Opinions & Interviews

Lukashenko: Belarusian pension system needs reforming

Photo: pravo.by

MINSK, 28 February (BelTA) – The current pension system has outlived its usefulness and needs to be reformed, Belarus President Aleksandr Lukashenko said at the Congress of the Federation of Trade Unions of Belarus on 28 February, BelTA has learned.

“The pension system we have today has become obsolete. After the presidential election (be it me or someone of you), we will have to deal with the matter. If we continue to work, then we will start this work by the end of the year. We need to make sure that a working person should understand that he will be better off at retirement if he works longer.  There should be no one-size-fits-all approach!” Aleksandr Lukashenko said. 

According to the president, it will be not difficult for Belarus to address the issue. The country studies the best practices of other countries, including Russia. “I spoke a lot about it with Vladimir Putin. We will also consult with those who had introduced funded and other types of pensions, which did not work. Taking into account their experience and the systems that exist in the world, we will set up the best pension system in Belarus, taking into account our capabilities. The best system does not mean that we will provide everyone with a lot of money. It will be a fair and good system,” the Belarusian leader said.

The protection of pensioners’ interests is a priority for the state, he added.

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