Retirement benefits to be raised by €3-15

Retirement benefits in Latvia will be raised on October 1 as each year, applying an index of 1.0439 on pensions or parts of pensions that are not over €349, the State Social Insurance Agency (VSAA) said.

This means pensions and parts of retirement benefits at €349 or lower will be raised by 4.39%.

A monthly pension of €200 will increase by €8.78, and a pension of €300 will grow by €13.17. The minimum pension in Latvia that is €70.43 will grow by €3.09.

At the same time, VSAA noted that personal income tax will be applied on the indexed pension, which means that the sum paid to pensioners will be smaller. 

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