Latvian government to increase pension payments

The Latvian government has announced that all pensions worth up to €454 a month will be increased on 1 October, according to a report by the Latvian Information Agency (LETA).

The Welfare Ministry also told LETA that for those pensioners whose pensions exceed €454 they will have part of their pension up to the value of €454 increased.

However, LETA reported that this restriction will not apply to pensions of those politically persecuted, people with disabilities, and pensions of those who participated in liquidation of the Chernobyl disaster.

Last year, all pensions of up to €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 for old-age and disability pensions will also be increased.

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