Pensions to be reexamined according to new formula in Moldova as of 2023

Chisinau, 28 December /MOLDPRES/ - A new formula of reexamination of the old age pension for the length of service made after the pension’s establishment will be enforced as of 1 January 2023. Today, the cabinet of ministers has approved, under government decision, the amendment of the regulation on the way of pensions’ calculation and of confirmation of the length of service for establishing pensions, the government’s communication and protocol department has reported.    

The new formula implies the adding of the calculated pension’s quantum to the value of the pension following the length of service made after the old age pension’s establishment, which will ensure the guaranteed increase of the pension’s quantum after reexamination.  

At the same time, under the draft, starting from 1 January 2023, the National Social Insurances House will reexamine the old age pensions and the disability pensions established or reexamined on the period 1January 2017 – 31 December 2021, at the calculation of which the period of taking care of a child with severe disability under the age of 18 years or of a person with severe disability was included in the length of service. For the concerned period, the average monthly salary on Moldova and not the minimum monthly salary, as earlier, will be used as the pension’s calculation basis.   

Photo: Guvernment