Baltic States – CIS, Estonia, Financial Services, Insurance, Legislation, Pensioners, Russia

Minister Pevkur commented that the signed pensions agreement is very important for Russian citizens residing in Estonia as well as for Estonian citizens residing in Russia. “The most important change is that pensions are determined and paid by both countries regardless of on which territory the person involved resides,” he explained. “The signed agreement also regulates the continuation of payment of pensions allocated on the basis of this document in cases where a pensioner settles from one country to another and other details so that the pension rights of people in both countries would be well protected,” added Pevkur.

The minister emphasised that those people whose pensions have already been decided on will not have to take any additional action.

The agreement will enter into force on the 30th day after the exchanging of ratification letters. Estonia will start the ratification process immediately after the signing of the agreement.