Pensions in Belarus increased from August 1

1 August, Minsk /Elena Prus - BELTA/. Pensions in Belarus have been increased from 1 August 2012, the Deputy Minister of Labour and Social Protection, Valery Kovalkov, informed a BELTA correspondent. According to him, based on Decree No. 35 of 16 January 2012 "On Pension Increases", recalculation of labour pensions will be carried out from 1 August based on the average wage of workers in the republic for the second quarter of 2012. According to Belstat, it amounted to Br3 million 520 thousand 252, which is 17.1% higher than the indicator used for recalculating labour pensions in May of the current year. As a result, labour pensions, for which the minimum budget per capita (MBP) is not applied in calculating their amount, will increase by 17.1% from August. Also in August, minimum labour and social pensions, supplements, increases to pensions and additional payments for the elderly will be recalculated due to the increase in MBP (approved by the government for the period from 1 August to 31 October at Br843 thousand 870, which is 13.6% higher than the MBP in effect from 1 May to 31 July of the current year). Thus, social pensions, supplements and increases will increase by 13.6% respectively. Taking into account the new MBP value, the amounts of additional payments to the pensions of non-working pensioners from August will be Br158.2 thousand for people who have reached the age of 75 (75% of the minimum old-age pension), and Br211 thousand for those who have reached the age of 80 (100% of the minimum old-age pension). Overall, the average old-age pension is estimated to increase by 16.8% and reach Br1 million 719.9 thousand. "The pension amount for a specific person depends on the individual parameters used to calculate their pension - work experience, individual coefficient," the Deputy Minister emphasised. The financing of expenses for pension increases will be made from the funds of the Social Protection Fund of the Ministry of Labour and Social Protection. Additional expenses for these purposes in August will amount to Br592.3 billion.

Valery Kovalkov emphasized that the pension system is functioning stably, and pensions are paid on time. This year, measures are being taken to maintain the level of pensions and their purchasing power. Thus, in accordance with Decree No. 35, from January 1, 2012, a monthly additional targeted supplement to pensions for non-working pensioners in labor, employment, and social protection bodies, who have reached the age of 75, has been established at 75%, and for those aged 80 and older – 100% of the minimum old-age pension. In February and May, recalculations of labor pensions were carried out based on the average wage of employees in the republic, as well as minimum labor and social pensions, allowances, increases, and supplements to pensions due to changes in the subsistence minimum budget per capita (SMB). The Deputy Minister stressed that in 2012, pensions will be recalculated again in November.

BELTA