Futbols
Basketbols
Hokejs
Pensions in Latvia 2026: indexation, minimum pension and retirement age
Old-age pensions in Latvia rose by 4.24%–5.22% on 1 October 2026, depending on the length of the insurance record; the increase applies to a pension, or the part of it, up to €1,589. The minimum old-age pension in 2026 is €255.60 and the retirement age is 65, with at least 20 years of contributions. This page sets out every figure with its official source, an indexation calculator and what is still only planned for 2027.
Every figure checked against official sources on 11 November 2026.
Pension indexation in 2026
The State Social Insurance Agency (VSAA) indexed old-age, disability, service and survivor’s pensions granted or recalculated by 30 September on 1 October 2026. Pensioners do not need to do anything: the new amount is paid automatically. The increase applies to the pension, or the part of it, up to €1,589, which was the average wage on which contributions were paid in 2025. On a bigger pension only that €1,589 is indexed.
| Insurance record | Index | Share of wage growth | A €700 pension becomes |
|---|---|---|---|
| up to 29 years | 1.0424 (+4.24%) | 50% | €729.68 (+€29.68) |
| 30–39 years | 1.0456 (+4.56%) | 60% | €731.92 (+€31.92) |
| 40–44 years | 1.0489 (+4.89%) | 70% | €734.23 (+€34.23) |
| 45 years or more | 1.0522 (+5.22%) | 80% | €736.54 (+€36.54) |
The €700 example is VSAA’s own calculation (13 August 2026).
Who gets the whole pension indexed
There is no €1,589 limit for politically repressed people, people with group I disability, Chernobyl clean-up workers, and those who retired early because they raised a disabled child or five or more children. Disability, service and survivor’s pensions and insurance benefits rise by 1.0424 whatever the insurance record. An old-age pension granted for hazardous or heavy work gets at least 1.0456, even with less than 30 years’ record.
Supplement for record before 1996
From 1 October the supplement for each year of insurance record up to the end of 1995 is €1.79 (previously €1.72) if the pension was granted in 1997 or later, and €2.69 (previously €2.58) if it was granted by the end of 1996. VSAA’s example: a €610 pension with a 45-year record and a €43 supplement for 25 years become €641.84 and €44.75.
How the index is worked out
Index = actual consumer price index + a share of the real growth in the total wages on which contributions are paid (Cabinet Regulation No 398). The share depends on the insurance record: 50% up to 29 years, 60% for 30–39 years, 70% for 40–44 years and 80% for 45 years or more (Article 26 of the Law on State Pensions). Indexation takes place on 1 October every year.
For comparison, the indices on 1 October 2025 were 1.0635, 1.0686, 1.0737, 1.0787 and the indexed part was up to €1,488 (Ministry of Welfare). LM
Pension calculator
Indexation calculator (1 October 2026)
Net: 25.5% income tax on the amount above the pensioner’s non-taxable allowance of €1,000 a month, as in VSAA’s own calculator. A split allowance and other reliefs are not taken into account.
How big will my pension be: P = K / G
K / G / 12, using G for pensions granted in 2026. It leaves out the second pillar, the supplement for pre-1996 record and the minimum-pension guarantee; your capital will also be indexed and keep growing until you retire. For a precise forecast use the “old-age pension forecast” service on latvija.gov.lv.
For information only. Official calculators: VSAA indexation calculator, personal pension forecast on latvija.gov.lv.
Pensions in 2027: what is known and what is still undecided
- Indexation on 1 October 2027 will happen under the law, but the indices are not yet known: they are calculated in August 2027 from inflation and wage data. Any figure quoted now is a forecast.
- Minimum pension from 1 January 2027 — the calculation base is €236 (Ministry of Welfare). Under the formula in the law that means €283.20 with up to 20 years’ record. VSAA has not yet published its official 2027 table.
