
The volume of voluntary pension funds in the last year increased significantly, and the number of participants in the third pension stage increased by 17 200 people, reaching 220 000. But a majority of working people are not saving for pensions, with a
third of they explaining their inability to save
money. Illustrative photo. Photo: Thomas Thomas Trutschel / photothek.net / via www.imago-images.de
The volume of voluntary pension funds in the last year increased significantly, and the number of participants in the third pension pillar increased by 17 17 200 people, reaching 220 000. But a majority
of working people are not saving for pensions, with a third of they explaining their inability to save money.
A survey conducted by research company Norstat on behalf of Luminor, a third of Estonian residents don’t have the ability to save money for their pensions. Similar situation is observed in Lithuania, where 29 percent of respondents said that they cannot allow themselves to do this. In Latvia this indicator is even higher – 39 percent.
According to Luminor Luminor Luminor Vahur Madisson, it is most difficult to save for pensions for people in the age 40-49 years. About 37 percent of those that the economic status does not allow the savings. In age groups under 40 years this share is lower – less than 30 percent,andamongpeople50-65yearsitis32percent.
Theparticularpercentageisless.