Opinions & Interviews

ZHLOBIN, 12 April (BelTA) – The retirement age increase will not lead to a deficit of jobs, Belarusian Prime Minister Andrei Kobyakov told journalists on 11 April commenting on decree No. 137 “Concerning the improvement of the pension system”.

“The incremental raising of the retirement age will create conditions for an increase in the number of the employed in Belarus. In 2017 alone, we will need some 18,000 additional jobs. The instruction of the head of state is to create 50,000 new jobs annually. Therefore, the retirement age increase will not lead to a jobs deficit,” Andrei Kobyakov emphasized.

The growth in the number of the employed will boost Belarus’ GDP. Besides, it will help maintain the ratio between the average retirement pension and the average salary at 40%. “When the retirement age stood at the same level, it was becoming more and more difficult for us to maintain the ratio,” the Prime Minister explained.

Belarus President Alexander Lukashenko signed decree No. 137 “Concerning the improvement of the pension system” on 11 April. In accordance with the decree, starting from 1 January 2017 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.

Heads of organizations regardless of the form of ownership are recommended to encourage employers and employees to take part in voluntary pension insurance programs.