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Tuesday, 17.01.2017, 10:58
Some 593,000 old-age pensioners and 202,000 disability pensioners in Lithuania will receive higher pensions starting January after the government approved on Wednesday an average increase of 20 euros in pension payments, reports LETA/BNS.
Keyword tags: Budget, Financial Services, Lithuania, Pensioners, Quality of life
Provisional data of the Central Statistical Bureau (CSB) show that in 2015 social protection expenditure in Latvia accounted for 3 619.7 million euros and, compared to 2014, it has grown by 201 million euros or 5.9%. Expenditure on support for families and children increased by 24.1%, expenditure on support for disabled persons by 7.8%, and social expenditure on sickness and heath care by 7.5%.
During the first ten months of 2016, Latvia's private pension funds increased their aggregate capital by EUR 27.568 mln or 8.3 % to EUR 357.965 mln, the Association of Latvian Commercial Banks informed LETA.
In the third quarter of this year the capital accumulated in the government-funded or second-pillar pension scheme in Latvia grew by EUR 136 mln, of which EUR 101 mln were contributions by the pension scheme participants and EUR 35 mln was net investment result, according to the information from the Latvian Association of Commercial Banks writes LETA.
The 2016 Pension Sustainability Index compiled by German insurance company Allianz shows the pension system of Latvia as the seventh most sustainable in the world, followed by the pension system of Estonia in eighth place, writes LETA/BNS.
– The Estonian Financial Supervision Authority on Oct. 10 registered the terms and conditions of Birdeye Timber Fund 2, an Estonian real estate investment fund investing in forest land that has Estonian pension funds of Swedbank and pension funds of LHV as anchor investors, reports LETA/BNS.
All plans in Latvia's government-funded pension scheme showed positive yield at the end of September 2016, according to publicly available information on the government-funded pension plans, reports LETA.