- The 2027 budget has not been adopted: a new government is still being formed and no budget bill has gone to the Saeima. On 6 November the Ministry of Finance gave the government its 2027–2030 budget baseline, in which social insurance spending grows mainly because of old-age pensions. No decision on changes to pensions has been taken. FM · New government 2026
We will update this page once the Saeima adopts the budget.
Minimum old-age pension
The minimum old-age pension is based on a calculation base set at 25% of median income: the base is multiplied by 1.2, and 2% of the base is added for each year of record beyond 20. In 2026 the base is €213, so the minimum is €255.60 and each extra year adds €4.26. If a person’s calculated pension is lower, VSAA pays the minimum.
| Record | 2025 | 2026 | 2027 (by formula) |
|---|---|---|---|
| up to 20 years | 226.80 | 255.60 | 283.20 |
| 25 years | 245.70 | 276.90 | 306.80 |
| 30 years | 264.60 | 298.20 | 330.40 |
| 35 years | 283.50 | 319.50 | 354.00 |
| 40 years | 302.40 | 340.80 | 377.60 |
| 45 years | 321.30 | 362.10 | 401.20 |
2025 and 2026 are VSAA’s tables. 2027 is our calculation using the law’s formula and the Ministry of Welfare’s €236 base; VSAA has not yet published its table. People of pension age who do not qualify for a pension receive the state social security benefit of €187 (€207 in 2027).
Retirement age in Latvia
Since 2025 the old-age pension has been paid from the age of 65, with an insurance record of at least 20 years (15 years was enough until 2024). The age rose gradually from 62 in 2013; the law sets no further increase. Under the law’s transitional rules, everyone born in April 1960 or later retires at 65 (our calculation).
| Year | Age |
|---|---|
| 2020 | 63 years 9 months |
| 2021 | 64 |
| 2022 | 64 years 3 months |
| 2023 | 64 years 6 months |
| 2024 | 64 years 9 months |
| 2025 onwards | 65 |
Early retirement
You can retire 2 years early with at least 30 years’ record. Until 65 you receive 50% of the pension, and nothing at all while you are working (insured). Parents who for at least 8 years raised 5 or more children, or a disabled child, can retire 5 years early with at least 25 years’ record. VSAA
How the old-age pension is calculated
Pension = pension capital (K) ÷ G ÷ 12. The capital is built from first-pillar contributions since 1996, which are indexed every year; an initial capital is worked out for the record before 1996. G is the expected payment period in years, based on Central Statistical Bureau life-expectancy data: the later you retire, the smaller G and the bigger the pension. Second-pillar savings can be added to the first-pillar capital or used to buy a lifetime annuity.
| Age | 63 | 64 | 65 | 66 | 67 | 70 |
|---|---|---|---|---|---|---|
| G | 19.22 | 18.49 | 17.76 | 17.09 | 16.41 | 14.39 |
Example: capital of €100,000, retiring at 65 → 100,000 ÷ 17.76 ÷ 12 = €469.22 a month. In 2025 G at 65 was 17.24. You can see your own capital on latvija.gov.lv.
Pension payment dates
The pension for the current month is paid by the 26th at the latest (Cabinet Regulation No 427). VSAA, not the pensioner, sets the exact date: by bank-processing schedule for transfers to an account, and by the Latvian Post schedule for home delivery, which costs €2.39.
Before Christmas and New Year VSAA usually moves payments forward and publishes the schedule in mid-December. In 2025 it came out on 17 December: pensions due on the 20th–22nd were paid on 18 December and those due on the 23rd–28th on 19 December. VSAA has not yet announced the December 2026 schedule; we will update this page once it does. VSAA 2025
Tax on pensions and the average pension
The pensioner’s non-taxable allowance is €1,000 a month (€12,000 a year); 25.5% income tax is deducted from anything above it, so a pension of up to €1,000 is tax-free. A pensioner who also works can split the allowance between the pension and the salary.
The average old-age pension in September 2026 was €689.09 (€627.71 a year earlier), paid to 441,534 people. That is before the October indexation (Central Statistical Bureau).
Still working? salary calculator 2026 · expat essentials