PARLIAMENT APPROVES PENSION INDEXATION TWICE A YEAR

Pensions of all Moldovan citizens, regardless of their size, will be indexed twice a year - every April 1 and October 1, as per the amendments approved in a first reading at the parliament plenary sitting on Thursday.

The current Law on state pension system implies that on October 1 only the pensions which do not exceed the subsistence wage will be indexed.

The new bill says that on April 1 the indexation factor should be equal with the inflation, registered in the last semester of the year, previous to the indexation year. Since October 1, the indexation factor should be equal with inflation, registered in the first semester of the current year. The indexation factor is established by the Government.

The mechanism of indexation will be applied to all the social payments, including the allowance for disability due to occupational injury and the monthly compensations paid to liquidators of the Chernobyl accident.

At the same time, pensions of prosecutors and judges will not be revised in accordance with prosecutor/judge monthly salary by means of unifying conditions and the way of calculating pensions for some categories of citizens (such as MPs, Government members, local elected representatives, prosecutors, public officials).