Early retirement

Conditions

An early old-age pension is available at 63 years with 15 godina of insurance service (čl. 17a of the Pension and Disability Insurance Act) — the same service requirement as the ordinary pension.

The age is the same for women and for men. Čl. 17a states one age for everyone — 63 years — with no separate table by sex and no cohort-by-cohort transition schedule. The ordinary pension age of 65 years applies equally to both, too.

The reduction — and why it is permanent

For each month claimed before 65 years, the pension amount is reduced by 0,35 % (čl. 27a st. 1). Unlike some neighbouring systems, this reduction in Montenegro is permanent: čl. 27a st. 2 expressly states that the reduced amount is retained even after the claimant turns 65 years — there is no automatic return to the full amount.

The law states no separate ceiling on the total reduction — čl. 27a states only the monthly rate. Because the early-retirement window is capped at 24 months (from 63 years to 65 years), the total reduction cannot in practice exceed 8,40 % — but that follows from the age window, not from a separately stated maximum.