The average old-age pension will rise to 287.57 euros on Jan. 1, with 167.4 mln euros earmarked in the budget for this purpose.
Prime Minister Saulius Skvernelis has said that if the state's revenues grow, pensions could be increased by another 23 euros on average in 2018.
The government's program envisages raising pensions by 40 euros on average by July 2017, as promised by the Peasant and Green Union, the party that triumphed in the October general elections, but next year's budget does not provide for such an increase.
Finance Minister Vilius Sapoka has told that delivering on the promise would require an additional 120 mln euros in budget funds.
Pensions were last raised by 8 euros on average last January.
