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2020.01.07 12:00

Lithuanian MFA proposes annuities for retired diplomats

BNS2020.01.07 12:00

The Lithuanian Foreign Ministry has proposed to introduce annuities for retired diplomats, 15min.lt reports.

According to a bill drafted by the ministry, diplomats who have spent at least 20 years in the foreign service before retirement would be eligible to receive the payments starting next year.

The ministry says the social guarantee would help keep people in the diplomatic service, which is now the only service that remains outside the state pension system.

It suggests that former diplomats be paid annuities rather than state pensions because the service is small in size and the change would only affect around 50 people.

One of the most realistic proposals is to pay an annuity amounting to half the bonus for one's diplomatic rank at retirement, the ministry's Information Monitoring and Media Division told 15min.lt.

“Based on preliminary estimates, that would cost 46,400 euros in 2021 if the amendment took effect on January 1 and 23,200 euros if it came into force on July 1,” the ministry said, adding that by 2025 the annuity would require 157,100 euros annually.