Give pension savings at least for treatment! Deputies have come up with an initiative 0 13

Until now, only the opposition has spoken about the need to follow in the footsteps of Estonia and Lithuania and allow Latvians to partially choose their savings in the second pension level, but today one of the ruling parties - the Union of Greens and Farmers - has joined them. The parliamentary faction of the Union of Greens and Farmers (UGF) has decided to submit an initiative to the coalition council regarding the payment of capital accumulated in the second pension level to the population for covering medical expenses.

Currently, the capital of the funded pension can only be used upon retirement or in the event of the participant's death in the second level system.

UGF deputies believe that at a time when the healthcare system is not in order and there are significant shortcomings, people cannot timely receive necessary medical assistance or purchase prescribed medications, and there is a need for a discussion on the use of accumulated capital in the second pension level for medically justified treatment.

"UGF deputies also emphasize that the second pension level is a private accumulation for each participant in the state-funded pension scheme, so it is necessary to allow people whose financial situation is limited to access funds for necessary medical expenses from the second pension level," the UGF press release states.

Evaluating the initiative prepared by UGF deputies, Minister of Economics Viktor Valainis noted that more flexible use of second-level pensions for healthcare could also contribute to the economy: "Improved population health will directly contribute to the development of human capital and labor productivity."