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For many of these beneficiaries, pensions are increasing; the change depends on last year’s salary and Sodra’s contributions.
“This year, the pension renewal for working pensioners took place earlier than last year; most beneficiaries start receiving renewed pensions in March, along with pension arrears that have emerged since January. Some Working retirees and disability pension beneficiaries received renewed pensions as early as February.
In total, more than 200 thousand pensions were renewed. Residents are informed about the renewal in person, through Sodra accounts, ”says Violeta Latvienė, Sodra deputy director.
Sodra pays all the increased and recalculated pensions this year on time.
As the pension increases, the minimum pension supplement may decrease.
This year, social security pensions increased on average 9.58 percent. The average old-age pension with the required seniority reached 440 euros (an increase of 41 euros compared to the previous year) and the average pension – 415 euros (an increase of 38 euros). The growth of each person’s pension depends on their seniority and the number of pension units.
Pension supplements are paid to social security pension beneficiaries who receive the lowest pensions. The amount of all pensions received by those who have the required time of service cannot be less than the amount of the minimum consumption needs. In 2020 it amounted to 257 euros and in 2021 it increased to 260 euros. If a person has not accumulated the required service time, they pay less. The amount of the bonus depends on the ratio of the length of service available to that required.
“In February, we received many questions from the population receiving the lowest pensions about why their pensions were lower in February than in January. This may be due to the fact that in January these people received a pension increase and bonus for 2020 in December and February for an increased pension with January premium. In most cases, the bonus has decreased slightly as the amount of the pension itself has increased, “explains V. Latvienė.
Photo by Josvydas Elinskas / 15min / Euros in cash
For example, a person with the required seniority had a retirement pension of € 230 last year and it was less than € 257, so they also received a supplement of € 27 for small pensioners.
After indexation, his pension in January 2021 reached 250 euros. Pensions are paid for the current month, so that in January the resident received a pension of 250 euros. Meanwhile, the premiums are paid the previous month, so in January the resident received a December premium, which was calculated on the basis of the pension received in December and amounted to 27 euros. So, in January, the person received a total of 277 euros.
In February, the resident received an increased pension of 250 euros and a January supplement, which amounts to 10 euros, so the total amount of pensions and benefits would not be less than 260 euros. Thus, compared to January, the resident received a lower amount, but compared to December 2020, this amount increased.
State and social pensions have increased
Since the beginning of this year, 1.2 percent. state pensions increased and the base of state pensions increased to 58.70 euros. This means that victims, investigators and recipients of first and second degree state pensions, officials and soldiers have received higher benefits since February.
Since February, the increase has also been received by residents who have not acquired the minimum seniority to receive a social security pension, beneficiaries of social assistance pensions. The base of the welfare pension has increased from 140 to 143 euros.
Photo by Sigismund Gedvila / 15min / Old age
Beneficiaries of social assistance pensions who have not completed the time of service due to the care of the disabled or the raising of at least five children in the home for at least 15 years and present documents that show that they are paid an old-age pension of social assistance in the amount of 1.5 base of social assistance pension. This amount is now € 214.5.
Changes in early retirement benefits
Recipients of early retirement pensions have not only experienced an increase in pensions due to indexation. This year a more favorable percentage reduction in pensions is also applied.
When calculating the amount of the early retirement pension, a reduction of 0.32 percent is applied for each month remaining until retirement age. So far, a reduction of 0.4 percent has been applied for each month remaining until retirement age and after retirement age, for each month of early retirement.
Old-age pension beneficiaries who previously had taken early retirement have also innovated. The old-age pensions of these residents were recalculated without reducing them because they received an early old-age pension if they had received an early old-age pension for a maximum of 3 years and if their length of service at the time of the old-age pension was at least 40 years.
The recalculated and unreduced pensions will be paid no later than the end of this month, along with the payment of the pensions overdue in January and February.
As of January this year, there were more than one million pension beneficiaries in Lithuania, including 614 thousand retirees.
If retirees who have previously received early retirement do not meet the above conditions, their old-age pensions have been recalculated with a reduction of 0.32%. per month.
As of January this year, there were more than one million pension beneficiaries in Lithuania, including 614 thousand retirees. 545 thousand old-age pension beneficiaries have the required service time, almost 70 thousand people have not accumulated the required service time. Approximately 70,000 retirees continue to work. More than 4.5 thousand people receive early retirement pensions.
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