Finnish workers were offered to stay in the service until the age of 70

The Finnish Ministry of Finance has proposed raising the retirement age to 70. This was reported on October 7 by Ilta-Sanomat.

"The Ministry proposes to increase the length of employment. In particular, ideas are being put forward to raise the retirement age to 70 years," the article says.

It clarifies that, in addition to raising the retirement age, the Ministry of Finance proposes to review the age exceptions for the payment of unemployment benefits and to waive child care benefits at home. The Agency attributes these measures to the need to increase the length of work and the number of employed people.

According to the Ministry's estimates, raising the retirement age may increase the number of employees by 50-120 thousand people. The abolition or significant reduction of the allowance for home child care, according to the calculations of the department, can additionally bring about 10 thousand people to the labor market.

The ministry's initiative has already been sharply criticized by the opposition. The chairman of the Left Union party, Minya Koskela, said that the retirement age in the country is already steadily increasing in accordance with previous decisions. In her opinion, which is cited by the STT Info portal, the new reform will shift the main economic burden onto the shoulders of young people.

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The day before, it was reported that a storm in Finland led to a sharp increase in wind power generation and a collapse in wholesale electricity prices to almost zero. It was noted that the average daily wholesale price of electricity in Finland decreased to €0.82 (78 rubles) per 1 MWh. The maximum value was €2.17, and the minimum value dropped to minus €0.40 per 1 MWh.