Estonia, Financial Services, Legislation, Pensioners

International Internet Magazine. Baltic States news & analytics Thursday, 30.10.2014, 20:12

Estonian government plans 6% pension increase for 2014

BC, Tallinn, 05.09.2013.Print version
Estonian social minister Taavi Rõivas said on Thursday that the faster than expected wage increase and fall of unemployment enables the state to increase pensions next year by an average of 5.8%, LETA/Postimees Online reports.

"We have managed to preserve in Estonia the kind of economic climate that enables to increase pensions next year more than in the five preceding years," said Rõivas, adding that this means an extra 20 euros a month or 240 euros a year for pensioners.

 

The 5.8% increase is one of the fastest pension increases in the European Union next year, maybe even the fastest, Rõivas said.

 

Pensions are indexed according to inflation and social tax increase on April 1 every year.






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