Latvian State Audit: it is necessary to sort out retirement pension system

Latvia should finally sort its sensitive retirement pension system, said State Auditor Elita Krūmiņa in an interview to Rīta Panorāma programme of LTV.

She says that the State Audit performs inspections in ministries and central institutions every year. Unfortunately, problematic matters continue surfacing time and time again. One such problem mentioned by Krūmiņa was the retirement pension – this matter has been stuck in legislative limbo for more than ten years.

The State Auditor notes that the age threshold for retirement pension has remained the same for a very long time, unlike the regular age pension. Retirement pension is also significantly larger, which is unfair.

Krūmiņa also says that more than 70% of retirement pension recipients continue working, thereby circumventing the law that prohibits employed people from receiving retirement pension.

According to her, the pension system requires a serious re-assessment, not proposals for adding new professions to the retirement pension system.

The state auditor adds that she plans to ask the prime minister and the Saeima to pay more attention to this problem. She agreed that no one is likely to tackle this matter prior to elections. «This matter has been sensitive since 2005. Perhaps decision-makers might address this matter at some point after elections,» she said.

On Wednesday, 23 May, the State Audit will report on financial audits in ministries and central institutions for 2017. The press-conference is scheduled for 09:30 in the State Audit’s building on Skanstes Street 40, Riga.

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