Next year’s indexation of Polish old-age and disability pensions will cost the budget PLN 42 billion (EUR 8.77 billion), the family and social policy minister has said.
Marlena Malag said in an interview with PAP on Thursday that the pensions will be indexed on March 1, 2023.
“It is an amount and percentage indexation with a budget of PLN 42 billion,” Malag said, adding that the pensions will be indexed by about 13.8 per cent next year.
Under Polish law, the exact percentage depends on the annual average inflation in the year preceding indexation and a percentage of the increase in the average corporate wage.
The indexation will not be lower than PLN 250 (EUR 52.30), Malag vowed, saying that this was meant to support the lowest pensions.
This year, pension indexation cost the Polish budget PLN 18 billion (EUR 3.77 billion), according to the minister.