Analytics, Budget, Financial Services, Latvia, Legislation, Pensioners

Photo: president.lv

Vinkele informed Berzins that pensions could be indexed this year only if the deficit in the social budget is reduced sufficiently, as Vinkele told LETA after the meeting. "We will have the figures in the latter part of the year, and if the deficit keeps shrinking as fast as in 2012, then we might be able to talk about indexing pensions this year."

"The president fully backed my position that pensions must be indexed based on budget figures, not because of local government elections this year," said Vinkele.

Vinkele and Berzins also talked about the development of a support system for foster families and other welfare matters.

As reported, this morning approximately 100 people took part in a procession to Saeima organized by the Latvian Pensioners' Federation today to submit more than 106,000 signatures demanding that pension indexing be resumed in October.

At the moment, pension indexing remains frozen until January 1, 2014. Pension indexing is to resume next year and all pensions will be reviewed once a year – on October 1 – taking into account the index of consumer prices.