PENSION SYSTEM IN SERBIA IN THE LIGHT OF CRISIS

The measures implemented in Serbia in answer to the crisis do not imply re-evaluation of the system as a whole, but are taken as a result of the necessity on the side of expenditure. Individual measures are explained by different principles, so it is becoming visible that the desired model has not been clearly defined. Under the pressure of the crisis it is becoming particularly visible that the public pension system is increasingly shifting towards the direction that would enable only a reduction of poverty in the old age, in the absolute sense, but not the maintenance of standard of living after retirement. Such an orientation, if accepted and maintained in the long run, demands a certain redesigning of the existing system in order to prevent the implosion of its internal logic. However, it remains unclear whether this substantial conceptual change appears a result of a strategic and well-founded decision or randomly. Finally, increasing reliance on budgetary financing raises the question of the justifiability of ensuring pensions only for those who have been paying their pension contributions and creates the need to re-examine the system from that aspect as well.