The budget surplus of the Lithuanian state-run social insurer Sodra should be 218.3 million euros next year, which is an increase by 55 percent, or 77.2 million euros, from this year's projected 141 million euros, according to the Sodra 2018 budget draft to be presented to the government on Wednesday.
Sodra main headquarters in Vilnius
© DELFI / Rita Gečiūnaitė

Sodra's revenue should next year total 4.231 billion euros and spending should stand at 4.012 billion euros, up by 9.2 percent and down by 7.4 percent, respectively, from this year's projections.

The 2018 Sodra budget does not envisage a cap on payments earlier proposed by the government. The Cabinet had proposed an annual ceiling of 120 average monthly wages, which would have slashed the fund's revenue by approximately 39 million euros.

The bulk of Sodra's spending (73 pct) will traditionally go towards old-age pensions next year – 2.939 billion euros or 12 percent above the projections for this year. The projected average old-age pension should be 331.7 euros, up by 40.7 euros from 2017.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Lithuanian agrimin calls on EC to cover farmers' drought, swine fever losses

Lithuanian Agriculture Minister Giedrius Surplys has called on the European Commission to cover...

Research: small Lithuanian business fails to assess IT potential and risks

Random employees rather than experienced specialists in the field normally are in charge of hardware...

Lithuanians have an idea how to reduce crypto mining costs

During the largest non-profit ICT and entrepreneurship event in the Baltic States #SWITCH held in...

Remigijus Šimašius on #TOWER: the ugly duckling becomes a beautiful swan

On Thursday, mayor of Vilnius, Remigijus Šimašius visited one of the highest residential buildings...

A new attraction centre will open for the citizens of Vilnius.

A Park Town business park located in a strategic area of Vilnius, in a tail of Konstitucijos avenue,...