Pensions Raised by 20% in Belarus

17.01

Recalculations of pensions and adjusting pensioners’ actual earnings to the average wage in the country, will be held in Belarus in February, May, August and November. The relevant decree "On increasing pensions" was signed by President of Belarus Alexander Lukashenko on January 16. According to the Ministry of Labor, the pension will rise by an average of 20% in February.

Under the decree, when recalculating and adjusting the earnings of pensioners in February, May, August and November, the average wage level for the IV quarter of 2011, I, II and III quarters of 2012 will be considered, respectively.

As Minister of Labor of Belarus Schetkina Marianna explained, pension increases will depend both on the growth of average wages and on the individual parameters of each individual pensioner - length of service, the amount of earnings, eligibility for bonuses and enhancements to pensions and others, ]]> BelTA ]]> informs.

Pensioners over 75 years of age to get $13 each, while those over 80 - $17

In addition, the president ordered by the decree to pay supplements to pensions for citizens over 75 years of age from January 1, 2012. Thus, they will get an additional 75% of the minimum old-age pension (about Br107.8 thousand, or $13), and older than 80 years - 100% of the minimum pension (about Br143.7 thousand, or $17).

Supplements to pensions will be calculated from the first day of the month following the month to achieve the required age, and paid - in the manner provided for payment of pensions.

The presidential administration believes that these pension supplements will "reduce its acute demand, as well as support the neediest elderly citizens."

In turn, Marianna Schetkina says that supplements are not intended for persons in detention, in public stationary social service organizations, as well as those provided by the state.

Payments will be financed by the Fund of Social Protection of the Ministry of Labor. Around Br876 billion is reserved in the fund for the purpose until the end of 2012.

As Telegraf previously reported, last recalculation of pensions was held in November 2011. Then the average retirement pension increased by 22% to Br978 thousand (at that time - a little over $110), a pension at the experience of 45 years for men and of 40 years for women, as well as pensioners’ individual earnings ratio of 4.0, barely exceed Br1.5 million (about $175).

External source of this news: http://telegraf.by/en/2012/01/v-belarusi-na-20-povishayut-pensii

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Pensions Raised by 20% in Belarus

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