EU Commission: Finland Must Adopt its Pension Reform

Earlier this month, the EU Commission published its country-specific recommendations as part of the European Semester. According to the Commission, Finland should adopt the pension reform as agreed.

The EU Commission issued four country-specific recommendations to Finland, one of which concerned pensions.

According to the Commission, the pension reform answers to the demographic challenge and must be adopted as planned. In addition, the Commission recommends that the additional days of unemployment security, i.e. the unemployment pathway to retirement, be blocked gradually.

“The recommendation to block the unemployment pathway to retirement is along the lines with the previous recommendations,” explains Mika Vidlund, Liaison Manager at the Finnish Centre for Pensions.

Last year, the Commission recommended Finland to adjust its statutory retirement age to changes in life expectancy. In the autumn of 2014, an agreement concerning the pension reform was reached. According to the agreement, Finland will link the statutory retirement age to life expectancy.

“The legislative work of the reform has progressed as scheduled. Our pension solution meets the central recommendation that the Commission has made throughout the 2010s.”

The country-specific recommendations of 2015