
At the same time as the majority of Europeans are going to retire, in Estonia, According to Eurostat data, 54.9% of people continue to work, which is the highest indicator in the European Union. Pensioner counts
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In this time as the majority of Europeans when the pension age are going on earned retirement, in Estonia, According to Eurostat data, 54.9% of people continue to work, which is the highest indicator in the
European Union.
“Data from Eurostat, published in December, showed that 54,9% of Estonian Estonian persons continue to work after receiving the old-age pension, which is the highest indicator in the European Union. Second place is neighboring Latvia, where 44.2% of pensioners work, and third place is also owned by the Baltic countries – in Lithuania work 43,7% of people receiving the old the fund manager of Luminori pensionifondid Vahur Madisson.
He noted that working on pension is not a problem, but because a majority do it for financial reasons, the situation is concerning.
According to received data, 31.6% of people were forced to continue working after retiring on pension, because they needed an additional income to live. In Estonia every fourth working pensioner continued to work, because the additional income they received was sufficient for their life.attractive.
“In the prosperous countries Switzerland, Netherlands, Denmark and Norway – 24% of old-age pensioners work on average, And 60% of people continue to work not for an additional income, but because they really like their work. In Estonia only a quarter of respondents cite the pleasure of their work as the reason they continue to work, “And one in 10 working retired people say this is because they want to be socially active,” Madison said.
The Eurostat data showed that the proportion of people earning additional money on pensions, is lowest in Romania, Greece and Spain, where less than 5% of old-age pensioners work.
In last year Luminor commissioned a survey from Norstat, which showed that 65% of Estonia considered, that their financial position in pension will be very good or somewhat good. But Madisson emphasized that the public pension does not provide the pensioner the same level of life as the who was in the time working.
“According to a OECD study, the pension of a European Union worker receiving the average wage is 68.1% of his oldest income. According to estimates accepted in countries with high levels of wealth, a pension equal to 60% of the previous income is necessary for a decent age. In Estonia also today the average pension is about 40% of the average wage. While we know that in the number of people of working age will be decreasing, we count on a quick increase in the state pension is not reasonable,It’s more of the opposite,” he said.
According to the fund manager of Luminori pensionifondid, the increase in taxes, inflation and, for some, the cancellation of the second pension step, are increasing the uncertainty of the people of Estonia. In Madisson’s view, everyone should think about how to secure their pension, whether the third pension stage, saving or investing in different assets.
The Eurostat data is based on the Survey of theWorkforceoftheEuropeanUnionandcoverspeopleintheageof50to74yearsreceivingtheold-agepension.