On voluntary insurance of the additional accumulation pension

Specialists of the Vitebsk Regional Department of the Social Protection Fund (the Fund) and the Committee for Labor, Employment and Social Protection of the Vitebsk Regional Executive Committee conducted extensive informational and explanatory work on the topic of voluntary insurance for additional accumulative pensions in 2024, in accordance with the Decree of the President of the Republic of Belarus dated September 27, 2021, No. 367 "On Voluntary Insurance for Additional Accumulative Pensions".

What makes the system of voluntary insurance for additional accumulative pensions attractive for employees? 

There are several positive aspects: 

  • by participating in voluntary insurance for additional accumulative pensions, citizens receive a simple and accessible way to increase their income in old age; 
  • importantly, part of the employee's additional pension savings is formed from state funds; 
  • the employee is granted the right to receive a social tax deduction on the amount of insurance contributions paid from the employee's funds for the future accumulative pension, i.e., a benefit on income tax; 
  • the possibility of inheriting pension savings; 
  • guarantee of the safety of pension savings, as the state guarantees insurance payments under insurance contracts concluded with the Republican Unitary Insurance Enterprise "Stravita". 

According to departmental reporting as of January 1, 2025, provided by payers in the Vitebsk region to the Fund, 740 organizations in the region make contributions to the insurance premiums in RUSP "Stravita" to the personal accounts of 4,350 employees - participants of the new pension program of voluntary insurance for additional accumulative pensions with financial support from the state. 

Among the regions of the area, the leaders in the number of employees whose additional pension savings are being formed are: 

the city of Novopolotsk - 1,313 participants; 

the October district – 816 participants; 

the Orsha district – 572 participants; 

the Polotsk district – 407 participants. 

The top 5 enterprises whose employees actively participate in the new pension program are: 

OAO "Naftan" - 705 employees; 

RUP "Vitebskenergo" - 242 employees; 

OAO "Polotsk-Steklovolokno" - 150 employees; 

UP "Vitebskoblgaz" - 145 employees; 

RUPTP "Orsha Linen Mill" - 52 employees.