Official Confirmation: Pensions increased by 3.2 Percent in Federation of BiH!

The Government of the Federation of Bosnia and Herzegovina issued an urgent decision to increase the amount of the lowest pension in the FBiH by 3.2 percent, starting on January 1st, 2019.

For the realization of this decision, which enters into force on the date of its adoption and will be published in the “Official Gazette of the FBiH”, the Federal Institute for Pension and Disability Insurance will be in charge.

Earlier in February, for the beneficiaries of the Republika Srpska Pension and Disability Insurance Fund (PIO RS) January’s pensions began to be distributed, and they are increased by 2.17 percent.

Pension benefits have been increased on the basis of regular, annual, adjustment, while the lowest pensions are higher in the same percentage based on the RS Government’s decision.

With the payment of the January pension, a total of 259,968 beneficiaries were included, of which 214,212 in RS.

The average pension amounts to 374.70 BAM and makes 42.05 percent of the average salary in RS.

For the full life insurance of 40 years, the average pension for January amounts to 548.18 BAM, which is 61.52 percent of the average salary, while the highest pension is 1.974,24 KM.

The PIORS Fund estimates that the payment of the pension requires 89.1 million BAM in net amount, or 90.3 million BAM in gross amount, while income from pension and disability insurance contributions in January 2019 was 63.1 million BAM.

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