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On Monday, the Seimas determined that people who have reached retirement age, who have worked for 40 years or more and have received an early retirement pension for no more than three years, will be able to receive a full old-age pension, instead of reduced, from 2021.
74 Seimas members voted in favor of said amendment to the Social Security Pensions Law, four against and three abstained.
Old-age pensions already granted in December of this year to those who will start receiving early retirement will not be reduced if people meet the same requirements: they have received early retirement for a maximum of three years and have more than 40 years of service .
It is proposed to begin paying non-reduced old-age pensions to these residents no later than the end of March 2021, paying the difference in pension amounts that has arisen since January.
There are 280 people in Lithuania with long experience and receiving early retirement.
The changes would take effect from 2021, and the required duration of service for beneficiaries of such pensions would increase by three months each year. For example, 41 years of service will be required in 2025, and after 2026, when men and women will be able to retire only at the age of 65, the required length of service will increase to 35 years, and for those who have received three years of service. early retirement, you will want to receive a non-reduced pension, the required duration of service from 2027 will be 41 years and 6 months, and in 2031 and later, 42 years and 6 months.
In Lithuania, you can now receive an early pension if you are five years away from retirement, the person has accumulated the required duration of service and has no other income, but his future pension decreases by 0.4% every month. – this means that a person of retirement age receives a much lower benefit.
Early retirement pensions, which average 280 euros, have been paid since July 2004. They now receive around 5.7 thousand. people and their average duration of service is 35.9 years.
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