What determines the size of a pension in Belarus: what everyone should remember
Recently, Belarusian President Alexander Lukashenko signed a decree on increasing all types of labor pensions from October 1 – old-age, length of service, survivor’s pension, and disability pension.
As reported by the Ministry of Labor and Social Protection, on average, the labor pension will increase by 5%, but the amount of the increase will be different for each pensioner.
What determines the size of a pension in Belarus
As explained by the department, the pension amount depends on the length of service and the amount of earnings taken into account when calculating the pension, as well as the right to increases/bonuses.
This right is available to pensioners aged 75 years and over, disabled persons of the first group, participants and veterans of the Great Patriotic War, honorary donors, etc.
The amount of earnings is determined by its individual coefficient. It is calculated by correlating the actual monthly earnings in the established period and the average salary in the country in the same months.
Old-age pensions are calculated as a percentage of 55% of the adjusted average monthly earnings for 25 years of service for men and 20 years for women.
For each year of service beyond the above-mentioned duration, the pension amount increases by 1% (within 75%).
