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Lithuania pensions could rise by 6% to 7% in the coming year driven by their indexing to wage growth in the economy which is currently running at 5.5%, according to Prime Minister Algirdas Butkevičius.
Indexing could raise pensions by up to 7%, says Butkevičius
© E.Laučiūtės nuotr.

Taking into account economic growth projections and the proposed model of indexation, Butkevičius said “recent wage growth is 5.5% on average, so I think that for the next three years the growth will certainly not be less than 5.5%, but more, so the pensions could grow by 6-7%”.

After President Dalia Grybauskaitė pushed for a decision on the indexation of pensions, Prime Minister Algirdas Butkevičius said he hoped that this bill would be adopted by Parliament together with the rest of the social model.

“I hope that the parliament will adopt the whole social model, and I think that one or another law should not be excluded,” said Butkevičius.

Parliament Speaker Loreta Graužinienė said the discussions on the new social model had got stuck in the Parliament because the government has not coordinated the many bills involved with the Tripartite Council.

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