The May pension, which is paid around June 20, will be increased by 1,93 percent, the Board of Directors of the Pension and Disability Insurance Fund decided today based on data on wage growth and inflation in the first four months of this year compared to the end of last year.
This adjustment will not apply to beneficiaries of the minimum pension, because the amendment to the law which increased the amount of the minimum wage to 450 euros determined that it will not be increased through periodic adjustments until the end of 2025.
"The Board of Directors of the PIO Fund of Montenegro held its first constituent session today and adopted a set of decisions on the adjustment of pensions: the Decision on the adjustment of pensions for one personal point from May 1, 2024, the Decision on the adjustment of pensions and cash benefits from May 1, 2024 . and the Decision on the Adjustment of the Basis for Determining Physical Injury Compensation from May 1, 2024. According to the aforementioned decisions, pensions and compensation are adjusted by 1 percent from May 2024, 1,93, while the value of the pension is adjusted by one the personal point is 10,34383, and the basis for determining the compensation for physical damage is 398,20307 euros. The decisions made will be applied during the payment of the pension for May 2024, which will be made in June of the current year," stated the announcement of the PIO Fund .
Pensions were increased by 2,08 percent in January of this year, so with this increase, the cumulative growth will amount to four percent. The next adjustment of pensions will be in September this year.
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