Description
Assessment of pension adequacy
Highlights
- Montenegro’s current pension system is based on a statutory pension scheme (pay as you go), while personal pension schemes have not achieved their full potential.
- Negative demographic trends, as well as a growing deficit of the pension fund, represent a threat to the adequacy of the pension system.
- The draft law amending the 2003 Law on Pension and Disability Insurance was adopted by the Parliament on 30 July 2020, after two years of negotiations
between Government and social partners. The main changes introduced by the new law are related to the pensionable age, the basis for pension calculation and the pension formula.
Read more: ESPN_ME_pension-adequacy_2021pdf
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