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Saturday, 25.05.2013, 20:32
Even though pensioners are strongly demanding that indexing of pensions resume, and these demands are also supported by politicians, the collapse of the joint-stock metallurgical company Liepajas metalurgs may put these plans on hold, Welfare Minister Ilze Vinkele (Unity) said in an interview with Latvian State Radio this morning., informs LETA.
Keyword tags: Analytics, Budget, Financial Services, Latvia, Legislation, Markets and Companies, Metals Market, Pensioners
Pension issues in the EU member states are regulated by the so-called supplementary division of competences and are subject to different means from numerous policies. Several Commissioners are responsible for integration process concerning persons under retirement age, i.e. mostly those on pensions. At the same time, these issues are, generally, within the member states competence. Hence, most of them need both political and socio-economic solution.
Statistics Lithuania, based on the data of the 2011 Population and Housing Census of the Republic of Lithuania, reports that a wage or salary was the main source of livelihood in 2011.
Fear about managing financially during retirement is becoming more actual in the Baltic States, at the same time, the people of Estonia, Latvia, and Lithuania must save an even larger proportion of their current earnings in order to maintain their living standards, as the Baltic Household Outlook, compiled by SEB, shows.
Latvian Welfare Minister Ilze Vinkele (Unity) was supported by President Andris Berzins today on the position that indexing pensions can be resumed based solely on budget data, not political developments.
If pensions are not indexed, pensioners will stage protests in Riga in May, Latvian Pensioners' Federation Chairman Andris Silins told the LNT morning show "900 sekundes" today, informs LETA.
The matter of indexing of pensions could be reviewed after the first half of the year, when the situation in the social budget becomes clearer, Prime Minister Valdis Dombrovskis (Unity) told reporters after a meeting with the Latvian Pensioners' Federation (LPF) yesterday, informs LETA.