Estonian average pension to exceed 500 euros after indexation
The average Estonian pension will after the spring 2020 indexation surpass 500, the country’s Finance Ministry has stated.
Estonian public broadcaster ERR reports that on Monday, September 9, the Estonian government’s summer economic forecast presentation has been held.
Pensions increase annually in April as a result of indexing, with the change coming into effect on the first day of the month.
In the second quarter of 2019 the average Estonian old-age pension was nearly EUR 485. In 2020, a person receiving an average old-age pension will receive about EUR 39 more, or some EUR 524 a month. Importantly, the ERR explained that if the consumer price index does not rise and the share of social tax falls, there is no indexation because pensions cannot be cut.
Read more @BNN News
