"Sodra" already publishes the accumulated required length of service and accounting units recalculated according to individual data for each employee. The amount of pension you will receive in old age will depend on these amounts.
The individual data published by Sodros, which can be viewed by logging into your personal account, allows you to understand how long you will need to work until you accumulate the necessary years of service for retirement pension. Also, roughly how big it will be.
Data on available employees are submitted to Sodra every month by their employers.
Required seniority and accounting units
As is known, the required length of service for old-age pension in 2027 will reach 35 years. This size will apply to both women and men.
In addition, from 2026 the retirement age will be 65 for both men and women.
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Knowing your age and assuming that you will have the will and energy to work until retirement, you can predict how long you will have accumulated until retirement.
For example, a person who worked for 23,5 years until this January has now accumulated 48,1 accounting units.
He still has 21,5 years left before retirement age. If the person will work all the time until retirement, at that time his total accumulated necessary service will reach 45 years.
Also, if the salary does not change, a person can expect to have accumulated 92,1 accounting units before retirement.
How the retirement pension is calculated
The amount of old-age pension is calculated as the sum of its general and individual parts.
The amount of the general part is determined by multiplying the ratio of the person's acquired seniority and the required seniority (35 years) by the amount of the basic pension valid at that time (this year – 269,77 euros).
If, as in the above-mentioned example, a person will have accumulated 45 years of necessary service, then his total part of the pension will be 346,85 euros (45/35*269,77=346,85).
The individual part of the pension is equal to the product of the individual's accumulated accounting units with the valid value of one unit in that year (6,38 euros this year).
If at retirement a person had 92,1 accounting units, as in the above example, then his individual part of the pension would be equal to 587,6 euros (92,1*6,38=587,6).
Therefore, a person's entire old-age pension would be 934,45 euros.
It would only be Sodra's old-age pension. If a person accumulates a pension in Tier II funds, he can also expect an additional payment to the old-age pension.
According to "Sodra" data, the average old-age pension in Lithuania currently amounts to almost 595 euros.
The average pension with the required length of service is almost 635 euros, and without the required length of service - 378 euros.
Now there are almost 620 thousand in Lithuania. old-age pension recipients. Among them are over 78 thousand. pensioners who are currently still working.
Author: Martynas Žilionis, TV3.lt
