Estonia, Financial Services, Funds, Investments, Pensioners

International Internet Magazine. Baltic States news & analytics Thursday, 25.04.2024, 17:28

Third pension pillar is becoming less popular in Estonia

BC, Tallinn, 29.05.2013.Print version
Estonian Tax Board data indicate that the interest of people towards the third, voluntary pension pillar has fallen for four years in a row, LETA/Public Broadcasting reports.

According to last year's tax concessions statistics, the payments to the third pillar fell by nearly a million euros to 29 million.


The number of income tax declarations where the third pillar payments were listed fell in a year by around 3,400 to 61,900.


The fall has lasted for four years. In 2008, the sum was 44 million euros and the number of declarers 98,200.


SEB revealed in spring that the third pension pillar residue forms just 6% of the volume of deposits.


One of the reason why the third pillar pension funds have lost popularity can be the decision of the state to set a ceiling to income tax that can be reclaimed for the payments.

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