Belarus Visa-Free: Now For 30 Days
Official Website of the Republic of Belarus
Election of the President of the Republic of Belarus  9 August 2020
News
Belarus Events Calendar
Belarus’ Top Tourist Sites
UNESCO World Heritage Sites in Belarus
Belarusian sanatoria and health resorts
Souvenirs from Belarus
| Home | News | Opinions & Interviews

Opinions & Interviews

25 Mar 2016

Lukashenko: Raising retirement age is not enough to improve pension system

Lukashenko: Raising retirement age is not enough to improve pension system

MINSK, 25 March (BelTA) – It is not enough just to solve the retirement age issue to improve the pension system, Belarus President Alexander Lukashenko said at the session to discuss this matter on 25 March, BelTA informs.

“It is an important issue. It is in the spotlight today, but it is only a part of the pension system. Apart from raising the retirement age, we need to at least improve the entire pension system, i.e. to create the pension fund and finally raise pension benefits,” the head of state said.

Lukashenko: Raising retirement age is not enough to improve pension systemHe stressed that the resolution of this issue is long overdue. “If there is a problem, we must solve it relying on the foundation which has been created so far. We should not be afraid of reforms. There should be no frontal attacks on certain processes. I want to reiterate that our people will not understand it,” the President noted.

Lukashenko: Raising retirement age is not enough to improve pension system“When pending issues accumulate and new acute problems emerge, they need to be solved in a calm manner. It is essential to talk to people, convince our society that it is to be done,” the head of state said. Alexander Lukashenko remarked that this is how the issue of utility rates was solved: the authorities met the society half way. “There were no shocks. The point is that we increased prices (now households cover 40% of utility costs), but we also decided that we must make effort too and put some pressure on providers of utility services. If they do their best to reduce the prime cost of their services, by the end of the year we will ensure that half of utility costs are covered by households. Further steps will depend on the situation,” the President stressed.

Lukashenko: Raising retirement age is not enough to improve pension system“As for the pension system, we need to decide whether we will build the pay-as-you-go system or the system of defined contributions. People approved of our proposal to keep the pay-as-you-go system which exists in the country today and to build the system of defined contributions on a voluntary basis,” Alexander Lukashenko noted.

Lukashenko: Raising retirement age is not enough to improve pension system“As a result, if the situation is appropriate we will introduce the defined-contributions system similar to those used in Western countries. Or we will reject it if it does not suit us and retain the pay-as-you-go system which exists in Belarus today. At the same time, we are monitoring this issue and are developing the new system in our country,” the President said.

Archive
Su Mo Tu We Th Fr Sa
Great Patriotic War monuments in Belarus
Partisan Chronicles