VILNIUS — Finance Minister Ingrida Šimonytė announced the government’s plans to repay pensioners what they are losing through austerity measures by 2014.

The announcement will be key in getting President Dalia Grybauskaitė to agree to sign the new budget when it is passed by the Seimas. She said that she would veto any budget that cut social benefits and had no compensation for the elderly, dependent on state funds. The government is [private_supervisor]trying to push through stricter-still austerity measures to get into the eurozone by 2014.

Under the government’s new plans for the next year, 1 billion litai (€290 million) would be saved by reducing pensions by around 5 percent across the board if parliament passes the new budget.

People who lose money now however, will be repaid in full when the country is in better shape financially. The elderly will be repaid first.

“We have a number of financial plans — in 2012 we plan to have the 3 percent deficit limit, we also plan to launch a SoDra Pension reform and if all this is done, compensation could start in 2014,” Simonyte said.

The Ministry of Social Security and Labor will need to come up with the details of the entire compensation plan before October 2011, when they will be presented for consideration in the Seimas.

Around 800,000 pensioners receive money from the government. [/private_supervisor] [private_subscription 1 month]trying to push through stricter-still austerity measures to get into the eurozone by 2014.

Under the government’s new plans for the next year, 1 billion litai (€290 million) would be saved by reducing pensions by around 5 percent across the board if parliament passes the new budget.

People who lose money now however, will be repaid in full when the country is in better shape financially. The elderly will be repaid first.

“We have a number of financial plans — in 2012 we plan to have the 3 percent deficit limit, we also plan to launch a SoDra Pension reform and if all this is done, compensation could start in 2014,” Simonyte said.

The Ministry of Social Security and Labor will need to come up with the details of the entire compensation plan before October 2011, when they will be presented for consideration in the Seimas.

Around 800,000 pensioners receive money from the government. [/private_subscription 1 month] [private_subscription 4 months]trying to push through stricter-still austerity measures to get into the eurozone by 2014.

Under the government’s new plans for the next year, 1 billion litai (€290 million) would be saved by reducing pensions by around 5 percent across the board if parliament passes the new budget.

People who lose money now however, will be repaid in full when the country is in better shape financially. The elderly will be repaid first.

“We have a number of financial plans — in 2012 we plan to have the 3 percent deficit limit, we also plan to launch a SoDra Pension reform and if all this is done, compensation could start in 2014,” Simonyte said.

The Ministry of Social Security and Labor will need to come up with the details of the entire compensation plan before October 2011, when they will be presented for consideration in the Seimas.

Around 800,000 pensioners receive money from the government. [/private_subscription 4 months] [private_subscription 1 year]trying to push through stricter-still austerity measures to get into the eurozone by 2014.

Under the government’s new plans for the next year, 1 billion litai (€290 million) would be saved by reducing pensions by around 5 percent across the board if parliament passes the new budget.

People who lose money now however, will be repaid in full when the country is in better shape financially. The elderly will be repaid first.

“We have a number of financial plans — in 2012 we plan to have the 3 percent deficit limit, we also plan to launch a SoDra Pension reform and if all this is done, compensation could start in 2014,” Simonyte said.

The Ministry of Social Security and Labor will need to come up with the details of the entire compensation plan before October 2011, when they will be presented for consideration in the Seimas.

Around 800,000 pensioners receive money from the government. [/private_subscription 1 year]

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