V.Šilinskas: we can see how the pension system could be improved in the next term Business

Further changes could be initiated in the next term, he said.

“We see that there are things that, if the social partners agree, it is possible to do and accept this term,” Minister Vytautas Šilinskas told LRT radio on Tuesday.

“I see where it is possible to change and do better, but we would not be able to do that in this term. It would be a longer period, more discussions and more time are needed,” said the minister.

Proposals for changes in the second tier of pensions will be considered by the Tripartite Council representing the interests of the Government, employers and employees on Tuesday.

The Ministry of Social Security and Labor last week offered more options to temporarily stop the accumulation of pensions in these pension funds, and to terminate it early due to serious progressive illness or disability.

At that time, the representatives of the employees do not support the proposals, while the employers support them.

“In our opinion, that choice (when funds can be withdrawn from the second tier – BNS) is still too little (…). It’s just that those corrections and proposals are more cosmetic,” said Dalia Jakutaviče, chairperson of the Federation of Lithuanian Industry Trade Unions, to LRT radio.

According to her, people should be allowed to choose how to save for their pensions, rather than being automatically included in the second tier of pensions.

In her turn, the executive director of the association “Investors’ Forum” Rūta Skyrienė said that there should be less autonomy in pension accumulation and exceptions to leave this system.

“We support the ministry’s proposals (…), we need to have a final list, as short as possible, when we can withdraw that money, temporary suspensions should be left as they are now,” said R. Skyrienė to LRT radio.

The ministry prepared the amendments to the Law on Pension Accumulation after the Constitutional Court (CT) announced in March of this year that people must be allowed to withdraw from pension funds for important reasons, which must be determined by the Government and the Seimas.

According to SADM, 766 thousand people are actively saving for pension in Lithuania. people. Second-tier pension funds have now accumulated 8.2 billion. euros, of which 2.4 billion euros, or almost 30 percent. is the amount earned.