In Belarus, in 2022, the retirement age and pension insurance record will be increased
Belarusians from next year expect another planned increase in the retirement age and minimum pension insurance record.
How will the retirement age change?
Another increase in the retirement age is planned for 2022, which began in 2017. Starting from next year, this figure will be 63 years for men and 58 for women, according to the website of the Ministry of Labour.
This year the retirement age for men is 62 years and 6 months, for women – 57 years and 6 months.
Earlier, officials discussed further increase in the retirement age after 2022, but it was only for women. The International Monetary Fund (IMF) also advised to increase the retirement age even more.
In the budget of the Social Protection Fund, from the budget of which pensions and benefits are paid, there has been a “hole” for several years, due to which annual infusion of funds is required – subventions from the state budget. The Ministry of Labour and other specialized departments have failed to solve this problem.
How will the minimum pension insurance record change?
Starting from next year, they will also increase the minimum length of insurance record required to receive a labour pension. It includes only the time when you worked and the employer paid insurance premiums for you to the Social Security Fund. This year, the minimum insurance record is 18 years, from January 1, 2022 it will increase by six months – up to 18.5 years.
They intend to increase the minimum insurance record to 20 years (this will happen in 2025). Belarusians who have not worked out their insurance record according to the new rules fall into a “pension trap”, they cannot apply for a labour pension; they can only be assigned a social pension: men – from 65 years old, women – from 60 years old. Now the social pension is 141.73 BYN.
Earlier, from January 1, 2020, military service began to be included in the insurance period. This innovation at the stage of discussion was not supported by the Ministry of Labour and the Ministry of Finance. At the same time, the authorities did not accept the changes concerning studies at a university and maternity leave, the inclusion of which was discussed along with service in the army.