International Internet Magazine. Baltic States news & analytics
Saturday, 20.09.2014, 19:00
As of September 1, 2014, Nordea Pensions Estonia AS is the new fund manager of ERGO pension funds in Estonia, Postimees Online reports.
Keyword tags: Estonia, Financial Services, Funds, Investments, Pensioners
In the first half of 2014 the assets managed by 2nd pillar pension funds grew by LTL 496.41 million (EUR 143.77 million) and stood at LTL 5.94 billion (EUR 1.72 billion) at the end of June 2014, reports LETA/ELTA.
The volume of the Estonian semi-obligatory second pillar pension funds, which are funded partly by the state and partly by people, increased at record pace in the first half of the year 2014, LETA/Postimees Online cites the fresh financial market report of the Financial Supervision Authority.
The global financial services company Allianz unveiled Pension Sustainability Index (PSI), which covers 50 states and places the Estonian pension system on the 11th position; in 2011, Estonia was located on the 13th position in the rankings, LETA/Public Broadcasting reports. Latvian pension system proved to be more sustainable.
Lithuania’s Prime Minister Algirdas Butkevicius introduced to Parliament primary tasks of the Cabinet. He promised that pensions, social benefits and public sector salaries will be increased starting the year 2015, informs LETA/ELTA.
As of end of 2013, nearly 22,000 old-age pensioners in Estonia were entitled to get payments from the second pillar pension funds, but only 16,388 submitted requests to get payments, writes LETA/National Broadcasting.
Reacting to the government's slow progress and its inability to satisfy demands, the Latvian Pensioners Federation has decided to hold a demonstration on September 6, Square of Latvian Riflemen, as the leader of the federation, Andris Silins, told LETA.