Marianna Shchetkina
MINSK, 10 March (BelTA) – There are no plans to introduce a mandatory cumulative pension system in Belarus, Belarusian Labor and Social Security Minister Marianna Shchetkina said after the government conference to discuss the development of the pension system attended by Belarus President Alexander Lukashenko on 10 March, BelTA has learned.
Marianna Shchetkina noted that many countries adopt a mandatory accumulative system. “However, when inflation risks are high, it is unwise of a government to expose people to any risks,” the minister stressed. She emphasized that in Belarus anyone willing to set up an additional pension can do it. “We have three insurance companies that provide such services, and the insurance market will be developing further,” the minister pointed out.
“We have voluntary pension schemes in Belarus. Some people choose this option independently, some are motivated by their employers,” Marianna Shchetkina said.
As for the possibility of the pension reform in Belarus, she stressed that any pension system should be stable, and reforms must not be made for the sake of reforming. The minister explained that the working-age population in Belarus takes care of the dependent members of the society. “We need to understand that if we have 2.5 million pensioners today and the life expectancy is growing, we should ensure the stability of this system for many generations ahead,” Marianna Shchetkina noted.
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