Based on Article 95, paragraph 3 of the Constitution of Montenegro, President Jakov Milatović proclaimed the Law on Amendments to the Law on Pension and Disability Insurance on December 30, 2023.
This law was adopted by the Parliament of Montenegro on December 29, 2023. The law is amended to stipulate that an insured person acquires the right to an old-age pension upon reaching the age of 65 and having at least 15 years of insurance contributions, as well as under other specified conditions.
Additionally, the amount of the minimum pension will be increased to 450 EUR. Changes have been introduced to the conditions for old-age pensions, including adjustments to the age requirements for men and women. The right to a pension can be exercised until December 31, 2024, for certain insured persons.
The law enters into force on the date of its publication in the Official Gazette of Montenegro and will be applied starting January 1, 2024. This law also includes special provisions for beneficiaries receiving the lowest pension amounts.
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