SKA to change monthly pension payout date starting next year
In Estonia, pensions are paid out once a month, usually on the 5th. Until now, on months when the 5th fell on a weekend, the Social Insurance Board (SKA) would pay out pensions on the preceding Friday. Starting next year, however, this system will change somewhat.
"Starting in January 2025, the procedure for pension payouts will change," SKA announced in a press release. "All pensions will be paid out as usual on the 5th of the month, however should that day fall on a weekend, [money] transfers will be made within two working days following the weekend."
In 2025, the 5th of the month falls on a weekend in January, April, July and October.
As of January 1, 2024, there were more than 325,000 pensioners in Estonia. Of these, the majority, or 310,202 people, are old-age pensioners. Over the past year, more than 5,100 new pensioners have been registered in Estonia.
SKA likewise noted that this month's pensions will still be paid out on Friday, October 4, however they will hit accounts over the course of the day.
Pensioners in Estonia are accustomed to their pensions reaching their bank accounts first thing in the morning. This time, while most payouts will still reach recipients in the morning, others will hit their recipients' accounts later in the day, the agency said.
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Editor: Mait Ots, Sergei Mihhailov, Aili Vahtla