All pensioners in Montenegro whose minimum pensions have been frozen at 450 euros for the past two years will receive regular annual increases next year, just like all other beneficiaries of the pension and disability insurance system, the Pension and Disability Insurance Fund (PIO) told Dan.
The Fund explained that pension rights are adjusted three times a year—on January 1, May 1, and September 1—based on wage growth and consumer price trends over the previous four-month period. Due to recent amendments to the Law on Pension and Disability Insurance, this adjustment did not apply to recipients of the minimum pension—set at 450 euros under Article 29—in 2024 and 2025. However, as the restriction was time-limited, all pensions will again be adjusted from January 1, 2026, in accordance with Article 58 of the Law on PIO, the Fund stated. The institution is headed by Vladimir Drobnjak.
According to statistical data for September 2025, a total of 131,824 beneficiaries received payments. Of this number, 128,425 were pension recipients (old-age, disability, or family pensions), while 3,399 received other forms of support (assistance for care and help, compensation for physical damage, allowances for disabled workers, and commemorative allowances), Dan reported.
The Fund noted that, based on the payment database for September 2025, 48,244 beneficiaries received the minimum pension of 450 euros. Additionally, 15,915 beneficiaries received a top-up to reach that minimum amount. This means that 54.54 percent of all pensioners are currently receiving exactly 450 euros.
The PIO Fund’s budget has become even more dependent on government support this year compared to 2024, due to the Government’s decision at the end of last year to reduce contribution rates by an additional 10.5 percent.
Preliminary financial results for January–October 2025 show that the Fund collected 664.29 million euros in total revenues, an increase of 9.37 percent compared with the same period in 2024, when revenues totaled 607.38 million euros. Contribution revenues for the first ten months amounted to 281.7 million euros—roughly 37.3 percent lower than the 450.97 million euros collected in 2024.
General budget revenues—effectively the funds needed to cover the PIO Fund’s deficit—amounted to 382.6 million euros, nearly two and a half times more than the deficit recorded in 2024, which stood at 156.41 million euros. Cumulatively, from January to October 2025, earmarked revenues (contributions) totaled 281.7 million euros, while general budget revenues amounted to 382.6 million euros. This means that the deficit stands at 382.6 million euros, representing 57.6 percent of total expenditures. According to the Fund, this ratio is expected to remain the same through the end of the year.
