Lithuania To Limit PF Contributions To 2%

The government of Lithuania is seeking to restrict its pension funds contributions to 2%, IPE reports. The social security system SODRA will keep its contribution capped to help Lithuania cope with a deficit. The Lithuanian parliament is also mulling over a reform proposal, issued by the government that would see a three-way split of pension contributions from 2013, if approved.

The increase in the contribution level is planned after 2020 and is expected to rise to 3.5%. Additionally, the government is seeking to launch an opt-out window by next year between January and September 2012.

Click here for the story from IPE.