Labor pensions to increase in Belarus on 1 August 2014

Labor pensions will be raised in Belarus on 1 August 2014. President of Belarus Aleksandr Lukashenko signed relevant Decree No. 366 “Concerning pension rises” on 24 July.

Under the document, labor pensions will be re-calculated as from 1 August 2014. As a result labor pensions will be raised by 7.3% on average.