The agreement was signed on 20th January in Belgrade by His Excellency Mr Daniel Emery, Australian Ambassador to Serbia, and Mr Nikola Selakovic, Serbian Minister of Labour, Employment, Veteran and Social Affairs. Under the new agreement, former Australian residents living in Serbia will be able to claim the Australian Age Pension without having to return to Australia. Conversely, former Serbian residents living in Australia will have better access to Serbian retirement pensions. The agreement also includes provisions that allow people to combine periods of residence in Australia with periods of insurance contributions in Serbia to satisfy the minimum requirements for an Australian or Serbian pension, meaning they can access their pension sooner. Additionally, workers temporarily seconded to Australia or Serbia will no longer have to pay compulsory superannuation and pension contributions in both their home country and host country, removing the onus of double payments and improving their retirement income. In an interview with His Excellency Mr Rade Stefanovic, Serbian Ambassador to Australia, we have learned that the new social security agreement is expected to come into effect in 2024, following the completion of treaty, legal and administrative processes in both countries. He also gave us additional details about the agreement.
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