Pensions will go up 8.6% as of October 1

21 Shtator 2023, 08:28Economy TEMA

Pensions will go up 8.6% as of October 1

The government's decision to increase pensions by 8.6% to maintain their value against increases in the cost of living has been approved by the Administrative Council of the Social Security Institute.

During the meeting chaired by the new finance minister, Ervin Mete, the council decided that the decision will come into effect on 1 October and the number of pensioners who will benefit from the new increase will be 767 thousand.

The financial effects of the indexation of pensions for the three remaining months of the year is around 3.2 billion leks, while the financial effect for 2024 will be 12.1 billion leks.

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