News

According to the Foresight Centre’s new study “Pension Size and Purchasing Power by 2050”, a multi-pillar pension system makes pensions more resilient to demographic shocks, spreading risks between the labour market and capital markets.

The Foresight Centre developed three scenarios that represent the financial situation in 2050 of people who had received an average salary and have recently retired.

Although Estonia’s pension system is sustainable, it does not ensure financial well-being for the future elderly, and people must take increasing responsibility in securing their future, says the study of the Foresight Centre.

Estonian people tend to give a high assessment of their financial well-being, but they invest less in securing their future than their knowledge and incomes would allow of, studies of money wisdom reveal.