OREANDA-NEWS. August 8, 2011. Retirement pensions in Belarus will be recalculated as from August 1 and November 1. Social pensions will be raised as from August 1. President of Belarus Alexander Lukashenko signed relevant ordinance #327 on July 26, the press service of the Belarusian head of state said in a press release.

As from August 1 retirement pensions will be recalculated taking into account the average salary in 2Q 2011. The measure will raise pensions by 13% on the average – from 669,000 Belarusian rubles (Br) to 757,000 rubles.

As from November 1, 2011 retirement pensions will be recalculated using the average salary in 3Q 2011. The measure will raise pensions by 7.9% on the average – from 757,000 rubles to 817,000 rubles.

Additional money required to pay retirement and social pensions is estimated at 220.6 billion rubles per month as from August 1 and 370.6 billion rubles per month as from November 1. A total of Br1.4 trillion will be required to put the measures in place. The Fund for the Social Protection of the Population of the Labor and Social Protection Ministry has the necessary money, said the press release.