For each pension accumulated, the state will transfer nearly 200 euros this year.

At this time, from this year, 1.55%. The cost of each employee has been reduced by one point. Deductions from private pension funds will continue to be reduced steadily and the accumulation of more than 3% will continue to be the same. may benefit from a personal income tax relief for an amount greater than the limit set for accrual accounting.

As announced by the Ministry of Social Security and Labor (SADM), every 3% A person who pays a pension from his own salary receives from the state € 16.4 per month for his pension account. An annual amount of € 196.8 is allocated by the State, which becomes the property of the person who accumulates.

This amount will change each year according to the average salary change, with the state accumulating 3% each. allocates 1.5% per year since the average salary of last year.

People who accumulate 1.8 percent of the state budget also receive an incentive contribution from the state budget, but it is lower and reaches 0.3%. since the average salary of last year. Public aid increases with personal contribution – when the contribution reaches 3%, the state share will be 1.5%.

During the restructuring of the tax system, it was agreed to reduce the tax burden of workers by 1.55%. – 1 percent The lowest tax rate of 0.55% and the lower rate of 0.55% are set for the year. point lower contributions to Sodra.

According to the Ministry of Finance, the reduced rate of personal income tax is set at 145 million LTL. 60 million EUR, reduced contributions to Sodra – 99 million EUR EUR

According to the DADM, the reform of the pension fund system has decided to reduce deductions from pension funds or, in general, administrative costs.

Until now, deductions for the management of pension funds could reach 1%. from the average annual value of pension funds and from 2019. Administrative costs should not exceed 0.8% from 2020. – not more than 0.65% from 2021 – 0.5%

When the average annual value of pension fund badets managed by a pension accumulation company reaches 2.5 billion. The ceiling for deductions is reduced to 0.4%.

The standard of pension accrual is 3%. pre-tax salary. Starting to accumulate or accumulate only with Sodra funds can delay you by 1.8%. At that time, the contribution will increase to 3% in five years. If a resident wants to accumulate more than the standard formula, he must report it to his pension funding corporation.

Individuals who accumulate more than their 3% goal will be able to benefit from personal income tax relief – the amount of these contributions will reduce taxable income, meaning that a portion Personal income tax paid can be recovered by declaring income.

In January of this year, there were 1.29 million. second pillar pensioners, but from them provide incentives in the amount of 839 000 January. people who have paid contributions.