Politicians Weigh Flexible Pension Idea ({{commentsTotal}})

Queuing at an ATM on a pension day
Queuing at an ATM on a pension day Source: Photo: Postimees/Scanpix

After President Toomas Hendrik Ilves highlighted the problem of an aging population in his Independence Day speech to the nation, an idea of flexible pensions has been floated.

Social Democrat MP Eiki Nestor said many countries are crossing over to a pension system where there is no fixed age of retirement, with the date connected with capability and desire to work.

Nestor said that people could decide their retirement age, with those working more years receiving a higher pension.

Sven Sester, an IRL MP, said the approach is good, but there already exists a number of initiatives to motivate people to work beyond the current retirement age.

The debate was sparked by the President Ilves after he said that long-term plans and strategies have taken a back seat in political debates, as there are elections nearly every year and short-term problems receive more publicity.

The next year without an election is 2018. There will be voting for European Parliament (2014), Parliament (2015), presidential (2016) or local (2017) elections in the intervening time.