Latvia's special budget expenditures on old-age pensions for the first ten months of this year reached 2.7 billion euros, which is 236.7 million euros, or 9.5%, more compared to the same period last year, bb.lv was informed by the State Treasury.
The average pension paid to retirees in October of this year was 11.9% higher than a year earlier, amounting to 658 euros. The number of old-age pension recipients in October of this year exceeded 426,000 and slightly increased compared to October of last year.
Starting from October 1, 2025, all assigned pensions (old-age, disability, service, survivor's pensions) will be indexed if they do not exceed 1,488 euros, whereas in 2024, pensions not exceeding 683 euros were revised.
Different indexing coefficients were applied for pensioners with varying insurance records — for example, for those with 40 to 44 years of service, the index was 1.0737. This means pensions increased by 7.37%.
