New Act on Pension and Disability Insurance

The new Act on Pension and Disability Insurance (“Act”) was published in the “Official Gazette of FBiH”, no. 13/18 dated 21 February 2018. The Act enters into force on the eight day as of publishing (i.e. on 1 March 2018). The Act on Pension and Disability Insurance (“Official Gazette of FBiH”, no. 29/98, 49/00, 32/01, 73/05, 59/06, 4/09 and 55/12) ceases to apply by entering into force of the new adopted Act.

Please find below a brief overview of some of the important changes introduced by the new Act:

• Pension increase for 10% for persons who retired until 31 July 1998, for 5% for persons who retired until 31 December 2007
• The “scoring system” for pension calculation is introduced, whereby the point value for 2018 is BAM 14
• Minimum conditions required for old-age retirement are 65 years of age and 15 years of insurance under the first category of labour or 20 years of insurance under the second category of labour.

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