[PIO] The Ministry of Labour and Social Insurance announces a 3.89% increase in the basic pensions of the Social Insurance Fund and the common

The Ministry of Labour and Social Insurance announces that the basic part of Social Insurance Fund pensions will be increased by 3.89% in accordance with the provisions of the legislation and following the decision of the Council of Ministers to issue a decree to take effect from January 2024.

Specifically, the monthly amount of the full basic pension will increase from €465.65 to €483.77 and the minimum pension will increase from €395.80 to €411.20 for beneficiaries without dependents, while the monthly amount of the social pension will increase from €377.18 to €391.85.

The percentage of the increase is calculated according to the increase in average insurable earnings between the two previous years, as determined by an actuarial study.

(NZ/ASP)
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