Analytics, Financial Services, Latvia, Legislation, Pensioners, Society

International Internet Magazine. Baltic States news & analytics Thursday, 18.04.2024, 02:34

Pegging pension capital index to national economy fluctuations doesn’t constitute violation of human rights in Latvia

BC, Riga, 22.04.2016.Print version
Pegging pension capital index to fluctuations in the national economy does not constitute a violation of human rights, the Constitutional Court in Latvia has concluded in reviewing a case on updating pension capital, following Harmony and For Latvia From The Heart parties' protest against applying negative coefficient to part of pensions, informs LETA.

The Constitutional Court analyzed whether Article 1, Section 12 of the Law on State Pensions, which stipulates that pension capital may be updated by applying an index lower than 1, violated the Constitution's articles 91, 105 and 109.

 

The case was opened last year, but on January 1 this year, a new amendment came into force, according to which an index of 1 would be applied for updating pension capital if the insurance contribution wage index was lower than 1.

 

The disputed provision in the Law on State Pensions does not violate the Constitution, as the Constitution does not envisage any particular amount of pension or benefit that is payable by the state.

 

In the Constitutional Court's opinion, the Law on State Pensions stipulates the same rules on updating pension capital for all persons, regardless of when they have retired.

 

The Constitutional Court's ruling cannot be appealed.





← Back↑ Up

Русский
Search site