Pension investments under review

TALLINN - The Estonian Finance Ministry is compiling a law amendment that eases restrictions on investing the obligatory pension fund money, reports Postimees. The amendments to the investment funds’ law that will be sent for approval rounds in the autumn would allow pension funds to invest money in long-term investment projects, for example in wind energy parks or gas networks; they are also considering investments in precious metals that are forbidden now.

“Since the savings pension system has been in operation for over ten years already, it is appropriate to revise certain restrictions and change them if justified,” said Finance Ministry financial markets policy department head Thomas Auvaart, adding that the changes should motivate fund managers to invest more in the Estonian economy.