Old-age pensions in Lithuania are set to rise by 13.5 euros on average next month after the government decided on Wednesday to increase the basic pension by 10 euros to 130 euros.
© E.Laučiūtės nuotr.

"We propose to increase the basic pension by 10 euros, from 120 euros to 130 euros. Starting October, this will affect all pensioners except for widows and widowers -- around 840,000 people in total," Social Security and Labor Minister Linas Kukuraitis told members of the Cabinet.

"Pensions for those with minimum qualifying period will rise by 13 euros on average," he added.

The increase will cost the state social insurance budget 31 euros this year and another 124 million euros next year.

The average old-age pension in Lithuania has risen by around 20 euros since the start of the year to some 288 euros. The average pension will likely increase to 330 euros next January due to indexation, which will require around 300 million euros in budget money.

Nauseda doesn't expect EU budget deal by end of 2019

EU member states differ too much in their positions on the bloc's next multi-annual budget to...

Dairy products subject to 25 pct US import tariff

Lithuanian cheeses, yoghurts and other dairy products are now subject to a new 25-percent import...

Nauseda: everybody thinks about plan B despite Brexit deal (1)

The European Union is weighing all options of possible action if the British parliament rejects the...

Nauseda: EU will approve Brexit deal, doubts remain on UK parliament

EU leaders will likely to smoothly approve the recently-reached Brexit deal on Thursday but doubts...

Cabinet approves new car pollution tax

The Lithuanian Cabinet approved on Wednesday a new tax aimed at encouraging people to buy less...