Analytics, Employment, Estonia, Financial Services, Funds, Pensioners

International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2024, 10:16

SEB Estonia: quarter new pensioners continued employment

BC, Tallinn, 04.07.2014.Print version
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.

This means that a quarter of those who reached their pension age continued working and collecting reserves in the second-pillar pension funds.

 

CEO of AS SEB Elu- ja Pensionikindlustus (SEB Life and Pension Insurance) Indrek Holst said that the current new old-age pensioners have accumulated savings for only 10 years instead of regular period of 30-40 years, and hence the impact of the second-pillar funds on the average old-age pension is rather modest.

 

A total of nearly 656,000 persons in Estonia have joined second-pillar pension funds, more of 148,000 of them are accumulating pension savings at SEB.

 





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