Finances

FINAL STAGE OF PENSION VALORIZATION COMPLETED IN MOLDOVA

01 octomber, 2018

This Monday has marked the completion of the final, 4th stage of the valorization of pensions in Moldova.

The procedure covered 94.8 thousand citizens of Moldova who went on pension between January 1, 2014 and March 31, 2017. The extra expenditures for repaying pensions to this category of citizens will constitute approximately 30 million lei a month.

Valorization is the indexation of the average monthly ensured income (salary/wage) from January 1, 1999 multiplied by the coefficient of the growth of the average pay size in the national economy, starting from the year of receiving the salary/wage payments and until the year preceding the pension appointment.

Svetlana Vechvert, Director of the Department for Control and Applying the Application in the Social Rights Sphere of the National Social Insurance Fund, explained that valorization is not a raising of pensions by a certain percent or by a certain fixed sum to all pensioners, but is an indexation of the insured income to each individual pensioner. In her words, the valorization result depends on the pay size, from which the State-run compulsory social insurance payments were made. The higher was the person's pay size, the higher will be the valorization extra to the person's pension.

Before, three stages of valorization were carried out. At the first stage completed on April 1, 2017, pensions were recalculated for 83.6 thousand people who had retired in 2001-2008. At the second stage (November 1, 2017) - for 67.6 thousand pensioners who retired in 2009-2011. And at the 3rd stage (April 1, 2018) valorization applied to 54.2 thousand people who became pensioners in 2012-2013. All in all, the valorization applied to 300.2 thousand pensioners. Meanwhile, according to the National Social Insurance Fund data, as on this past July 1 there were 714.7 thousand pensioners in Moldova, and the average monthly pension size was standing at 1,658 lei, or at nearly US$100 equivalent.

Add Comment

Add Comment

  • name
  • email
  • message
Thanks!
Your comment will be published after administrator approval.