State pension indexation remains unchanged under the current government, Prime Minister Mindaugas Sinkevičius announced.
The developments follow discussions involving the Lithuanian Social Democratic Party council meeting in Vilnius, where party members gathered for a mayoral candidate event.
Political Clash Over Proposed Changes
Dainius Gaižauskas raised concerns about potential cuts to pension indexation, stating that authorities might attempt to save money at the expense of retirees. “Socialdemokratai, net nebandykite kišti rankų prie pensininkų pinigų!” said Dainius Gaižauskas.
Sinkevičius rejected those concerns, confirming that the indexation system will not change while he leads the Cabinet. “Kol vadovausiu šiai Vyriausybei, jokių pensijų indeksavimų ir kitų dalykų, susijusių išmokomis, su parama nebus keičiama,” Prime Minister Mindaugas Sinkevičius said.
Vytenis Povilas Andriukaitis criticized proposals to alter automatic spending indexation during the council meeting. “Vilijos vos neištiko infarktas. Aš ją gaivinau,” said Vytenis Povilas Andriukaitis.
Andriukaitis added that the party must adopt a clear stance against reducing pensions and social benefits, noting that the political force has exhausted its allowance for mistakes. Seimo Speaker Juozas Olekas also urged party members to revisit taxation proposals targeting higher earners to help cover budget burdens.
“Reikia labai rimtai pagalvoti, kad turtingesni žmonės, kurie iš tikrųjų susikaupė tuos turtus, (…) solidariau pasidalintų tą naštą, kuri tenka šiandien mūsų biudžetui,” said Juozas Olekas.
Did You Know? The 2027 state budget draft initially included a proposal for the Ministry of Social Security and Labour to review annual pension indexation commitments, though the project was removed from a government meeting agenda.
Budget Projections for 2027
Under the government’s approved 2027 budget draft, social insurance pensions are scheduled for a 9.08 percent indexation. Average old-age pensions are projected to reach 825 euros, marking an increase of 78 euros or 10.4 percent compared to the current year.
For retirees with the required length of service, the average pension should climb by 88 euros, reaching 895 euros. President Gitanas Nausėda said that he might veto the 2027 state budget if authorities alter the established pension indexation timeline.
Frequently Asked Questions
What is the planned indexation rate for pensions in 2027?
The government’s 2027 budget project sets the social insurance pension indexation rate at 9.08 percent.
How much will the average old-age pension increase?
The average old-age pension is projected to hit 825 euros, which is 78 euros higher than this year.
What did the Prime Minister guarantee regarding benefits?
Sinkevičius assured the public that social benefits and citizen support systems will not experience alterations while he remains at the head of the government.
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