ANALYSIS OF VOLUNTARY PENSION FUNDS IN SERBIA IN 2022

The topic of this paper is the analysis of voluntary pension funds in Serbia in 2022 with the emphasis on the return rate.
Introduction of private voluntary pension funds together with the state pension fund is the essence of the pension system reform, and that reform process began in 2005.
Generally accepted pension system is a three-pillar system, but introduction of the second pension pillar in our country will not happen anytime soon, and the question is whether it will be introduced at all.
The third pillar of the pension system is voluntary and this is its greatest advantage. Voluntary pension system consists of three interconnected processes – payments to the voluntary pension fund, investment of free funds and programmed payments – pensions.
In order to form a valid investment portfolio and achieve a long-term and good return from investments there must be a stable inflow into voluntary pension funds.

Key words: pension system, voluntary pension funds