Belarusians Were Urged To Temporarily Forgo Their Pensions

What's the point?

Social services are suggesting that Belarusians temporarily forgo their pensions and continue working without these payments. The idea is to increase the amount of their pensions in the future. The Committee on Labor, Employment, and Social Protection of the Minsk City Executive Committee highlighted this option, according to "Zerkalo".

Discussing the idea of postponing retirement, the committee clarified: “By continuing to work without receiving a pension, you can significantly increase its amount. Upon reaching retirement age, a person is automatically eligible for a pension, but by continuing to work, they waive their right to receive it [this must be done through the labor, employment, and social protection authorities].”

The committee added that the pension amount will be increased depending on the length of time the employee opted out of receiving payments.

“The minimum period is two months; there is no maximum period,” the social services clarified. “The bonus program provides for an increase in the percentage by which the pension is raised. For example, the pension amount will increase by 1% of the earnings used to calculate the pension if the employee forgoes payments for two months. It will increase by 6%, 8%, 10%, and 12% of those earnings, respectively, for each full first, second, third, and fourth year of service. 14%—for the full fifth year and each subsequent year of service.”

As a reminder, according to data from 2019, the average life expectancy for men in Belarus was about 64 years, and for women—78 years. That is, this figure is from before the coronavirus pandemic, which may have affected it.

The retirement age in Belarus is 58 for women and 63 for men.

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