The Republic of Serbia offers its residents and citizens are number of benefits and allowances, provided that individuals contribute to the country’s social security system. According to the Constitution of the Republic of Serbia, individuals are able to avail security and social insurance that covers a range of public services and allowances, this includes: heath protection, maternity benefits and old-age pension.
The following is a brief outline with regards to the social security contributions and allowances:
Old Age Pension
In accordance with the social insurance system that is governed by the 2003/4 laws, all individuals employed in Serbia are entitled to avail public service benefits provided that they contribute to the system. The sources of funds for the pension fund are contributions from each employed individual, whilst all government employees are qualified for cash benefits that cover eventual deficit.
The following is information with regards to the qualifying criteria for the fund and other implications:
· 63 years old (men) or 58 years old (women) with insurance coverage for a minimum of 20 years
· OR 53 years old (men) with insurance coverage for 40 years or 53 years old (women) with 35 years of insurance coverage
· Individuals who are not retired can defer their pension payments
The social insurance system provides female employees with the opportunities to benefit from the maternity allowances. All employees are entitled to receive the maternity benefits, provided that their employer contributes 6.15% of their monthly salary towards their social security. Government employees have the same benefits as other employees in Serbia.
Female employees are entitled to take maternity leave 28 days prior and for 365 days after to the birth of their child. This is for the case of the first 2 children, as the leave period for the third and other children is paid for a period of 2 years.