Financial Services, Latvia, Pensioners

International Internet Magazine. Baltic States news & analytics Wednesday, 23.09.2020, 19:56

Pensions of up to EUR 454 to be increased in October

BC, Riga, 12.08.2020.Print version
On October 1 this year, all pensions of up to EUR 454 a month will be increased, the Welfare Ministry informed LETA.

Pensioners whose pensions exceed EUR 454 a month will have part of their pensions, EUR 454, increased. This restriction will not apply to pensions of the politically persecuted persons, persons with disabilities, and pensions of those who participated in liquidation of the Chernobyl disaster.

Last year, all pensions of up to EUR 420 were increased.

This year, pensions will be increased by a coefficient of 1.0380 and higher, depending on the pensioner's length of insurance period. The longer the period, the higher coefficient is applied to calculate the pension increase.

Supplements to old-age and disability pensions will also be increased.

Pensioners do not have to do anything - pensions will be increased automatically by the State Social Insurance Agency.

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