The Chair of the Lithuanian Parliament has promised that compensation for lost pension payments will begin this year

Leader of the parliament and member of the Labor Party Loreta Graužinienė says that compensation for lost pensions will begin this year; all pensioners will receive compensation proportionately, without distinction for age or other criteria. Ms.

Graužinienė said that the first version of the plan states that in 2014 compensation will amount to 178 million LTL. She believes that these funds can be found from internal reserves.

The full amount of the loss can be compensated within two to three years.

In an attempt to dig Lithuania's social security agency out of a financial hole, in December 2009 the Lithuanian parliament reduced most people’s pensions and various social benefits for two years – from 2010 to 2011. The portion of pensions still outstanding amounts to 800 million LTL.

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