Podgorica, (Montena-business)- The main problem of the entire reform process in Montenegro, according to Veselin Vukotic, director of the Institute for Strategic Studies and Predictions, is the present pension system that predicts an annual amount of DEM 280 million for about 85,000 pensioners. "Modernisation of the pension system must be part of the entire reforms in Montenegro, and must be solved by all citizens contributing payments to the Pension Fund. Montenegro is going towards a capitalist pension system, which is in use in most countries in the world" said Vukotic after today#s seminar on this reform. An expert on economy of pension systems and reforms from the Barents group, David Snelbecker, said that the main characteristic of the reform was, first of all, creating a financial equilibrium the in present system. "It will be done by a previous analysis of the influence of that process at the aimed group. Most countries in the world introduced a #capitalist# pension system, which provides payments of all citizens to their private individual accounts, that will secure their future pensions" explained Snelbecker. According to Snelbecker, this principle is necessary. Besides it there is also a voluntary system of pension insurance at the level of companies or private pension funds. "Most countries in the world adopted, in the last 10 years, the pension reform, but there is a number of countries that will do it in the next couple of years. The Latin American countries were the first to reform the pension system at the beginning of the eighties and nineties. There are predictions of a financial crisis in 20 years time in the USA caused by their old pension system, and it made them to plan the system#s modernization" claims Snelbecker. According to Snelbecker, pension reform has an important influence at economic and social movements, first of all on the foreign investment savings. Pension reforms, says Vukotic, should be started now, considering that the reforms already started in other spheres such as the monetary and bank sector. The Barents group and the ISSP organized the seminar. Its main aim was to enable discussion on today#s pension system between those who will lead, design and use the pension reform. kd / bd