Bosnias Serb Republic average pension down 3% y/y in Oct 2012.

By bne IntelliNews November 12, 2012
The average pension in Bosnias Serb Republic fell by 3% y/y to BAM 311.3 (EUR 159) in October 2012, data from the Republic Pension and Disability Insurance Fund (PIO) showed. The pension equalled to 38.7% of the average salary in the Republic, down from 39.7% a year earlier. The number of pensioners, including beneficiaries of disability, survivor and other pensions, climbed 20% on the year to 235,178 as of end-October. Out of the total, 118,981 (50.6% share in total) received an old-age pension. The Republics revenues from social contributions stood at BAM 63.7mn in October, covering 87.5% of gross monthly pension payments. In Jan-Oct, revenues from social contributions reached BAM 570.7mn, up from BAM 569.7mn in the same period of 2011. Transfers from the Republics budget to PIO this year are projected to reach BAM 193mn, or more than 12% of total budget revenues in 2012. PIOs total revenues, which also include social contributions and other revenues, are projected at BAM 926.8mn, accounting for 11.2% of the entity full-year GDP forecast.
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