Labor pensions in Belarus will increase by an average of 10% from November

October 29, Minsk /Elena Prus - BELTA/. In Belarus, labor pensions will increase by an average of 10% from November this year. Additional expenses for these purposes will amount to Br135.7 billion per month. This was reported to BELTA correspondent by Deputy Minister of Labor and Social Protection Valentina Koroleva, commenting on the decree on increasing labor and social pensions from November. The pension increase will be felt by over 2.4 million people receiving labor pensions within the system of labor, employment, and social protection bodies. The average labor pension for old age will increase from Br555 thousand in October to Br610.9 thousand in November. The Deputy Minister drew the pensioners' attention to the fact that the amount of pension increase for each individual will depend on their personal parameters of service record and earnings, as well as supplements and increases established for the pension. The maximum labor pension for old age for non-working pensioners with a service record of 40 years for women and 45 years for men, and an individual coefficient of 4.0 or higher, will reach Br954.9 thousand from November (in October - Br864 thousand 100). For working pensioners with a service record of 40/45 years and an individual coefficient of 1.3 or higher, the maximum labor pension for old age will be Br693 thousand 150 from November (in October - Br627 thousand 240). The decree also establishes a monthly supplement to social pensions for disabled children under 18 years of age, disabled persons of group I, II, and III (including disabled persons since childhood), and children who have lost their breadwinner, in the amount of Br40 thousand. There are about 50 thousand such recipients in the country. "The necessary funds for the payment of increased pensions are available in the Social Protection Fund of the Ministry of Labor and Social Protection," assured the ministry representative. "Payments in new amounts will begin on November 1, and they will be made on time and in full." Valentina Koroleva noted that this year, as in previous years, the trend of steady pension growth continues. By decisions of the head of state, recalculations of labor pensions based on the growth of average wages were carried out on January 1 and August 1, 2010. In addition, due to the increase in the subsistence minimum budget, minimum labor and social pensions, as well as supplements and increases to pensions, were raised three times (on February 1, May 1, and August 1). As a result of these recalculations, pensions have increased by 23.5% since the beginning of the current year. From November 1, another recalculation of minimum labor and social pensions, supplements, and increases to pensions will take place due to the change in the subsistence minimum budget - it has increased by 3.1%. "Recently, expenses for financing pension payments have been around 10% of GDP," said the Deputy Minister. "Overall, the growth rate of pensions is comparable to the growth rate of wages in the republic, and the ratio of the average old-age pension to the average wage exceeds 40%." Valentina Koroleva expressed confidence that by the end of 2010, all forecast indicators for the level of pension provision will be met. -0-