Analytics, Financial Services, Legislation, Lithuania, Pensioners, Wages

On the proposal of the Ministry of Social Security and Labour, the minimum monthly wage has been increased from EUR 300 to EUR 325. The state social insurance basic pension has been increased from EUR 105 to 108 and insurable earnings – from EUR 431 to EUR 434. Maximum amount of not recalculated pension has been increased from EUR 229 to EUR 236.

Due the increase of the basic pension and insurable earnings, the average old-age pension will grow by approximately EUR 5.

The increase of the basic pension and insurable earnings will affect all recipients of the state social insurance pensions (with an exception of widow's and widower's pensions), or approximately EUR 867,000 people.

The required funds, EUR 22.86 million, have been allocated to the State Social Insurance Fund (Sodra) budget.