During a meeting with the opposition Seimas Liberal Alliance faction on Tuesday, I. Ruginienė addressed the potential allocation of the Social Insurance Fund (ELTA) surplus, which is anticipated to be close to a billion units this year. Ruginienė advocated for utilizing these funds to significantly increase the level of pensions, citing the current low payout rates and noting that pensioners represent a demographic facing high rates of poverty.
She proposed that allocating a 2% to 4% increase to current pension levels from the available surplus would be financially viable and would not negatively impact the fund’s growing reserves or the overall stability of the pension system. Ruginienė emphasized that such an adjustment should be implemented. However, this proposal contrasts with the stance presented by the head of the Social Protection and Labour Ministry (SADM).
According to the SADM representative, there is currently no discussion regarding the use of the ELTA surplus. Officials noted that the utilization of these funds is governed by strict regulations, and the accumulated reserves within the fund are considered valuable assets that must be preserved. This indicates a divergence in policy recommendations regarding the immediate financial needs of pensioners versus the long-term fiscal management of the national insurance fund.
Topics: #increase #pensions #surplus
