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Pensions to be raised by EUR 3-15 in October

RIGA – Pensions in Latvia will be indexed on October 1, applying index of 1.0439 on pensions or parts of pensions that are not over EUR 349, the State Social Insurance Agency (VSAA) reported.

Indexation means that pensions or parts of pensions that are not over EUR 349 will be raised by 4.39 percent, and respectively a monthly pension of EUR 200 will increase by EUR 8.78, and a pension of EUR 300 will grow by EUR 13.17. The minimum pension in Latvia that is EUR 70.43 will grow by EUR 3.09.

At the same time, VSAA noted that personal income tax will be applied on the indexed pension, which means that the sum paid to pensioners will be smaller.

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