New concept of pension indexation to be implemented in Moldova

14:12 | 15.08.2019 Category: Political

Chisinau, 15 August /MOLDPRES/- Pensions will be indexed twice a year. A legislative initiative belonging to President Igor Dodon was approved today in first reading by the parliament.

According to the project, 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 the Republic of Moldova, of which 75% are old-age pensioners.

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