International Internet Magazine. Baltic States news & analytics
Saturday, 25.10.2014, 04:25
Parliament Speaker Loreta Grauziniene tried to calm the activists of the Lithuanian Pensioners' Party (LPP) by promising that pensions that were reduced during the crisis will be reinstated based on financial capabilities of the state, informs LETA/ELTA.
Keyword tags: Financial Services, Legislation, Lithuania, Pensioners, Society, Strike
In a United Nations global survey, in tandem with "HelpAge International", the so-called aging index was tabulated after examining the situation in 96 countries, informs LETA.
The Political Council of the ruling majority in Lithuania convened for a sitting on Friday and reached a decision to increase the basic pension from 1 July 2015. If the increase comes on that date, then the move will require additional LTL 92 million (EUR 26.6 million), informs LETA/ELTA.
As of September 1, 2014, Nordea Pensions Estonia AS is the new fund manager of ERGO pension funds in Estonia, Postimees Online reports.
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.