Government increases pensions/inflation indexation by 8.6%, coming into effect on October 1

28/09/2023 15:46

At today’s meeting of the Council of Ministers, the decision was approved for the indexation of all categories of pensions, with an increase of 8.6%.

The decision foresees the indexation of 8.6% of all categories of pensions (full pensions, partial pensions, disability pensions, in the city, in the villages, or pensions 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.

This increase covers the entire price increases for the period August 2022 – August 2023, measured by the INSTAT statistics institute.

On an ongoing basis, as a protective measure to cope with successive shocks, the Government says that it has undertaken policies aimed at “strengthening social protection, with increased spending from the budget”.

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 the future .

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

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