Supervisory board approves €532 million unemployment fund budget for 2019 ({{contentCtrl.commentsTotal}})

The Estonian Unemployment Insurance Fund is known in Estonian as Töötukassa.
The Estonian Unemployment Insurance Fund is known in Estonian as Töötukassa. Source: ERR

The supervisory board of the Estonian Unemployment Insurance Fund (Töötukassa) on Wednesday endorsed the fund's 2019 budget, which sets the size of the fund's income at €564.8 million and expenses at €531.5 million.

According to the budget, a total of €131 million will be paid by employees in unemployment insurance premiums, while another €70.5 million will be paid by employers. The state budget will allocate €328.6 million to the fund, while the European Social Fund together with co-financing by the state will allocate another €34.6 million, Töötukassa spokespeople said.

The unemployment fund's expenditures are budgeted to total €531.5 million, €486.9 of which will account for expenditures for unemployment insurance payouts, subsidies and labour market services, and €44.7 million of which will go toward operating costs.

Compared to the 2018 budget, next year's expenditures are set to increase first and foremost in the work capacity subsidy, social tax in specific cases as well as services for persons with reduced capacity for work.

The fund has earmarked another €22.6 million for skills development and training for both job-seekers and employed persons.

Regarding next year's plans, Töötukassa CEO Meelis Paavel said that it is important to look further ahead and also pay attention to young people set to enter the labour market.

"Next year, Töötukassa will expand its activity with regards to young people in school, whom we will advise on making informed choices when it comes to study and work," Paavel was quoted by spokespeople as saying. "We will bring together Töötukassa know-how pertaining to trends in education and the labour market to relay to young people the best possible career-related knowledge."

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Editor: Aili Vahtla

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