Latvian parliament considers restoring pension supplements

It is planned to restore old age and disability pension supplements for the people who retired after 2012, as provided by the amendments to the Law on State Pensions passed by the Saeima Budget and Finance Committee on Wednesday, the 29th of November.
The legislative draft is linked to the 2024 state budget. Amendments in it provide for a supplement to pensions with insurance years until 31st of December 1995 for residents who started receiving old age and disability pension in 2012, as reported by Saeima press-service.

Payment of pension supplements is planned to commence next year. The first to receive them are recipients of old age and disability pensions,

who retired in 2012, 2013 and 2014. Supplements will be provided starting with the 1st of January and will be paid together with the April pension amount.
The supplement to the old-age and disability pensions granted between 2012 and 2028 is planned to be gradually renewed until 2029. Starting from 2029, absolutely all pensioners will receive a pension supplement for the insurance period accumulated until the 31st of December, 1995.

The supplement amount will be EUR 1.52 per one year of insurance.

This corresponds to the amount of the supplement received by persons who received the old-age or disability pension with the supplement provided in 2011. The amounts are reviewed annually on the basis of the actual consumer price index and 50% of the actual increase in the amount of insurance contribution in wages.
The State Social Insurance Agency reports that in August 2023 pension supplements were paid to 252 000 old age pension recipients and 21 000 disability pension recipients. The average supplement amount for old age pensions is EUR 50.66 and for disability pensions – EUR 14.10.
The final reading of the legislative draft in the Saeima is planned for the 7th of December.
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