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EUR 285 portion of all pensions to be indexed in 2014 in Latvia
BC, Riga, 04.04.2014.
Print version
Print versionLatvian Saeima approved amendments to the Law on State Pensions in the final reading today, which stipulate that equal part of all pensions – EUR 285 – will be indexed on October 1, 2014, informs LETA.
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That indexing will be done according to the actual price growth index and 25% of increase in wages subject to insurance contribution.
The amendments also stipulate that in 2015 and subsequent years, indexed will be all pensions or pensions in such amount that does not exceed 50% of the average wage subject to insurance contribution in the prior year, taking into consideration said indexes.
Pensions will not be revised if the actual consumer price change index and index of wages subject to insurance contribution is less than one. Also, if the increase in wages subject to insurance contribution is higher than 15%, indexing will be based on 15% of the increase in the amount of wages subject to insurance contribution.
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