Amendments To The State Funded Pension Law

Original Language Title: Grozījumi Valsts fondēto pensiju likumā

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/223549

The Saeima has adopted and the President promulgated the following laws: law on State funded pensions in State funded pension Act (the Saeima of the Republic of Latvia and the Cabinet of Ministers rapporteur, 2000, nr. 7; 2002, nr. 24; 2004, nr. 2, 9.; 2005, 12. No; 2006, 21 no, 12; 2007; 2008, nr. 21. no; 2009, 1., 10., 14. no) the following amendments: 1. Replace article 4, first paragraph, the words "part of contributions" with the words "part of the actual instalments".
2. transitional provisions: to replace in paragraph 2, the numbers and the words "2012" on 1 January, with numbers and the words "1 January 2013";
make paragraph 3 subparagraph 5 by the following: "5) by January 1, 2011 no less than 2 percent of the contributions laid down by law.";
Add to transitional provisions with paragraph 15 as follows: "Cabinet of Ministers 15. within six months from the date when the social insurance special budget revenue exceeds expenditure, assessed the social insurance contribution rate reduction the State funded pension scheme in 2011 and 2012 and its impact on occupational pension schemes, the Member's age retirement shall be submitted to the capital and the parliamentary report. The report also includes an assessment of the possibility to compensate the social insurance contribution rate reduction the State funded pension scheme. "
The law shall enter into force on January 1, 2011.
The Parliament adopted the law on 20 December 2010.
President Valdis Zatlers in Riga of 2010 December 30.