Finland Times

Parliament on Wednesday approved the bill brought proposing reduction of the remuneration of the President of the Republic, reports news agency STT.

The new Act will cut the president's pay from the current EUR 160,000 to EUR 126,000.

The amendment was adopted unanimously. 

The government on February 7 submitted a proposal to the Parliament for bringing amendment to the act on the remuneration of the President of the Republic, according to a government press release. 

Earlier, the President, Sauli Niinistö in a letter to the prime minister proposed that, as part of general government savings, The act on the remuneration of the President of the Republic be amended and the remuneration be brought back to the level adopted on 1 March 2006.

The amended pay would apply to the current president's term of office. In line with the prevailing practice, the president's pay and allowances would be reviewed next time in autumn 2017.

The act is proposed to include a transitional provision according to which the provisions in force at the time of the entry. The amended act will apply to the annual pension of a president who has resigned from his/her duties as the President of the Republic before the amended act's entry into force and to the pension for surviving spouse and children.

 The government proposal does not include proposals for changing the pension payable to a president who has resigned from his/her duties.