The Pension and Disability Insurance (PIO) Fund of the Republic of Srpska and Austrian Pension Fund (PVA) have reached an agreement on streamlining the procedure for exercising the right to old-age pension for citizens of the Republic of Srpska working temporarily in Austria, announced the PIO Fund.

The PIO Fund notifies all those who were insured with this fund in the previous period, and are now insured with PVA, that these two funds have reached and signed an agreement on the date of applying for recognition of right to old-age pension.

‘Until present, our citizens insured with PVA in Austria were applying for the exercise of right to old-age pension from employment in accordance with the positive legislation of Austria, which is not in compliance with our regulations’, the statement reads.

The PIO Fund adds that until present such applications were automatically rejected as premature, thus creating some difficulties and slowing down the implementation of the administrative procedure.

In the future, PVA will submit a temporary certificate of insurance periods in Austria on Form A/BiH 14 to accompany the application of the insured and at the same time instruct the insured to file a new application after the termination of compulsory insurance in Austria, while the PIO Fund will issue a decision and submit a certificate of insurance periods in the Republic of Srpska, i.e. BiH.

By implementing this agreement, the statement reads, PVA undertakes to forward without delay the application for exercising the right to the PIO Fund of the Republic of Srpska, to enable the Fund to complete the procedure in a timely manner.

In this way, the procedure of exercising the right unfolds without interruption, provided that the insured must file the application again with PVA after the termination of employment in Austria, to fulfil the requirements for exercising the right to old-age pension.

‘The right to old-age pension in the Republic of Srpska is recognized at the earliest as of the day after the termination of insurance in Austria, depending on the date of application filing, and the right may be recognized for a maximum of three past months, provided that the requirements have been met’, said the PIO Fund.

Source and photo: RTRS