aA
Lithuanian President Gitanas Nauseda is putting forwards amendments to three laws for the parliament's consideration, aimed at ensuring that pensions rise faster in the country and the number of older people living in poverty goes down.
President puts forward amendments on faster pension increase
© DELFI / Andrius Ufartas

The proposals also include the financial sources necessary for the state budget for that purpose. Nauseda signs the related decree on Friday.

Under the proposed amendments to the Law on State Social Insurance Pensions, the basic pension would rise 20 percent faster next year and in 2021 and the pace would exceed the growth in the average salary in the country. Sustainable pension increases would allow reducing the poverty level among pensioners, which now stands at 41.7 percent, the president office states.

Social Security and Labor Minister Linas Kukuraitis said in early October that because of indexation, the average retirement pension would grow 8.11 percent to 374 euros, and the average pension with the necessary working time would grow to 395 euros.

Just because of that pensions will grow faster than salaries in Lithuania next year, with the Finance Ministry estimating that salaries will rise 7.4 percent on average.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Ukrainians coming to Lithuania to work should be better informed about working conditions

Ukrainians coming to Lithuania to work should be better informed about working conditions after...

Leading Swiss engineering consultancy plans to double its Vilnius team

Engineering consultancy CSD Engineers has announced plans to double the size of its team in Vilnius...

Orlen Lietuva to carry its 1st cargo using rebuilt Renge section

The first freight train will go via the railway section from Lithuania's Mazeikiai to Renge in...

Maxima and Biovela face huge fines over contaminated meat

Lithuanian retail chain Maxima and meat processing group Biovela Group are facing...

MG Baltic trial: ex-MP Gustainis says charges 'plucked out of thin air'

Former MP Sarunas Gustainis , one of the defendants in a high-profile political corruption trial...

Top news

Ex-Pentagon chief Mattis awarded by president

Lithuanian President Gitanas Nauseda awarded 34 Lithuanian and foreign nationals for their merits to...

Ukrainians coming to Lithuania to work should be better informed about working conditions

Ukrainians coming to Lithuania to work should be better informed about working conditions after...

Lithuania chose its song for ‘Eurovision’!

Lithuania’s 'Pabandom iš naujo!' has come to an end. After 3 heats, 2 semi-finals and Saturday’s...

Google presented Lithuanian initiative to world

The Internet giant Google has presented its video about Debunk EU during the Google News...

Famous Lithuanian poet Navakas dies

Famous Lithuanian poet Kestutis Navakas died on Sunday at the age of 55.

|Maža didelių žinių kaina