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The State Social Security Budgetary Indicators Law (“Sodra”) stipulates how much contributions will be paid by employed persons and how many people who are temporarily unemployed after retirement or only due to illness or other reasons will receive benefits.
The Ministry of Social Security and Labor has officially registered the Sodra budget indicators bill for next year. It has yet to be adopted by the Government and the Seimas.
However, there are usually no major changes to the project until final approval, so it is already possible to predict the level of benefits expected by the population next year.
The draft budget foresees to allocate 74.5% to social security pensions. total spending or 3.728 trillion. euros. This is 242.6 million. EUR or 7%. more than this year.
This increase in spending is due to the expected increase in pensions according to the pension indexation coefficient calculated for 2021.
Taking into account the reforms to the law, the country’s economic development scenario announced by the Ministry of Finance, pensions would be indexed (increased) by an average of 7.17%.
In 2021 the average annual old-age pension with the required length of service will amount to € 428.9 and will be € 30, or 7.5%. higher than this year, is indicated in the explanatory note of the project.
It will be recalled that the average old-age pension, both with the required seniority and without it, is currently close to 377 euros. Therefore, it should increase on average about 27 euros for all beneficiaries.
It is expected that there will be 610.3 thousand retirees next year, and the number of beneficiaries of all pensions (not only old age, but also widows, incapacity for work, etc.) will exceed 1,026 million.
According to the bill, it is proposed to increase the amount of the basic pension (on which the minimum pension depends most) next year by EUR 12.79 to EUR 193.92, and the basic amount of the widow’s pension by 1 , EUR 87 to EUR 28. orphan’s pensions).
Part of the pension spending is also paid from the state budget. The aforementioned bill foresees that about 200 million of his pension will be allocated next year. euros more than this year.
However, it is not clear whether this money is intended to be used only for ordinary pensions or for the so-called thirteenth pension, which some parties offer before the Seimas elections.
Among other things, the Ministry of Social Security and Labor predicts that the incidence of Covid-19 will decrease next year. As a result, 458.8 million will be paid to the population through sickness benefits. EUR – 12.2 percent. less than this year.
Maternity insurance benefits in 2021 369 million are expected to be used. 19.7 million euros. EUR or 5.6%. more than this year, child care benefits – 260 million. EUR (4.8% increase), for parental benefits: EUR 19 million. EUR (9.2% increase).
Social security unemployment is estimated at almost 310.8 million. euros (3.1% less than this year). The government expects the unemployed to need less money as it forecasts the unemployment rate to drop from 8.8 percent. up to 7.9 percent
In the explanatory memorandum for the project, the Ministry of Social Security and Labor predicts that Sodra’s total revenues will exceed expenditures by more than 61 million. euros.
Judging from the published Sodra budget bill, core contributions shouldn’t increase. The only increase is for some employers.
The rate of social security contributions for occupational accidents and diseases for Group II employers should increase from the current 0.4%. up to 0.47 percent
The draft prepared by the Ministry of Social Security and Labor has not yet been approved by the Government. Later, the new Seimas will vote for him.
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