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International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 11:07

Estonian pension age should grow to 70 years

BC, Tallinn, 04.11.2014.Print version
Statistics Estonia said when presenting its fresh pension system forecast on Monday that the increase in retirement age agreed upon now is too slow, and in 25 years time, the retirement age should be 70 years already, due to the aging population and emigration, LETA/Public Broadcasting reports.

The Estonian parliament decided a little more than four years ago that by 2026, the retirement age needs to rise to 65 years.

 

Statistics Estonia fresh forecast, however, argues that it is not enough. The agency states that retirement age should be raised to 65 already by 2020. By 2030, the retirement age should be raised to the age of 68 and by 2040, to 70.



Source: stat.ee


"Given the population forecast, which tells us that in all probability, in 25 years time, there is 10 percent less of us and the population has moved towards aging, it is clear that if we want to keep our social system going, the retirement age should most likely increase," commented by Statistics Estonia Leading Statistician Yngve Rosenblad.

 

Currently, the Estonians stop working an average of 59 years of age. Statistics Estonia underlines, however, that the situation is not as sad as it seems – the people's health improves, and they can work longer.






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