From December 1, pensions in Serbia rose by 12.2%, bringing the average pension for retirees to 485 euros. For perspective, in 2012, the average pension was only 204 euros. According to the government’s current plan, the average pension is expected to reach approximately 650 euros by 2027.
Serbian President Aleksandar Vučić confirmed that the increased pensions will be paid ahead of the Christmas holidays, on January 4 or 5, marking the first time this has happened. He dismissed claims that the budget could not cover the rise, emphasizing that the increase is fully secured and proceeding according to plan. Finance Minister Sinisa Mali added that pensions are being paid a month earlier than usual, starting in December instead of January, fulfilling another government promise to pensioners.
Pension Growth in Serbia
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Average pension in 2025: around 437 euros
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Average pension in 2026: around 488 euros
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Government target by the end of 2027: 650 euros
In addition, public sector salaries in Serbia are set to rise by 5.1% from January 1, 2026, while the minimum wage will increase by 10.1%, surpassing 550 euros.
Since the repeal of the Law on Temporary Payment of Pensions in 2018 and the completion of fiscal consolidation, Serbian pensions have seen substantial real growth: +8.7% in 2023, +15.1% in 2024, and +6.4% for January–October 2025. Between 2018 and 2026, real pension growth reached 54.3%, with nominal growth of 139.4%.
Comparisons with Bulgaria
In Bulgaria, the minimum wage from January 1, 2026, will be 1,213 leva (≈620 euros), rising to 850 euros in 2027. The average pension in Bulgaria currently stands at about 500 euros, with a projected increase to 540 euros next year. This positions Serbia’s pension system increasingly close to Bulgaria’s in nominal terms, reflecting rapid growth over the past few years.