Pensions in Belarus to increase by an average of 7.3% from August 1

01/08/20140 views

August 1, Minsk /BELTA/. The expenses of the Social Protection Fund of the Ministry of Labour and Social Protection of Belarus for paying pensions at increased rates from August 2014 will increase by Br463 billion per month. This was reported to BELTA correspondent by Deputy Minister of Labour and Social Protection Valery Kovalkov, commenting on Decree No. 366 "On Pension Increases".

In accordance with the decree, from August 1, labour pensions will be recalculated based on the average wage of workers in the republic used in the previous recalculation, with an increase of 7.5%. Also in August, minimum and social pensions, allowances, increases and supplements to pensions will be recalculated in connection with the increase in the subsistence minimum budget per capita.

As a result, labour pensions will increase by an average of 7.3%. The average wage used in the previous pension recalculation was Br4 million 960 thousand. This figure, indexed by 7.5%, equals Br5 million 332 thousand.

According to estimates, the average old-age pension will be Br2 million 600 thousand, the minimum old-age pension with a service record of 25 years for men and 20 years for women will be Br1 million 402 thousand, and the maximum old-age pension (if the individual earnings coefficient is 4.0 and the service record is 45 years for men and 40 years for women) will be Br3 million 939 thousand.

This is the second recalculation of labour pensions this year. The first was carried out from February 1. -0-

News of Belarus (BELTA)