Pension
The retirement age in Lithuania is 64 years and 8 months for females and 64 years and 10 months for males, increasing to 65 years for both men and women by 2026. A person becomes eligible for an old-age pension when they reach retirement age and have at least 15 years of insurance record for state social pension and an obligatory 34 years of work experience, gradually increasing to 35 years by 2027.
The pension consists of a basic pension and a supplementary part. The basic portion of the pension equals 110% of the state social insurance basic pension (EUR 65 (Euros) per month), provided the person has completed 32 years of work experience with an insurance record.
The funds for this pension are sourced from contributions by employees and employers.
Dependents/Survivors Benefits
The spouse (must be of retirement age or declared incapable of work), children, and adopted children of a deceased person are eligible for the survivors pension. The deceased employee must have acquired the right to receive the state social insurance work incapacity pension or old-age pension or had at least 15 years of insurance coverage. The widow or widower is entitled to the basic amount of the state social insurance survivor’s pension approved by the government on the Ministry of Social Security and Labor's recommendation. This amount cannot be less than EUR 42.29. For the deceased’s children under 18 years of age or disabled children, the pension varies depending on their situation.
The funds for this pension are sourced from contributions by employees and employers.
Invalidity Benefits
In Lithuania, persons who are assessed as incapacitated or partially able to work (with at least 45% incapacity for work) are eligible for an incapacity pension. The minimum number of contributions required for the pension varies from one year to 35 years, depending on the employee's age.
The incapacity pension is calculated as the sum of a basic work incapacity pension, its supplementary portion, and a bonus for the service's length. Pension recipients who have lost 60% or more of their ability to work and earn less than the minimum consumption requirement in Lithuania are entitled to a pension supplement.
The funds for this pension are sourced from contributions by employees and employers.