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Pension Calculation

Pension formula:

The pension amount consists of three parts.

  1. The pension base part is the basis that is the same for all different pension types. Starting from April 1st, 2019, the base part is 191,6496 euros.
  2. The pension qualification period part depends on the time worked, studied, and served in the army until December 31st, 1998. These years are taken into consideration based on the employment records book and other documents. To find the qualification period part, the pension qualifying period collected until December 31st, 1998, shall be multiplied by the yearly rate. The yearly rate is the cost of one pension qualifying year or the insurance component. Starting from April 1st, 2019, the yearly rate is 6,627 euros.
  3. The insurance part of the pension depends on the sum of insurance components that are calculated since January 1st, 1999, according to the social tax paid for you. To find the insurance part, the total of the insurance components is multiplied by the yearly rate. The yearly rate is the cost of one pension qualifying year or the insurance component. Starting from April 1st, 2019, the yearly rate is 6,627 euros.
 

B

BASE

S

QUALIFICATION PERIOD PART

K

INSURANCE PART

P

PENSION

191,6496

yearly rate x pension qualifying period

yearly rate x total of insurance components

=

 

Example 1.  A person has 15 years of pension qualifying period but no insurance part. The base amount is 191,6496 euros. The qualifying period is 15 years multiplied by the yearly rate 6,627, which totals 99,405
 euros. As there is no insurance part, the pension amount is base (191,6496 euros) and qualification period part (99,405 euros) added up, which means the pension amount is 291,0546 euros.

 

BASE

QUALIFICATION PERIOD PART

INSURANCE PART

PENSION

191,6496

6,627

15

99,405

6,627

0

0

291,0546

 

Example 2. A person has 25 years of pension qualifying period and 10 years’ worth of insurance components. The base part size is 191,6496 euros. The qualifying period part is 25 years multiplied by the yearly rate 6,627, which totals 165,675 euros. The insurance component size is 10 years multiplied by the yearly rate 6,627, totalling  66,27 euros.
To find the total pension amount, the base part 191,6496 euros, qualifying period part 165,675 euros, and the insurance component size 66,27 euros are totalled up, resulting in the pension of 423,5946 euros.

BASE

QUALIFICATION PERIOD PART

INSURANCE PART

PENSION

191,6496

6,627

25

165,675

6,627

10

66,27

423,5946

 

Example 3. A person has 30 years of pension qualifying period and the insurance components also total 30. The base part size is 191,6496 euros. The qualifying period part is 30 years multiplied by the yearly rate 6,627, which totals 198,81 euros. The insurance component size is 30 years multiplied by the yearly rate 6,627, totalling 198,81 euros.
To find the total pension amount, the base part 191,6496 euros, qualifying period part 198,81 euros, and the insurance component size 198,81 euros are totalled up, resulting in the pension of 589,2696 euros.

BASE

QUALIFICATION PERIOD PART

INSURANCE PART

PENSION

191,6496

6,627

30

198,81

6,627

30

198,81

589,2696

 

Calculator for the I pension pillar  http://www.pensionikeskus.ee/eesti-pensionisusteem/kalkulaatorid/1-samba-kalkulaator/