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

Lithuania is benefitting from a project financed by the European Commission via the Technical Support Instrument (TSI) to transform the existing fully state-administered funded pension scheme. The project is implemented by the International Labour Organisation (ILO), in cooperation with the European Commission, and with the Lithuanian Ministry of Social Security and Labour. It is to support the preparation of reforms to increase second pillar coverage and improved complementary pension benefits in the long run for the Lithuanian workforce, and better adequacy of retirement income more broadly. The project is to build enhanced capacity with the Lithuanian authorities to assess a transition of the current Mandatory Funded Pension System (MFPS) towards an occupational pension system.

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