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Retirement and disability insurance

The Law on Retirement and Disability Insurance regulates the compulsory retirement and disability insurance. Retirement insurance is an area that was, for certain categories of employed persons, regulated first – within the framework of the social insurance system as long ago as the 19th century.

Retirement and disability insurance assures rights to certain benefits in cases of certain risks stipulated by Law (old-age risk, the risk of full loss of working ability – namely disability, the risk of death, the risk of bodily damage caused by industrial injury or occupational disease).

The right to benefits (for the above-listed risks) in the area of retirement and disability insurance are: the right to old-age pension, the right to disability pension, the right to pecuniary benefit for bodily damage and the right to carer’s allowance.

The listed benefits, acquired and exercised under the conditions prescribed by law, assures material and social security of contributors.

The Law on Voluntary Pension Funds and Pension Plans in the Republic of Serbia introduces, as of 1st April 2006, voluntary retirement insurance (the so-called ‘third pillar’) which, contrary to the system of compulsory insurance, does not comprise disability insurance.

   Law on Pension And Disability Insurance

 

 
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