Residents of the Nordic countries can boast of the highest pensions, while, as expected, they are the lowest in the Balkans.
In 2021, the average monthly gross cost of an old-age pension in the EU varies, from as low as €2,575 in Luxembourg to €226 in Bulgaria. According to data taken from Eurostat, the European Union average was 1,224 euros.
Pensioners in Luxembourg (€2,575) and Denmark (€2,417) have the highest average old-age pensions in the European Union. The average old-age pension in Iceland is 2,762 euros, Switzerland 2,138, Austria 1,962, Ireland 1,906, Italy 1,561, Germany 1,440, Slovenia 692, Poland 538 and Hungary 398 euros.
Croatia is at the bottom of the ranking, i.e. in 28th place out of 36 countries - with 580 euros, while in Slovenia it is 785 euros. Bulgaria and Albania have the lowest average old-age pensions.
The average pension in the Federation of BiH is 319 euros, and in Republika Srpska 303.07 euros. In BiH, the amount of the average pension is about 311 euros, which is almost four times less than the average of the countries of the European Union.
The average pension in Serbia is currently 45,739 dinars or close to 370 euros. The average pension in Montenegro is 488 euros.
