Technical support in transforming existing fully state-administered funded pension scheme in Lithuania

This project stems from the Lithuanian authorities' request for technical support to the European Commission – DG REFORM to (i) enhance the performance of the Mandatory Funded Pension Scheme, (ii) to transform it into an occupational pension scheme, and (iii) to achieve second-round positive effects on pension adequacy as well as long-term financial sustainability. The ILO support contributes to increased second pillar coverage and improved complementary pension benefits in the long run for the Lithuanian workforce, and better adequacy of retirement income more broadly.

Project symbol

LTU/24/01/EUR

Admin unit

SOC/ASU

Start date

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End date

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Total allocation

369282

Total expenditure

Status

Active

335911

Development Partners

European Commission, Structural Reform Support Service

Country/Countries

Lithuania

Outcomes

Outcome 7: Universal social protection