Estonia, Financial Services, Pensioners
International Internet Magazine. Baltic States news & analytics
Wednesday, 22.05.2013, 23:14
Every eighth pension saver in Estonia continues payments
Juhan Tere, BC, Tallinn, 28.09.2009.
Print version
Print versionEvery eighth person who has joined the second pension pillar in Estonia has decided to continue payments during the period when the state does not contribute to the pillar, National Broadcasting/LETA reports.
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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.
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