Pensions will be indexed earlier this year in Latvia

On Thursday, July 14, the Saeima adopted the urgent amendments to the Law on State Pensions in the second - final reading, scheduling the state pensions to be indexed two months earlier than usual.

Pensions will be indexed on August 1 instead of September 1.

Andris Skride, Chairman of the Social and Labor Affairs Commission responsible for the passage of the bill, previously said that earlier pension indexation is being encouraged to provide support to pension beneficiaries in the event of a rapid rise in inflation, particularly as prices for food, transport and health services rise.

Data from the Central Statistical Bureau showed that in March of this year, compared to March 2021, the average consumer price level increased by 11.5 percent, according to the draft statement.

The amendments to the Law on State Pensions will enter into force on the day following the announcement.

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