Reform of pension system in Serbia carried out according to European standards

Deputy Prime Minister Jovan Krkobabic met yesterday with a delegation of the Austrian Institute for Pension Insurance led by its President Karl Haas.

Krkobabic presented the basic elements of the pension reform adopted in Serbia, which, among other things, applied some of the experiences of the Austrian system.

Krkobabic also expressed gratitude for the help of Austrian colleagues during the process of elaboration of reform of the Serbian pension system.

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The guests from Austria explained that this country is also about to adopt new and stricter measures in the pension system, which were imposed not only by the global economic crisis, but also by demographic trends in Austria.

Haas commended the high level of the reformed pension system in Serbia, conducted in line with all European and world standards in the time of global economic crisis.

He added that Austria might use some of the experiences of the Serbian pension system.

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The participants in the meeting agreed that the cooperation between the two institutes should continue not only because of the fact that many citizens of Serbia are entitled to Austrian pensions in part or in full because they worked there, but also because pension funds of the EU countries must get adjusted more and more due to increased mobility of labour in the EU.

Source balkans.com