Pension increase, additional 2.8% from July 1

Pension increase, additional 2.8% from July 1

Starting from July 1st, pensioners will benefit from an inflation adjustment to the retirement pension at a rate of 2.8%.

This means that, for a person who receives an average pension, his account will receive an additional amount of approximately 364 lekë.

The minimum indexed pension increases to 13,378 lekë per month and the maximum will reach 26,756 lekë, with village pensions rising to 91,601 lekë.

Director of the Social Insurance Institute, Astrit Hado, says the number of beneficiaries for the pension sits at 665,000.

The available funding is 1.55 billion lekë for the year ending in December; however this amount is expected to double for the coming year.

The measures to adjust the pension to accommodate for inflation was approved by the Council of Ministers, with calculations taking into account the cost of basic necessities as required by a pensioner.

EMISIONET