Seniors double payouts by delaying
The deferred retirement program allows increasing future payouts
According to new mechanisms in Belarus, retirees who continue their employment have the opportunity to postpone retirement and thereby increase the amount of their future pensions. To participate in the program, an application must be submitted to the Social Protection Department. After ending employment, specialists will recalculate the pension taking into account the additional work experience. The final payment amount directly depends on the deferral period. It is reported that this method significantly increases retirees' income but requires careful planning and official registration.
Context
The pension deferral program introduced in 2019 provides citizens with the opportunity to strengthen their future income by limiting the amount they receive upon initial retirement.
In Belarus, retirees can increase future payments by delaying retirement. To do this, they must submit an application to the social protection department; upon ending work, a recalculation is made taking into account additional years of work.
- Category: Domestic
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- Source: https://t.me/newsby_btrc/188665
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