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Over 300,000 people in the funded pension system

27.10.03

The total number of people who have joined the 2nd pillar of the Estonian pension system, i.e. the funded pension leg, exceeded 300,000 in September and reached 302,444 by the end of the month.

The people, who will join with the 2nd pillar of pension system before October 31 this year will start collecting pension from January 1, 2004.

The total amount of money in all funded pension funds grew to EUR 49 million. Investment reports show that funds have major investments in Lithuanian and Netherland’s interest funds. Other popular investment products include interest fund of state conglomerate Estonian Energy, shares of Estonian Telecom and Hansabank, and S&P 500 index shares.

Estonian CSD opened a renewed pension information Internet homepage (www.pensionikeskus.ee) on September 29. The pension system portal is oriented both to private persons and employers. It gives overview of Estonian three pillar pension system and gives daily update pension funds’ statistics. Information on the pension web-page is available in Estonian, English and Russian languages.