Posts tagged as pensions

Old-age pensions to rise 1.6 percent through indexation in Estonia

Friday, March 19, 2021

The Estonian government is to approve at a sitting on Thursday this year’s value for the index of the national pension at 1.016, with pensions set to rise on average 1.6 percent as a result. Pensions will grow by an average of 1.6 percent from April 1 following indexation, spokespeople for the government said. The value of the index is calculated yearly to the extent of 80 percent based on…

Latvia: Contributions to private pension funds grow 11.3% y-o-y in 2019

Friday, March 27, 2020

A total of EUR 85.68 mln were paid into Latvia’s private pension funds in 2019, which is a 11.3% increase against 2018, according to the data of the Financial and Capital Market Commission writes LETA. Contributions made by individual participants of the pension plans last year grew by 10.9% y-o-y to EUR 69.7 mln, while contributions made by employers rose 2% to EUR 11.774 mln. Other contributions reached EUR 4.206…

Bank of Estonia chief: Pension reform long-term bad idea

Thursday, January 30, 2020

Bank of Estonia chief Madis Müller said Wednesday evening that the pension reform bill which passed the Riigikogu Wednesday was a bad idea for the long-term perspective, adding that the coalition will need to demonstrate strong faith in its reform if it wants to effectively carry it out. Speaking on ETV politics discussion show “Esimene stuudio” Wednesday night, Müller said that in its analysis of the proposed reforms – the…

Estonia: Volume of pension funds grows to EUR 4.2 bln

Friday, April 26, 2019

The volume of assets of mandatory pension funds rose by 314 mln euros in Estonia in the first quarter of this year, the volume of total assets rose to 4.2 bn euros, informed LETA/BNS. The volume of assets invested into Estonia rose to 543.7 mln euros, making up 12.9 % of the total assets of pension funds, the Estonian Chamber of Commerce and Industry said. According to the chamber, the…

NCP’s proposed pension and benefit changes will cost state budget several hundred million euros

Tuesday, November 13, 2018

New Conservative Party’s proposals on changes for pensions and benefits will cost the next Latvian government several hundred million euros, according to estimates from ministries. NCP detailed commitment to increase non-taxable minimum for pensions to EUR 500 in the next two years and establish the minimal pension in the country at EUR 200. LETA has received ministries’ estimates on the cost of multiple proposals included in NCP’s offered plan. If…

Lithuania Reforms Tax and Pension Systems

Wednesday, July 11, 2018

In late June the Lithuanian Parliament adopted a law that consolidated the employer and employee base for social security contributions and significantly cut the rate of contributions. Labor taxes were consolidated on the employee’s side, but the gross salary (salary before tax) will be recalculated by increasing it 1.289 fold. The employer’s rate of social security contributions was cut from 31.18% to 1.47%, and the employee’s contributions rate was raised…