12 January 2009
Tariffs on contributions for employee’s retirement insurance defined in Belarus
In Belarus there have been defined tariffs on target contributions made by employers for the employees’ professional retirement insurance with the differentiation among the personnel working in special working conditions. Relevant decree No 23 “Tariffs on contributions for the professional retirement insurance” was signed by President of Belarus Alexander Lukashenko on January 10, BelTA learnt from the presidential press service. The document has been worked out in the pursuance of the President’s commission and in line with the Law of the Republic of Belarus “On professional retirement insurance”. With the law becoming valid on January 1, 2009, early retirement in view of the special working conditions will be financed from the professional retirement insurance (not from the pension system) which consists of the contributions made by the employers to the Social Security Fund of the Labour and Social Security Ministry. The decree secures the needs of the employees and considers the economic opportunities of the employers. The size of the tariffs is defined within 1.5-4.8% of the employees’ wages. Today more than 624,000 people working in the special working conditions are eligible for early retirement. The decree comes into force on January 1, 2009.БЕЛТА