Changes and amendments to the Law entered into force

Changes and amendments to the Law on Voluntary Pension Funds and Pension Plans have entered into force today. Some of the most important changes are: 
  1. The retirement age has been increased from 53y to 58y 
  2. Prior to 58, the assets can be withdrawn only in the event of permanent work disability 
  3. Only up to 30% of the accumulated assets can be withdrawn as a lump-sum 
  4. Fund assets can be invested in open investment funds 
  5. A member’s assets can be a guarantee for his/her obligations towards Republic of Serbia and the banks as a first time homebuyer, in line with the enactment of the Government. 
National bank of Serbia will bring necessary bylaws in 90 days and the Ministry of Labour and Social Policy in 30 days. 
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