19 January 2018, Friday, 14:30

Government decided to save money on pensions


“The Council of Republic” has approved changes on pensions: the minimal term of paying installments is 10 years.

On June 26 the upper chamber of the “parliament” approved the draft law which amends some laws on pension system. The law offers to add to the law “On Pension Benefits” a provision on increasing the minimal record of work (with payment of required premium to the budget of the state extra-budgetary fund for old-age pensions) from 5 to 10 years, BelaPAN informs.

It is also envisaged that the law “On Professional Pension Insurance” will be expanded. There will be a provision that an employee can pay a monthly fringe benefit for workers who had chosen that instead of professional pension insurance.

The draft law is aimed at bringing provisions of the laws “On Pension Benefits”, “On State Service in Belarus”, “On Social protection of citizens affected by Chernobyl nuclear power plant disaster and other catastrophes”, “On Professional Pension Insurance” in compliance with the norms of the Decree of the President “On Some Issues of Pension Protection and Social Insurance”, “On Some Issues of Professional Pension Insurance and Pension Protection” and “On Forming the State Committee of forensic expert investigation of Belarus.”

We remind that previously the minimal period of work for being paid a work pension was 5 years.

Photo: bymedia.net