About 80,000 Moldovans to receive recalculated, higher pensions as of 1 April 2017

17:32 | 15.03.2017 Category: Social

Chisinau, 15 March /MOLDPRES/ - A new formula of pension’s calculation, the mechanism of valuing the income from which insurances were paid following 1 January 1999 and the valuing of the age limit pensions and the disability pensions, established till 1 April 2017, were approved under a government decision today.

According to the regulation on the way the pensions are calculated and way the length of pensionable service for setting pensions is confirmed, approved by the cabinet, the new formula of pensions’ calculation will ensure the relation between the social insurances contributions and the size of the pension. Therefore, the pensions established beginning with 1 April 2017 will increase by an average of 45 per cent, according to the Labour, Social Protection and Family Ministry.

Also, starting from 1 April this year, the valuing of the income from which insurances were paid for the currently paid pensions for about 80,000 beneficiaries will begin. This is first phase and it regards the pensions set on the period of 2001-2008.

The valuing of the pensions will be made according to a schedule established by the National Social Insurances House. As of 1 April 2018, the pensions established in 2009-2011 will be valued; starting from 1 April 2019 – the ones set in the years 2012-2014 and beginning with 1 April 2020 – the pensions set in the period 2015 – 31 March 2017.

At the same time, the regulation on the way the pensions are calculated and way the length of pensionable service for setting pensions is confirmed sees as follows: the coefficients of valuing the average monthly income from which insurances were paid for the period 1 January 1999 – 1 January 2017; coefficients of the pensions’ indexation for the period 1999-2017; the way of valuing the average monthly income from which insurances were paid for the currently paid pensions, as well as other provisions dealing with the calculation of the pensions and the length of pensionable service.

(Reporter V. Bercu, editor L. Alcaza)

Any material published on the website of the Public Institution ’’A.I.S. Moldpres’’ (Moldpres News Agency) is intellectual peoperty of the Agency, protected by the copyright. The taking over or/and use of these materials will be made only with the Agency’s agreement and with compulsory reference to source.