The Ministry of Labor explained what the size of the future pension depends on
The size of the future pension depends on the length of work and insurance experience.
The press service of the Ministry of Labor and Social Protection of Belarus reminded about this on Telegram.
What is important to know about the formation of insurance experience
The right to a labor pension is granted to citizens who have reached retirement age (63 years for men and 58 years for women) and have at least 20 years of insurance experience (from January 1 of the following year).
A month of insurance experience is equal to a month of work/independent activity for which contributions to the Social Security Fund were paid in an amount not less than the minimum wage (MW).
If the income from which contributions are paid is, for example, half of the minimum wage, the insurance period will be half a month.
Thus, if your employer or you yourself, as an individual engaged in entrepreneurial activity, have not paid contributions from the minimum wage, you have not formed a month of insurance experience.
You can obtain information about your insurance record since 2003 from your local FSS office or through the FSS mobile app.
For reference
A pension is a regular cash payment to individuals who have reached retirement age, are disabled, have lost a breadwinner, or are in connection with long-term professional activity and allow a person to live a full life, both physically and spiritually.
