The old-age pensions and disability pensions of almost 95,000 recipients, set between January 1, 2014 and March 31, 2017, will be valorized as from October 1 this year, IPN reports.

Valorization is the indexation of the average monthly income insured as of January 1, 1999 that is taken into account when setting the pension. The rise in the average official salary from the year of the insured income (salary) up to the previous year of the pension setting year is taken into consideration in the valorization process.

The National House of Social Insurance said the pension is not raised by a particular percentage or fixed sum as the insured income of each pensioner is indexed separately. The higher was the salary, the larger is the amount added to the pension as a result of valorization.

This is the fourth valorization stage. The previous stages occurred on April 1, November 1, 2017 and April 1, 2018 and covered the pensions set in 2001-2013. Over 205,000 pensions were valorized at the previous stages.