Labour pensions of all types to increase by 7% in Belarus
The Ministry of Labour and Social Protection announced the rates of pensions in March after their increase. On average, payments will increase by 7%, the press service of the department reports.
“As a result of the increase, the average old-age pension of a non-working pensioner in March 2022 will amount to BYN 580 (including supplements and additional payments) thus increasing by 13.2% compared to March last year,” the report says.
On average, old-age pensions will increase by BYN 34. The increase in the pension of a particular pensioner depends on the length of service and earnings taken into account.
In total, the increase in pensions will cost BYN 75.7 million a month. Through the end of the year, BYN 757 million will be allocated for these purposes. The total pension payments in 2022 are planned to reach the level of BYN 16.1 billion.
From March 1, labour pensions of all types will be increased: old-age pension, long service pension, disability pension, loss-of-breadwinner pension. Unfortunately, the increase in pension rates does not compensate for inflation, rise in prices and the drop in the Belarusian ruble exchange rate.