International Internet Magazine. Baltic States news & analytics
Wednesday, 12.03.2014, 13:40
Every eighth pension saver in Estonia continues payments
589,000 people have joined the second pension pillar and nearly 76,000 of them have decided to continue payments. 57% of the latter are women.
The applications to continue second pillar payments can be submitted till November 30. Bigger banks have expressed hope that about a third of people would continue payments.
The second pension pillar is a pension fund where both the state and the pension collector contribute. Due to the economic recession, the state decided to suspend its payments to the pillar from July 1 till the end of next year. People can continue their share of payments but have to submit an application for it.