The parliament turned down all the proposals from the opposition to reduce the proportion of social payments into second-tier state pension plan less than 6%, as well as a proposal from Saeima Legal Affairs Bureau, which said that the new system should come into force along with the amendments to the 2009 state budget, informs LETA.

The amendments state that the proportion of social payments into the second-tier state pension plan will be 2% until the end of 2010, it will be increased to 4% on January 1, 2011, and to 6% in 2012.

As reported, the International Monetary Fund previously requested the Latvian government to reconsider its intention to reduce the proportion of social payments into the second-pillar state pension plan.

Before that, Finance Minister Einars Repse (New Era) said that the Pension Law must be amended and the amendments must take effect on May 1, as therefore they would bring in an extra LVL 26 million in the state budget by July 1 when the amendments to the budget will commence, and an additional LVL 106.5 million altogether this year.