Is it possible for working pensioners to increase their pension payments?

How can working pensioners increase their pension payments? According to the Ministry of Labour, this is possible due to the “deferred pension” mechanism.

So, pensioners who have reached retirement age can temporarily refuse from pension payments. This makes it possible to receive a bonus increase in pension payments as well as additional length of service.

How does it work?

You have reached the generally established retirement age (63 years old for men, 58 years old for women) and you have been assigned an old-age pension on a general basis.

You continue to work and refuse to receive pension payments.

After the refusal term ends, you receive bonuses:

• increase in pension payments for additional length of service (for periods of work without receiving a pension);
• bonus to pension payments.

What should be done?

• Refuse to receive a pension for at least 2 months.
• Submit a corresponding application to the social security authority at the location of the pension file.
• Continue to work with at least minimum wage.
• At the end of the selected term of refusal from pension payments, apply for the restoration of the pension payment and recalculation of its amount taking into account the bonus.
• Submit a corresponding application to the social security authority at the location of the pension file.

The Ministry of Labour and Social Protection gives some examples of an increase in pension payments:

“A woman with the length of work of 35 years and earnings at the level of 90% of the average salary of employees in the republic (individual earnings coefficient = 0.9), with a pension in April 2022 amounting to BYN 532. If she continued to work and refused to receive pension payments for 3 years, the pension in April 2022 would amount to BYN 743. In case of working without receiving pension payments for 5 years, the pension would amount to BYN 971”.

“A man with the length of work of 35 years and an average salary in the country (individual earnings coefficient = 1.0), with a pension in April 2022 amounting to BYN 514. If he continued to work and refused to receive pension payments for 3 years, the pension in April 2022 would amount to BYN 729. In case of working without receiving pension payments for 5 years, the pension would amount to BYN 951”.