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Latvian Saeima committee approves amendments on pension indexation from 2017
BC, Riga, 10.03.2016.
Print version
Print versionLatvian Saeima Social and Employment Matters Committee today approved amendments to the Law on State Pensions to be reviewed by Saeima in the final reading, which stipulate higher indexing of pensions from 2017, informs LETA.
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The amendments state that, starting next year, pensions will be indexed according to 50% of the amount by which the average wage, from which social contributions are paid in Latvia, has increased. Currently the proportion is 25%.
Therefore, an additional EUR 3.4 million will be necessary for indexing pensions in 2017, EUR 17.6 million in 2018 and EUR 33.9 million in 2019.
Thus pensions will be increased by the index of 1.0408 in 2017 and 1.0413 in the next two years, Saeima Press Service told LETA.
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