"This article analyses the functioning of the pensions insurance system in the countries of the former Socialist Federal Republic of Yugoslavia. The first part of the article shows that the implemented reforms comprised stricter conditions for the realisation of pensions rights through an increase in the retirement age and a decrease in the statutory replacement rate. The second part of the article presents the main indicators of the functioning of the pensions systems. The analysis of the results achieved reveals an exceptionally unfavourable picture. This primarily refers to the unfavourable ratio of the number of insured and pensions beneficiaries due to high unemployment, resulting in a high deficit in the pensions system. The third part points to the need for, and direction of, further reforms of the pensions systems aiming at the creation of adequate and financially sustainable pensions systems. The conclusion summarises the results of the conducted analysis. "

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