Belarus Overhauls Pension Payments: New Rules and Exceptions

Belarus Implements Mandatory Basic Accounts for Pension and Social Benefit Payments Starting July 1, 2025, a significant change in the Belarusian social security system will come into effect. Pensions and other social benefits will be transferred exclusively to "basic accounts" held at banks. This policy shift, announced by the government, aims to provide citizens with access to a range of free banking services. The move has sparked discussion and some concern among the public. However, exceptions will be made. Pensioners over 70 and disabled individuals belonging to groups 1 and 2 will retain the option of receiving their payments at post offices. This provision addresses concerns about the accessibility and convenience of the new system for vulnerable populations. Elena Gomorova, Head of the Main Department of Pension Provision of the Ministry of Labor and Social Protection of Belarus, stated in an interview: "About 80% of pensioners already receive their pensions through banks. The remaining part is paid through the post office. This decree, effective from July 1, mandates that social payments will be made to basic accounts." Olga Antonovih, Head of the Department of Electronic Payment Instruments of the National Bank of Belarus, explained the process for those who need to open a basic account: "Come to the bank with your passport. We will open a basic account for you, or convert your existing account into a basic account. You can also request a Belkart payment card linked to this account." The transition to the new system is expected to streamline social benefit payments and increase financial inclusion. The government's commitment to providing exceptions for vulnerable populations demonstrates a consideration for the needs of all citizens.