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03 January 2017, 13:17

Belarus raises retirement age

MINSK, 3 January (BelTA) – The changes to the retirement age regulations became effective as of 1 January 2017, BelTA informs.

Belarus President Alexander Lukashenko signed decree No. 137 on the improvement of the pension system on 11 April. The document entered into force on 1 January 2017. In accordance with the decree, the standard pension age will be gradually increased by six months every year until it reaches 63 years for men and 58 years for women. There will be the same increase in the retirement age (by three years during the period of six years) for those entitled to preferential, long-service and military pensions.

According to the estimates, the old-age pension will be awarded to approximately 55,000 people annually in the period before the year 2022. As the retirement age increases, the pre-retirement age will be increasing accordingly.

Belarus has established employment guarantees for the people nearing the retirement age. The Labor and Social Security Ministry stressed that the guarantees for workers approaching the pre-retirement age (conclusion/ extension of contracts before reaching the new retirement age) remain in place.

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