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Ex-MPs' parachute pensions set to change

The Speaker of Parliament has asked parliamentary groups to present reform proposals next week.

Paula Risikko
Speaker of Parliament Paula Risikko Image: Roni Rekomaa / Lehtikuva

Paula Risikko, Finland's Speaker of Parliament, said on Wednesday that she has agreed with the parliamentary groups to make changes to the so-called ’adjustment pensions.’

Former MPs in Finland are entitled to adjustment pensions if they were elected to Parliament before 2011 and have served for at least seven years. On average, adjustment pensions amount to about 3,000 euros per month.

Different rules apply to ex-MPs elected in 2011 or afterwards: they have a right to claim adjustment money for up to three years.

However, many former MPs continue to receive adjustment pensions while being employed elsewhere. For example, former MP Suvi Lindén who left Parliament in 2011 has claimed between 5,000 and 6,000 euros per month as adjustment pension despite her multiple business interests.

Risikko said the aim is to have the proposals from the different parliamentary groups ready next week.

According to Risikko, it is important to look into the situation of those MPs who will suffer from the changes to ensure their circumstances do not become unduly difficult.

Parliament is also currently debating a citizens’ initiative to eliminate the right of former MPs to such pensions altogether.

”We all agree that changes will be made and they will be made during this spring,” said Antti Kaikkonen, who chairs the Centre Party’s parliamentary group.