Pensions to increase in Belarus from November

1 November, Minsk /Elena Prus - BELTA/. In Belarus, the amounts of labour pensions will be increased from 1 November of the current year, BELTA was informed by the Ministry of Labour and Social Protection. In accordance with Decree No. 35 of 16 January 2012 "On Pension Increases", labour pensions have been recalculated from 1 November of the current year based on the average wage of employees in the republic for the third quarter. According to the National Statistical Committee, the average wage for the third quarter of 2012 amounted to Br4 million 37 thousand 686. This is 14.7% higher than the average wage of employees for the second quarter of this year, which was used for the previous recalculation of labour pensions (in August). As a result of the recalculation from November 2012, labour pensions, for which the subsistence minimum per capita (SM) is not applied in calculating their amount, will increase by 14.7%. Simultaneously with the recalculation of labour pensions based on the growth of the average wage, minimum labour and social pensions, supplements, increases to pensions and additional payments to pensions for the elderly have been recalculated in November due to the growth of the SM. The new SM, compared to the previous one, has increased by 4.3% to Br880 thousand 30. Accordingly, social pensions, supplements, increases and additional payments to pensions will increase by 4.3%. Thus, taking into account the new SM value, the amounts of additional payments to pensions for non-working pensioners from November are: for people who have reached the age of 75 - Br165 thousand (75% of the minimum old-age pension), who have reached the age of 80 - Br220 thousand (100% of the minimum old-age pension). As a result of pension recalculations in November, the average old-age pension is estimated to increase by 14.1% and will amount to Br1 million 964.3 thousand. It should be noted that the amount of pension for a specific person depends on the individual parameters used to calculate their pension, such as length of service and individual coefficient. Financing of expenses for pension increases is carried out from the funds of the Social Protection Fund of the Ministry of Labour and Social Protection. Additional expenses for these purposes in November of the current year are estimated at Br589.8 billion. According to data as of 1 September of the current year, recipients of various types of pensions in the labour, employment and social protection bodies numbered 2 million 495.2 thousand people.

The pension system in Belarus is functioning stably, with pensions being paid on time, as noted by the Ministry. This year, measures are being taken to maintain the level of pensions and their purchasing power. In accordance with Decree No. 35, since January 1, 2012, a monthly additional targeted supplement to pensions has been established for non-working pension recipients in labour, employment and social protection bodies who have reached the age of 75, amounting to 75% of the minimum old-age pension, and for those aged 80 and over - 100% of the minimum old-age pension. In February, May, and August, recalculations of labour pensions were carried out based on the average wage of employees in the republic, as well as minimum labour and social pensions, allowances, increases, and supplements to pensions due to changes in the BPLM. According to specialists, in January-September of the current year, compared to the corresponding period in 2011, the average monthly old-age pension increased by 108.3% to Br1 million 400 thousand, including Br1 million 721.4 thousand in September. The average monthly minimum old-age pension increased by 145.2% to Br999.6 thousand, including Br1 million 210 thousand in September. The real value of the old-age pension increased by 17.6%. The ratio of the minimum old-age pension to the pensioner's living wage for January-September 2012 was 166.9%. The provisions of Presidential Decree No. 136 of March 18, 2012, "On Measures to Improve Pension Provision for Citizens," which entered into force on October 1 of the current year, are aimed at improving the pension security of citizens and optimising pension expenditures. To encourage later retirement, a progressive increase in bonuses for working without receiving a pension after acquiring the right to an old-age pension on general grounds is provided. The provisions of the decree are included in the draft law "On Pension Provision" (adopted in two readings by the House of Representatives of the National Assembly on October 2, approved by the Council of the Republic on October 10). To enhance the social protection of large families, mothers who have given birth to and raised nine or more children and have been awarded state awards of the USSR or the Republic of Belarus for motherhood, Resolution of the Government No. 833 of September 8, 2012, has been adopted, providing for the possibility of establishing pensions for special merits before the Republic of Belarus for them. -0-

BELTA