In our country, the number of pensioners is increasing and the number of young people and workers is decreasing – currently, according to data from the Bank of Latvia, there are three workers for every two pensioners. Minister of Welfare Reinis Uzulnieks (Union of Greens and Farmers) in the interview “nra.lv TV conversations” confirmed the forecast that in the near future there could be one worker for every three pensioners.
R. Uzulnieks said that he regularly meets with Edgars Volski, Doctor of Economic Sciences, and Inga Allikas, the State Secretary of his Ministry, who are the founders of the Latvian pension system, and already when this pension system was created, he predicted that the demographic situation would be as it is now.
R. Uzulnieks admitted that he thought the demographic situation would be more optimistic and, without changing anything in the pension system, it would work well until 2050.
“The problem could arise after that, if the number of people, the number of people paying, is critical, and then improvements need to be made. But I also know that experts regularly monitor and think how to improve both the first and the second level of the pension system,” said R. Uzulnieks.
