The Ministry of Social Affairs has sent a draft regulation for approval under which the retirement age will be 65 years and three months in 2028.
Currently, the retirement age is 64 years and nine months; in 2027, it will be 65 years and one month.
Under the law, the retirement age must be confirmed two years in advance.
From 2027, retirement age will no longer depend on a person’s year of birth but on their age in a specific calendar year.
The retirement age depends on the life expectancy of 65-year-olds and is calculated as the average over a five-year period.
For example, the retirement age for 2028 will be based on the average life expectancy from 2020 to 2024.
The new basis and formula for calculating the retirement age were adopted by the Riigikogu in 2018 with the State Pension Insurance Act.
The new retirement age of 65 years and three months will apply to those born in 1963, except for those born at the end of the year who will reach retirement age in 2029.
As of January 1, 2025, there were 327,000 pensioners in Estonia, including 312,000 old-age pensioners.
According to the Ministry of Finance’s forecast, the number of pensioners will increase to approximately 340,000 by 2060.
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