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Since 2020, pensions in Moldova will be indexed twice a year - on April 1 and on October 1.

Since 2020, pensions in Moldova will be indexed twice a year - on April 1 and on October 1.

This is provided for by an appropriate legislative draft put forward on the initiative of the President of the Republic of Moldova Igor Dodon, which the parliament adopted on Thursday in the first reading. The bill provides for the introduction of a new concept for indexing pensions, which is planned to be implemented twice a year - on April 1 and October 1. In both cases, the indexation index of pensions will be equal to the average annual inflation for the last 3 years. However, if indexation of pensions on April 1 affects all pensioners, then indexation in the fall will be carried out for 3 years, starting from October 1, 2020 for persons whose pensions do not reach the subsistence level. Thus, from October 1, 2020, pensions will be indexed, which in the first half of 2020 will be below the subsistence level; from October 1, 2021 - pensions, which in the first half of 2021 will be lower than the double cost of living; from October 1, 2022 - pensions, which in the first half of 2022 will be below the triple size of the subsistence level. It is expected that the indexation of pensions on October 1, 2020, in the first year of the implementation of this project, will affect more than 400 thousand pensioners whose pension does not exceed the subsistence level. The draft law also provides for an increase in social benefits for people with disabilities and the elderly. According to the National Social Insurance Fund, in Moldova there are 700,887 beneficiaries of pensions, whose average pension is 1895.07 lei. At the same time, 527.7 thousand people receive an old-age pension on average 1834.2 lei, about 123.4 thousand people receive disability pensions in the amount of 1431.3 lei and 11.1 thousand people receive pensions for the loss of a breadwinner in the amount of 977.4 lei. About 75% of beneficiaries in Moldova receive old-age pensions. From April 1, 2019, the minimum age pension is 1079.33 lei, while the cost of living for pensioners is 1574.2 lei. About 400 thousand people receive a pension below the subsistence level for pensioners. To increase the degree of social protection of people with small pensions, to increase their pensions to the level of a living wage, it was proposed to introduce autumn indexation of pensions. This measure will ensure the principle of equality and social justice. According to the presidential administration’s calculations, starting from October 1, 2020, it is necessary to plan about 90 million lei in the budget for next year’s budget for indexing pensions and benefits. The bill adopted by the parliament should still be approved in the second reading.// 15.08.2019 — InfoMarket.

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