On Thursday, 14 July, Latvia’s Saeima passed in the second and final reading urgent amendments to the Law on State Pensions. These amendments provide for indexation of state pensions two months earlier than usual this year – in August, BNN was told by Saeima’s press-service.
«Earlier than usual indexation of pensions is proposed to provide support to pensioners in a situation of rapid growth of inflation, especially now that prices are up for food, transport and medical services,» previously said chairman of Saeima’s Social and Employment Matters Committee Andris Skride.
According to data from the Central Statistical Bureau of Latvia, when compared to the same month of 2021 the average consumer price level increased by 11.5% in March 2022.
On 1 August 2022 state pensions or their amounts that do not exceed 50% of the average national insurance contribution wage in the previous calendar year will be indexed in Latvia.
This also applies to retirement and disability pensions per insurance year starting from 31 December 1995.
On the 1 August state pensions will be indexed for politically repressed persons, first group invalids and participants of the emergency response of the Chernobyl nuclear power plant disaster.
The difference in the amount of the revised state pension or part thereof for the period between 1 August and 1 September 2022 will be paid together with September’s pension amount. The same applies to reviewed bonuses to the difference for retirement and disability pension amounts, which will be together with September’s amount.
Amendments to the aforementioned law will come to force on the next day after promulgation.