Lithuanian pensioners may receive six percent pension raise in 2016

According to Social Security and Labor Minister, Algimanta Pabedinskiene, pensions in Lithuania may increase by an average of 6 percent, or 16 euros per pensioner, in July 2016.

"We are watching and making forecasts regarding next year,” she said during a press conference on August 11, 2015. “We believe pensions will have to be raised on Jul. 1, 2016, and they will increase by an average of 6 percent for all pensioners.”

The increase would require 75 million euros from the state social insurance budget, in addition another 10 million euros from the central government budget.

In early August this year, Lithuanian President Algirdas Butkevicius said pensions could be increased by at least 6 euros in 2016.

On July 1, 2015, Lithuania’s government raised the basic state social insurance pension by 3 euros to 108 euros. 

The insured income level also increased from 431, to 434 euros.

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