The Federal Minister of Labor and Social Policy, Adnan Delić, announced that the Government of the Federation of BiH has reached a conclusion on the advance payment of pensions for 2024, and that the increased January pensions will be paid on February 5 this year.
This is an adjustment which, Minister Delić reminded, is carried out regularly every year, every April 15, in accordance with the Law on PIO, after the Federal Bureau of Statistics publishes data on the growth of GDP and the consumer price index in the previous year.
According to the available data on the movement of the gross domestic product (GDP) and the consumer price index (CPI), it is estimated that the percentage of regular adjustment of pensions starting from 01.01.2024. should range from 6% to 7%.
“Pensions increased in this way were paid out in April, retroactively from January, and the formula for calculation is that 50 percent of the amount of the two mentioned parameters in total gives the adjustment amount. If there are deviations in the sum of these two amounts during the publication of official data in April, the difference in pensions from January to April, arising on this basis, will be paid to pensioners in April,” Minister Delić announced.
Taking into account the consequences of global inflation and the financial position of pensioners, the Federal Minister of Labor and Social Policy, Adnan Delić, met on Friday with the director of the Federal Institute of PIO/MIO, Halil Subašić, with whom he agreed that, in accordance with Article 79 of the Law on Pension and Disability Insurance , enable advance adjustment of pensions starting from 01.01.2024. years. The Management Board of the Institute made this decision on Friday, the Government accepted and voted today at an electronic session.
“At today’s electronic session, a conclusion was made approving the advance adjustment of pensions in accordance with Article 79 of the Law on PIO, in the percentage of 5.0%, which is in accordance with the planned and available funds of the Federal Institute of PIO/MIO for this year “, said Delic.
Please note that advance adjustment of pensions was also carried out last year, starting from 01.01.2023. year, and in April 2023, the final adjustment of pensions was carried out, in accordance with the legally prescribed parameters published by the Federal Bureau of Statistics, which will be the case this year as well, the relevant ministry announced.
Pensions are adjusted in advance by 5%, except for the highest pensions realized according to the Law starting from 01.03.2018. year and pensions realized in 2024, with the exception of minimum and guaranteed pensions.