Between October 2017 and June 2018, assistance was provided to the National Bank of Serbia and the Ministry of Labour, Employment, Veteran and Social Affairs in order to harmonise national legislation with the Directive (EU) 2016/2341 on the Activities and Supervision of Institutions for Occupational Retirement Provision (IORP 2 Directive).
Based on thorough consultations with the NBS, the PLAC II Project Expert Ms Ieva Ose identified gaps between existing legal framework regarding voluntary pension funds and the requirements of IORP II Directive, and proposed draft amendments to the national legal framework in line with the requirements.
Suggestions for definition of occupational pensions and institutions for occupational retirement provision were drafted, as well as proposals of different solutions that can be chosen when deciding on voluntary occupational pension system in Serbia, along with pros and cons analysis for each of them.
Finally, proposal of the new Draft Law on Voluntary Pension Funds was developed, along with draft amendments to Decision on More Detailed Conditions and Maximum Amounts of Voluntary Pension Fund Assets Investment and Manner of Investing such Assets Abroad. In addition to this, the methodology for cross-border activities and cross-border transfers has been also prepared.
