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photo source: agora.md

Posted by: Mihaela Bucatari

News / Economic

15 Aug. 2019 / 14:59

Pensions will be indexed twice a year

Pensions will be indexed twice a year. A legislative initiative belonging to President Igor Dodon was approved today in first reading by the Parliament.

Under the project, the pensions will be indexed twice- on April 1 and on October 1. The indexing will be done on April 1 according to the procedure in force - for all beneficiaries, equivalent to the average of the consumer price index for the last 3 years. The second indexing will take place on October 1 and will include, in the first year of implementation - 2020, over 400 thousand pensioners, whose pension does not exceed the subsistence level.

The draft law will also involve increasing social allowances for people with disabilities and the elderly.

Amendments to the law are due to take effect on January 1, 2020.

According to statistics of the National House of Social Insurance, 700,887 pension beneficiaries are registered in Moldova, of which 75% are old-age pensioners.

The draft law is to be debated and voted in the Parliament in second reading.

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