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Amid a rapid decline in Lithuania's worker-to-retiree pension, the central Bank of Lithuania is sounding the alarm and calling for the pension system to be reformed and for future pensions to be linked to personal contributions.
Vitas Vasiliauskas
Vitas Vasiliauskas
© DELFI / Karolina Pansevič

Vitas Vasiliauskas, the central bank governor, says that the current pension system is unsustainable as the number of working people will fall to 1.2 million in 20 years, from 1.7 million, and there will be ten workers per six retirees, down from ten per three. This means that pensions will go down unless the pension system is overhauled.

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