Estonia, Financial Services, Funds, Investments, Markets and Companies

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 11:54

Estonian FinMin: pension funds should invest in state-owned companies

BC, Tallinn, 31.05.2016.Print version
Estonian Finance Minister Sven Sester supports investments of the second pillar pension funds to be brought to Estonia, and for that issuing the bonds of companies owned by the state in Estonia and putting share positions on the market are considered, informs LETA/BNS.

"I fully support pension fund investments coming to Estonia. I think that the best measure here is introducing possible state financial instruments to the market," Sester told BNS after a roundtable where the role of pension funds in the Estonian economy was discussed.

 

He added that fund managers who took part in the roundtable expect possible bond issuings from the state and introducing share positions to the market. According to Sester, he supports that and believes that it must be done in cooperation with private capital and public capital.

 

Sester also said that on the market of second pillar pension funds, competition is decreasing and therefore the state has to see if it can somehow increase competition so that consumers have more options to make the right choices.

 

The minister also talked about the transparency of pension funds, saying that in the future Estonians have to understand better what are the expenses connected to collecting pension, including pension funds' management fees.

 

According to Sester, the Ministry of Finance is at present drawing up the first more concrete proposals and steps for changing pension fund laws, and will reach the government probably in August.






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