Pensions miss out on rising tide

  • 2012-04-11
  • From wire reports
TALLINN - The Estonian state freezing its payments to the 2nd pension pillar for Estonia’s transition to the euro meant that the surge in financial markets was missed and future pensioners will be deprived of thousands of euros of gains, reports Aripaev.According to the calculations of Swedbank, the state suspending its share of payments into the pension funds cost a person who had joined the 2nd pension pillar nearly a half of their 2nd pillar value. The second pillar itself is by at least half a billion euros thinner, according to calculations.The bank based its calcula...
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