Pensioners in Montenegro can anticipate an increase in their monthly income this year, according to Vladimir Drobnjak, the acting director of the Pension and Disability Insurance Fund (Fund PIO). This announcement, reported by RTV Podgorica, comes as the government prepares to release official inflation and wage growth data at the end of January.
Drobnjak stated that pensioners receiving minimal pensions, along with all other retirees, will benefit from three annual adjustments. The first adjustment is set for January, with further details expected to be confirmed by February 20, 2024.
While the potential increase is welcomed, Drobnjak cautioned that recent trends indicate modest growth. He noted, “Given that there has been no significant increase in wages or inflation recently, do not expect a substantial rise.” He emphasized the importance of waiting for official figures before making any projections regarding the specific percentage increase.
The director assured that pension payments remain secure both this year and in the coming years. He addressed concerns about the impact of reduced contributions to the Fund PIO through the Europe USA 2 program, asserting that these changes did not affect its operations, as confirmed over the past year.
The budget for 2026 has already been projected at €843 million, representing a 5.2 percent increase compared to last year’s budget. This budget includes provisions for all regular pensions and the anticipated three annual adjustments.
Drobnjak highlighted that despite high inflation rates, the increases in pensions have outpaced inflation. He reported a real pension growth of 2 percent in 2022, 7.6 percent in 2023, and projected increases of 3.15 percent in 2024 and over 8 percent in 2025.
He noted, “We can say that the standard of living for citizens and pensioners in Montenegro has increased over the past few years.” He acknowledged the discomfort caused by inflation, stating, “Anyone who is realistic and follows the numbers agrees with this, and yes, inflation is unpleasant for everyone.”
Looking ahead, Drobnjak indicated that he does not foresee further increases in the Fund PIO deficit. He asserted that for the pension fund to operate independently without relying on state budget transfers, Montenegro would need to double its employment levels.
In conclusion, while pensioners in Montenegro can look forward to increased monthly incomes, the exact figures will depend on forthcoming official reports. The government’s commitment to secure pension payments remains a priority, as the country navigates economic challenges.
