Latvia announces pension indexation for October 1

Latvia will implement pension indexation on October 1, affecting approximately 97% of pensioners. Welfare Minister Reinis Uzulnieks announced that the increase for pensions not exceeding 1,589 euros will range from 4.24% to 5.22%, depending on the recipient's insurance length.

Specific increases based on employment history are as follows: - Up to 29 years of service: 4.24% - 30 to 39 years: 4.56% - 40 to 44 years: 4.89% - 45 years or more: 5.22%

Certain groups, including politically repressed individuals, persons with first-group disabilities, Chernobyl accident liquidators, and those receiving early retirement due to childcare or disability, will receive full indexation. Other state pensions, such as survivor and disability pensions, will receive a 4.24% increase. The index is calculated based on the actual consumer price index (inflation) over a 12-month period and positive real growth in insurance contribution salaries.