Lithuania Introduces Higher Pensions for People Who Applied Late
Translated from Lithuanian and summarized by DistantNews. Read the original for the full story.
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- Amendments to Lithuania’s pension law took effect on Sept. 1.
- People who delayed applying for an old-age pension can now receive an 8% increase for each full year during which the pension was due but unpaid.
- Previously, late applicants received payments for only 12 months and did not receive the increase.
People in Lithuania who delayed applying for an old-age pension can now receive more money under amendments that took effect on Sept. 1.
The new rules treat a pension as deferred when a person has reached retirement age but has not applied for it or received payments. The pension will increase by 8% for each full year in which it was due but unpaid.
Previously, a late applicant could receive back payments for only 12 months, and the pension was not increased. The amendments were initiated by Seimas member Linas Kukuraitis.
About this summary
Originally published by Delfi in Lithuanian. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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