Additional pension will appear in Belarus from October 1

In Belarus, from October 1, every working citizen who has at least three years left before reaching retirement age will be able to conclude a voluntary funded pension insurance contract with the support of the state, Minsk-News reported.

It will be possible to transfer from 1% to 10% of wages to savings. And an equal percentage, but not more than 3%, is directed by the employer. The employer will be compensated by the Social Protection Fund of the Population, so he will not incur an additional financial burden.

The contributions paid by the employee and the employer will work in the economy with the help of financial instruments: government securities, bonds and deposits in state banks. For voluntary accumulative pension insurance, a guaranteed return in the amount of the refinancing rate has been established.

The payment of the additional pension will be made in equal shares for five or ten years at the choice of the insured. What is important is that the pension accumulated in this way is inheritable.

The amount of payments depends on the salary and the percentage of deductions, the refinancing rate and many other factors. Based on the average salary of 1,400 Belarusian rubles, when the employee deducts 3% and the employer deducts 3%, the employee can additionally receive about 300 rubles every month for 5 years.

Stravita is engaged in insurance registration.

May we remind you that in the spring of 2022, the agreement on social security between Poland and Belarus came into force.

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Photo: sputnik.by