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Finnish pensions rising more than wages

Tuesday, 08 November 2011
Pensions in Finland are pitted to rise by more than wages from the turn of the year, according to reports from various Finnish press sources.

According to reports, earnings-related pensions are set to rise by 3.6 percent, while state pensions will go up by 3.8 percent, each more than one percentage point more than wages.

Salaries are scheduled to rise by just 2.4 percent, according to the national framework agreement on incomes agreed last month according to reports.  The framework agreement is the basis of negotiations between individual unions and employers.

The disparity comes about because pensions in Finland are up rated according to an index that takes account of both inflation and wages. Pensioners’ association director Hannu Partanen estimates that pensioners will also get a bigger increase than wage-earners in 2012.
By Scancomark.se Team


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