Podgorica, (MINA-BUSINESS) – The non-governmental organization (NGO) Pensioners’ Association of Montenegro and several independent associations have called on the Pension and Disability Insurance Fund (PIO) to disclose the method used to calculate pension adjustments and the complete methodology, instead of relying on promotional language about the alleged increase in pensions.

The Association called on the Fund to disclose which data are used, for which period, which weightings are applied, and how it arrived at the adjustment index of 0.38 percent.

“We demand the urgent introduction of compensation measures for minimum pensions that were frozen for a full two years, because the formula does not restore lost purchasing power,” the Association stated in a press release.

The Association is also calling for a public debate on reforming the pension model and for a protective mechanism against the deterioration of living standards for pensioners receiving minimum pensions, including the real effect of delayed payments on the standard of living of all pensioners.

“We demand that the Managing Board of the Pension and Disability Fund publish the voting records on all items related to pension adjustments, including the position of each member,” the press release reads.