The highest pension paid in Montenegro currently amounts to €3,508.48 — roughly equivalent to three and a half average monthly salaries in the country. Nearly six thousand pensioners receive an amount above the national average wage, while the largest group consists of those living on the minimum pension. According to data the Pension and Disability Insurance Fund (PIO) provided to the portal Bankar, every second pensioner receives the legally defined minimum pension of €450, meaning that half of all retirees live on an income more than twice as low as the average salary.
The PIO Fund explains that the maximum pension is determined by the Law on Pension and Disability Insurance, which caps the personal coefficient at four. The law does not limit the length of pensionable service that affects the pension amount, meaning service longer than 40 years is included in the calculation, Bankar reports.
“According to the PIO Fund’s payment database, the highest pension paid in Montenegro amounts to €3,508.48. This is an exceptional case due to extremely long pensionable service worked in a position with accelerated (benefited) service,” the Fund stated.
The data also shows that work has paid off for some: almost six thousand retirees receive more than the average monthly salary.
“In Montenegro, 5,854 pensioners receive a pension higher than €1,000. Of that number, 85 pensioners receive more than €2,000,” the PIO Fund confirmed.
On the opposite end, the majority of pensioners receive €450 — the legally guaranteed minimum pension. After amendments to the Pension and Disability Insurance Law came into force on 1 January 2024, beneficiaries of old-age, disability, and survivor pensions now receive a supplement to bring their total monthly amount up to the minimum.
“Data from the September 2025 payment records show that 48,244 beneficiaries receive €450, while an additional 15,915 received a supplement up to that minimum amount. This means that 54.54 percent of pensioners receive exactly €450,” the Fund stated.
According to the PIO Fund, a total of 13,997 pensioners receive a pension between the minimum and the average amount—that is, between €450.01 and €543.12, the September average excluding adjustments. Above that range, 6,610 beneficiaries receive between €543 and €600, while 16,303 receive between €600 and €800. Another 7,526 retirees receive between €800 and €1,000.
“With the September pension payment, the PIO Fund disbursed pensions to 117,645 beneficiaries in Montenegro, distributed as follows: 72,562 old-age pensions (61.68 percent), 16,827 disability pensions (14.30 percent), and 28,256 survivor pensions (24.02 percent). Among them, 19,870 beneficiaries have more than 40 years of service, representing 16.89 percent of all pensioners,” the Fund noted.
The Fund added that no significant increase in the number of pensioners is expected in the coming period, because provisions of the Law on Internal Affairs and the Law on Protection and Rescue—granting more favorable retirement conditions to police officers and firefighters—have been extended until 31 December 2028.
“Additionally, under the transitional provisions of the Law on PIO, women can still retire under more favorable conditions, as can those eligible for early retirement, which may influence pensioner numbers in the coming years,” the Fund explained.
The PIO Fund also warned that the most common mistakes leading to a lower pension are incomplete or poorly maintained documentation, as well as unverified contribution payments during one’s working life. They encourage insured individuals to check their employment records on time, update missing data, and ensure that contributions have been paid correctly and on the proper wage base.
This advice, the Fund noted, is particularly important for younger generations entering the system, so they can avoid issues often discovered only at the point of retirement—when it is too late to correct them.
“When visiting a local PIO office or the department for international insurance, individuals are advised to bring any available documentation, such as a work booklet or its copy, proof of service with increased duration (benefited service), and any other records of employment,” the Fund stated. For those with service completed abroad in countries that have bilateral social insurance agreements with Montenegro, a request must be submitted to initiate the process of confirming foreign pension service if it is needed to qualify for a pension.
“With timely cooperation between the insured person and the Fund, documentation can be completed and verified much faster, allowing pension rights to be processed well within the legally prescribed time frame,” the Fund said.
The institution encourages all insured persons to contact their local PIO office or the department responsible for international insurance to begin and complete the process of verifying employment records and wages earned during their working life. Individuals are also advised to check with their employers whether contributions have been paid on the correct salary amount, since this directly determines the pension they will ultimately receive.
