The president’s salary will drop from 160,000 euros to 126,000 euros per annum. The government has approved the move.
In practice, Niinistö will be at the same pay level that his predecessor Tarja Halonen enjoyed in 2006. In addition to a tax-free salary, the president lives rent-free in his state residence with maintenance, heating, lighting and decoration expenses all covered by the state.
Previous presidents each receive a pension equivalent to 60 percent of their original salary earned while in office. However, the government is proposing that this not be reduced for former heads of state.