New rules for pensioners in BiH: Here’s how much the threshold for early retirement increases

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With the arrival of the new year, the rules also change for future pensioners. In accordance with the Law on PIO in the Federation of Bosnia and Herzegovina, the threshold for early retirement is increased by six months compared to last year.

Thus, men who wish to retire early by the end of this year should have completed 64 years of life and 39 years of insurance experience, and in 2026 they will be able to exercise this right at 64 years and six months of life and 39 years and six months of insurance experience, it says Večernji list BiH.

Raising the threshold

The law says that in 2035 the threshold will be raised to 64 years of age and 39 years of insurance experience, while in 2036 the rule of at least 64 years of age and six months of life and 39 years and six months of insurance experience will apply. Those who choose this option must know how they will receive the reduced pension amount. For each month of earlier retirement compared to the prescribed 65 years of life, the amount of the realized pension is reduced by 0.333333 percent.

When it comes to the Republika Srpska, i.e. the beneficiaries of the Institute for PIO of the RS, the gradual increase of the age limit by four months to the level of one year in the process of realizing the right to an old-age pension ends this year, because the insured person realizes the right to an old-age pension from the age of 60 and 40 years of pensionable service, and women with 58 years of life and 35 years of insurance service.

Rules also for those who worked in Croatia

The new rules also apply to those who spent their working life in Croatia. The insured person of the Croatian Pension Insurance Institute acquires the right to an old-age pension when he reaches the age of 65 and has 15 years of pensionable service. In the transition period from 2020 to 2029, women exercise the right to an old-age pension under more favorable conditions, with a lower age.

According to HZMO data, in 2025 the retirement age for women will be raised by three months compared to 2024. This means that from January 1 to December 31, 2025, women will be able to retire at the age of 63 years and 9 months. of life. This age for women will gradually increase and will equal the “male” age on January 1, 2030.

Rules for employees in Germany

Those employed in Germany will also have to work longer hours.

Pensions for especially long-term insured persons can be obtained before reaching the regular retirement age if they have been insured for at least 45 years in the statutory pension insurance. The regular age limit for the old-age pension will gradually increase until 2031 to the age of 67 in Germany.

According to the German media, those born in 1960 will be entitled to a regular pension from 2025 at the age of 66 years and 4 months. For those born later, the age limit will increase by two months per year of birth. From the 1964 generation onwards, the single age limit continues to increase in 2-month increments. For those born in 1964, the age limit is 67 years.

For the pension without deduction for especially long-term insured persons (previously pensioned at 63), the age limit increases from 63 to 65 years of age. People born in 1961 can receive this pension at the age of 64 years and 6 months. For those born later, the age limit increases by two months per year of birth.