Basic pension to increase to €275 on April 1
On April 1, Estonia's basic monthly pension will increase to €275. As a result of the indexation of pensions, monthly pensions in general are set to grow by an average of 7.9 percent, with the pension of someone with 44 years of work experience to increase to €595.35.
Katre Pall, head of Pension Services at the Social Insurance Board (SKA), said that it is important to bear in mind that everyone's pensions are unique, and thus increases in the size of pensions will vary as well, according to a SKA press release.
"Individual pensions are calculated for everyone based on their previous work contribution," Pall said. "With the indexation, the base pension amount for everyone will increase to €255. The new yearly rate is the same for everyone as well — €7.718. All other pension components based on time worked and paid social taxes are multiplied by the yearly rate. The more time someone has worked, the more their pension will increase as well."
Recalculated pensions reflecting these increases will begin to be paid out in April.
Liis Mesi, director of SKA's Customer Service Department, encourages anyone interested in reviewing the size of their pension to do so online at the state portal eesti.ee, as SKA's customer service is currently handling higher volumes of customers than usual.
"As a substantive reform of parental benefits will enter into effect on April 1 as well, people have a lot of questions about that," Mesi explained. "Our customer service is also being contacted by hundreds of Ukrainian war refugees a day as well, who are both applying for benefits as well as seeking advice."
The department director stressed that no one contacting SKA's customer service will go unserved, but those doing so should be patient.
Click here to read more about pensions on the SKA homepage.
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Editor: Aili Vahtla