Lukashenko signs ordinance on additional voluntary pension insurance
<p> MINSK, Sep 27 - PrimePress. President of Belarus Alexander Lukashenko on 27 September 2021 signed Ordinance #367 “On Voluntary Insurance of Additional Funded Pension”, the president’s press service reports. </p> <p> </p> <p> “The document provides that starting from 1 October 2022 employees will have the right to pay an additional insurance contribution to the funded pension in the amount of up to 10% of their earnings (in addition to the mandatory insurance contribution to the Social Security Fund in the amount of 1% of the salary). At the same time, employers will be required to make additional payments commensurate with employee contributions (but not more than 3%) to funded pensions from the funds provided for the payment of the mandatory 28% contribution to the budget of the Social Security Fund,” reads the statement. </p> <p> </p> <p> Under the ordinance, working citizens who are at least three years before reaching a normal retirement age will be able to participate in the new insurance system. They will receive the accumulated funds in equal monthly installments over five or ten years. </p> <p> </p> <p> The programme will be carried out by the state-owned insurance company Stravita, which is already providing voluntary life insurance and supplementary pensions. </p> <p> </p> <p> The ordinance stipulates that the insurance reserves for funded pension insurance will be deposited in bank accounts and invested in relevant assets in line with the procedure established for insurance companies. </p> <p> </p> <p> Contributions to the pension insurance guarantee funds are set at 0.5% of the amount of insurance contributions and are transferred monthly by the insurer to the national budget. End </p>
2021-09-28
Primepress
Lukashenko signs ordinance on additional voluntary pension insurance
MINSK, Sep 27 - PrimePress. President of Belarus Alexander Lukashenko on 27 September 2021 signed Ordinance #367 “On Voluntary Insurance of Additional Funded Pension”, the president’s press service reports.
“The document provides that starting from 1 October 2022 employees will have the right to pay an additional insurance contribution to the funded pension in the amount of up to 10% of their earnings (in addition to the mandatory insurance contribution to the Social Security Fund in the amount of 1% of the salary). At the same time, employers will be required to make additional payments commensurate with employee contributions (but not more than 3%) to funded pensions from the funds provided for the payment of the mandatory 28% contribution to the budget of the Social Security Fund,” reads the statement.
Under the ordinance, working citizens who are at least three years before reaching a normal retirement age will be able to participate in the new insurance system. They will receive the accumulated funds in equal monthly installments over five or ten years.
The programme will be carried out by the state-owned insurance company Stravita, which is already providing voluntary life insurance and supplementary pensions.
The ordinance stipulates that the insurance reserves for funded pension insurance will be deposited in bank accounts and invested in relevant assets in line with the procedure established for insurance companies.
Contributions to the pension insurance guarantee funds are set at 0.5% of the amount of insurance contributions and are transferred monthly by the insurer to the national budget. End