Retirement age increased in Belarus

Men will be retiring at the age of 63 (now - 60), and women - at the age of 58 (now - 55).The retirement age has been increased inBelarus. Today, the President signed a decree On improvement of the pension system. The document was developed in response to the changing social and demographic conditions. The decree increases the retirement age by 3 years. Men will retire at the age of 63, women - at the age of 58. The changes will touch all categories of able-bodied citizens.The increase will be carried out gradually: within six years the retirement age will be increased by six months every year, starting in January 2017. The 3-year increase will have been achieved by 2023.In accordance with the decree, it is recommended to heads of organizations, regardless of the form of ownership, to use the practice of participation of employers and employees in the voluntary supplementary pension insurance programs.