The Ministry of Welfare has presented a phased plan for the introduction of a basic pension, which is expected to be one of the largest reforms of the Latvian pension system in recent years. According to the agency's proposal, starting from January 1, 2027, the supplements for insurance periods accumulated before December 31, 1995, will be increased, and supplements for periods after January 1, 1996, will also be introduced. The first stage of the reform will affect residents of Latvia aged 85 and older. According to the ministry, there are currently 56,760 people in this age group living in the country. They receive the lowest pensions: the average old-age pension is 503.71 euros per month, while the average pension in the country reaches 640.67 euros. The launch of the reform in 2027 will require 13.4 million euros from the main state budget. Minister of Welfare Reinis Uzuliņš stated that further postponement of the reform is unacceptable. According to him, the ministry has already prepared a model for the new system, calculated its cost, and developed the necessary legislative changes. The ministry reminds that the issue of introducing a basic pension has been discussed for many years. Now, in the agency's opinion, the government has all the necessary prerequisites to make a decision. According to the Ministry of Welfare, despite the stability of the pension system, the level of pensions in Latvia remains relatively low by European standards. The pension replacement rate is about 45%, and the need to increase the income of the elderly has previously been noted by both the European Commission and the Organisation for Economic Co-operation and Development. The reform project has already gone through the public discussion stage. Now the government needs to make a decision on its further advancement.