Moldovans' pensions which does not exceed subsistence minimum to be additionally indexed

Chisinau, 27 November /MOLDPRES/ - The people’s pensions which do not exceed the subsistence minimum for pensioners will be additionally indexed as of 1 October, under a draft law on the amendment of legislative acts, put forward by President Igor Dodon as legislative initiative. The government approved the draft today. The coefficient of indexation will be the average of the annual increase of the consumer prices indexes for the last three years.

The additional indexation, starting from 1 October, of the pensions which do not exceed the subsistence minimum for pensioners in the first half of this year will contribute to the updating of the size of these pensions and their balancing with the quantum of the pensions higher than the subsistence minimum for pensioners, the note reads. Moreover, the increase in the quantum of the minimum pension will generate the increase in the quantum of the state social allocations, which are calculated in per cent from the minimum pension.

According to the National Statistics Bureau, for the pensioners, the subsistence minimum in 2018 stood at 1,574.2 lei, which represents 83.2 per cent of the average value for all residents. The quantum of the minimum age limit pension amounted to 1,025 lei and covers the value of the subsistence minimum for the pensioners at a level of 65.1 per cent.