Regulation on way of calculating pensions to be published in Moldova's Official Journal

Chisinau, 23 March /MOLDPRES/ - The regulation on the way of pensions’ calculation and the one of confirming the length of pensionable service for settling pensions will be published in Moldova’s Official Journal (Monitorul Oficial) on 24 March.   

The new formula of pensions’ calculation will ensure the relation between the social insurances contributions and the size of the pension. Therefore, the pensions established starting from 1 April 2017 will increase by an average of 45 per cent, according to the Labour, Social Protection and Family Ministry.   

Also, about 80,000 beneficiaries will get recalculated increased pensions beginning with 1 April this year. This is the first stage and concern the pensions set in 2001-2008.     

The recalculation of the pensions will take place according to a schedule established by the National Social Insurances House. Starting from 1 April 2018, the pensions set in 2009-2011 will be recalculated, starting from 1 April 2019 – the ones established in 2012-2014, and beginning with 1 April 2020, the pensions set in the period 2015-31 March 2017 will be recalculated.  

At the same time, the regulation on the way of pensions’ calculation and way of confirming the length of pensionable service sees: the coefficients of recalculating the average monthly insured income for the period 1 January 1999 – 1 January 2017; coefficients of indexation of pensions for the period 1999- 2017; way of recalculating the average insured monthly income for the current pensions, as well as other provisions dealing with the calculation of pension and length of pensionable service.   

(Reporter A. Plitoc, editor M. Jantovan)