Luanda - The Economic Commission of the Council of Ministers assessed and approved Tuesday, a diploma that sets the maximum amount of the old age retirement pension at 607,874 kwanzas and the minimum at 48,272 kwanzas.
The current maximum value of the old age pension is 578,336.30 kwanzas and the minimum is 33,598.20 kwanzas.
The law approved, in the session led by the President of the Republic, João Lourenço, also establishes minimum amounts for the survival pension at 30,894 kwanzas and for disability and old age allowance, at 30,994 kwanzas.
The document also indicates that old age retirement pensions, of a value above the minimum amount and below the maximum amount provided for, survivor's pensions, disability and old age allowance are subject to an increase of around 10 percent.
The update is justified by the recovery of the purchasing power of pensioners, eroded by the increase in the general price level of goods and services.
This measure is intended to guarantee certainty and security for insured persons and pensioners, as well as to facilitate interaction between the entity managing mandatory social protection, the insured and the contributors.
The value of the retirement is calculated according to the formula P (retirement) =R (gross monthly average salary of the last 12 months for public servants and 36 for the others) X N (number of months, with effective contribution) /420.
The Economic Commission of the Council of Ministers has also approved, in the field of Prevention and Fight against Money Laundering and Terrorist Financing, a proposal of measures that aim, among other objectives, to ensure the reinforcement of good governance and transparency in commercial relations.
Fighting the growth of illicit trafficking of narcotics and psychotropic substances, transnational organised crime, preventing Angola from being a haven for criminals, as well as strengthening Angola's national security and the confidence of economic operators are part of the approved proposals.
