Already in March, the State Social Insurance Agency (SSIA) will start paying supplements to old-age and disability pensions to those residents who were granted an old-age or disability pension in the period from 1 January 2012 to 31 December 2014. The supplement to old-age and invalidity pensions will be paid to Latvian pension recipients residing in Latvia, the Member States of the European Economic area, Switzerland, the United Kingdom and Guernsey.
A supplement for January, February and March will be paid along with the pension in March. In April, however, the supplement will be paid in the amount it will be monthly in the future.
The amount of the supplement shall be 1.52 euros for each year of period of insurance accrued until 31 December 1995 for which an old-age or invalidity pension has been granted in Latvia. This amount will be reviewed annually at the same time as the pension indexation.
The SSIA will withhold personal income tax in the amount of 20% of the amount exceeding the non-taxable minimum for pension beneficiaries who, after granting the supplement, the total monthly amount of the pension and supplement exceeds the non-taxable minimum of EUR 500.