2024-04-08 19:44:58
Appealing to the data security law, VSAA does not disclose detailed information about who is the recipient of the largest pension in the country. However, the institution states that the significant amount of pension was reached as a result of recalculations related to solidarity tax contributions for old-age pension.
On the other hand, the next four largest pensions are between 8,000 and 10,000 euros.
VSAA explains that if the right to a Latvian pension arises, taking into account only Latvian insurance periods, the pension is calculated in accordance with national legal norms.
VSAA data shows that the minimum amount of old-age pension as of January 1 of this year for 10 to 15 years of insurance is 188.10 euros, and for persons with disabilities since childhood – 226.60 euros. Meanwhile, for example, with 41 years of insurance experience – 277.02 euros, and for persons with disabilities since childhood – 333.72 euros.
For pensions that began to be paid from January 1, 2023, the minimum amount determined may be reduced by the amount of the life policy.
If the Latvian insurance period is not sufficient for the right to receive a Latvian pension, then the insurance periods of other EU/EEA member states or contracting states are also taken into account when determining the right, but only the pension capital accumulated in Latvia is taken into account when calculating pensions. The amount of Latvian pension granted to such persons may be less than the minimum amount of pension established in the country, but in addition to the pension granted in Latvia, these persons can also receive a pension from another country, VSAA explains.
On the other hand, if a person is entitled to a pension, but does not have all the necessary information to determine the amount of the pension, the pension applicant is paid an advance payment, which does not exceed the monthly amount of the expected pension.
Regarding the contribution ceiling, VSAA states that the maximum amount of the state social insurance mandatory contributions and voluntary contributions last year and this year is 78,100 euros.
From January 1, 2019, the maximum amount of the object of mandatory contributions of the state social insurance and voluntary insurance contributions is calculated and determined for three years, taking into account the maximum amount of the object of contributions of the previous period, for the next three calendar years, the average of the average monthly gross wages of the employees in the national economy forecasted by the Ministry of Finance increase or decrease and the average increase or decrease of the average monthly gross wages of the actual national economy employees of the previous calculation period, VSAA explains.
2024-04-08 19:44:58