Analytics, Economics, Financial Services, Legislation, Lithuania, Pensioners

International Internet Magazine. Baltic States news & analytics Friday, 19.04.2024, 13:28

Lithuanian PM: pension growth will depend on economic growth

BC, Vilnius, 27.08.2015.Print version
Prime Minister of Lithuania Algirdas Butkevicius says the decision over possible pension raise from January 2016 will be made taking into consideration economic indicators of the fourth quarter of 2015 and tendencies for the next year, informs LETA/ELTA.

"We will see tendencies for 2016 and make a decision. This Government holds the position that pensions must be raised every year, taking into account economic growth," the prime minister said on Wednesday at the Government.

 

On Tuesday, at the national television, the head of Government claimed that pensions might be raised starting January 2016 and not July as planned earlier.

 

Meanwhile Social Security and Labour Minister Algimanta Pabedinskiene mentioned in early August that pensions would grow by 6 percent on average beginning with July 2016. This would require EUR 85 million from the budget of the State Social Insurance Fund.

 

At the moment the average monthly pension in Lithuania is EUR 256. 600,000 people receive old age pensions, 200,000 others receive disability pensions.





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