The government approves the indexation of pensions at the rate of 8.6%, here are the categories that benefit

The Council of Ministers approved the indexation of pensions at the rate of 8.6% during the meeting on Thursday, September 28.

This decision is understood to provide for the indexation of pensions of all categories, including those of old age, disability and others.

According to what is written in the decision, the beneficiaries of this increase will be more than 767 thousand citizens throughout the country.

Notice on the approval of pension indexation:

The indexation of pensions at the rate of 8.6% is approved

At today's meeting of the Council of Ministers, the decision to index all categories of pensions to the extent of 8.6% was approved.

The decision foresees the indexation of 8.6% of all categories of pensions, (old age pensions, full pensions, partial pensions, reduced pensions, disability pensions, pensions in the city, in the countryside, pensions given for special state aid , etc.).

Thus, all categories of pensions will be paid with an increase of 8.6% and the beneficiaries will be over 767 thousand citizens across the country.

The implementation of this decision starts on October 1 and only for the period October - December 2023, the financial effect on the state budget is calculated at about 3.1 billion ALL, while for 2024 it will be 12.1 billion ALL.

This increase covers the entire price change for the period August 2022 - August 2023, measured by INSTAT in a dedicated way for the category of pensioners (the Consumer Price Index for pensioners is different from the population index, as it takes into account the changes of prices of goods and services consumed by pensioners).

Continuously, as a protective measure to cope with successive shocks, the Government has undertaken policies aimed at strengthening social protection, so the expenses from the state budget have been increasing.

During the past year, two indexations were carried out, in total at the rate of 9.5%, with a financial effect of ALL 5.4 billion.

Year after year these expenses increase further, due to the residual effect for the following year, as this is an acquired and guaranteed right for every citizen who is treated by the scheme, as well as for those who will be included in it in the future .

In addition to these increases, the Government has also given bonuses, such as the one at the end of the year which is already included in the Budget Law of each year and which will be granted this year as well.

The Institute of Social Insurance will guarantee through the cooperation with Albanian Post sh.a. and commercial banks the full implementation of this decision for all beneficiary individuals.