No Picture
Economy

Painful personal losses have not been avoided during two months of the pension reform

After start of the reform of pension accumulation at the beginning of January, a number of employees calculating their personal financial losses and regretting their decision is approaching to 100. According to the Lithuanian Association of Investment and Pension Funds (LIPFA), that number of participants in the 2nd pillar pension funds has tried to refuse returning to Sodra. […]

No Picture
Economy

Welcome to Vilnius workshops to support foreign talent relocating to Lithuania’s capital

This Tuesday Vilnius’ business development and tourism agency Go Vilnius at the Workland Business Centre announced a series of dedicated workshops slated to begin taking place later this month. The Welcome to Vilnius workshops are designed to facilitate the transition of foreigners coming to the city to pursue professional opportunities. In just a few hours, workshop participants will receive invaluable information to help them navigate bureaucracy, settle into day-to-day life, and ultimately, become a local. The workshops will also give participants an opportunity to ask a team of experts specific questions, take part in a tour of Vilnius and meet other foreigners, a press release from Go Vilnius states. […]

No Picture
Economy

Retirement pension rises 7%

With January arriving, pensioners will see an increase to their pensions. Some of them will have their pensions delivered not by Lithuanian Post staff, but new pension carriers. Changes also await those enrolled in pension funds. All those enrolled will be making payments from their wage, while those unwilling to participate in the pension accumulation system will have the right to opt out within half a year, lrt.lt writes. […]

Rokas Masiulis
Politics

Ministry of Transport and STT will audit the Ministry of Education and Science and subordinate institutions

In order to resolve the country’s problems with teachers’ wage payments and to find resources for this, audit is to be initiated in the Ministry of Education and Science, as well as 17 of its subordinate regulatory institutions. The audit was initiated by Minister of Transport and Communications Rokas Masiulis, who is the interim minister of education and science, a press release states according to lrt.lt. […]

Romas Lazutka
CORPORATE

Romas Lazutka. Who is it that rules us and does Tapinas impact them?

If you think that it is politicians that rule us, you are mistaken. They do not rule, instead they have been bickering for two years, if not over fur coats, then over the budget. And neither the fur coats, nor the budget is theirs. The fur coats belong to Greta, the budget – to Vilius [Šapoka]. As for ruling, that’s only by the hired prime minister and finance minister from uber. Neither of them is a politician by personal choice. The prime minister at least did his work for the party during the elections, while the minister of finance is akin to having been summoned from nowhere through the taxi app. […]

No Picture
Economy

Lithuanian social insurance surplus to grow 73 pct next year, pensions to rise 8 pct

The Lithuanian state social insurance fund Sodra‘s draft budget for 2019 targets a revenue surplus of 396.959 million euros, up by 167.942 million euros, or 73.3 percent, compared with the estimate for 2018. […]

No Picture
Economy

Seimas takes another step to setting ceiling on social security contributions

The Lithuanian parliament on Friday took another step toward adopting a part of the government’s proposed tax reform package, including setting a ceiling on social insurance contributions, shifting a part of these contributions onto the employee and taxing it at 19.5 percent, and using only central government budget funds to pay the basic part of pensions. […]

Lithuanian Govt presents reform
Economy

Government suggests stopping insurance payments to pension funds, funds to remain

Lithuania’s government has suggested terminating payments from the state-run social insurer Sodra to second-pillar pension funds. Employees who want to continue the payments will be able to pay 4 percent of their salaries, with the state adding another 2 percent of the average monthly salary. […]