Ratas will not take money out of second pillar pension fund ({{contentCtrl.commentsTotal}})

Minister of Finance Martin Helme (EKRE), Prime Minister Jüri Ratas (Centre) and Minister of Foreign Affairs Urmas Reinsalu (Isamaa) at the press conference marking 100 days in government. Aug. 8, 2019.
Minister of Finance Martin Helme (EKRE), Prime Minister Jüri Ratas (Centre) and Minister of Foreign Affairs Urmas Reinsalu (Isamaa) at the press conference marking 100 days in government. Aug. 8, 2019. Source: ERR

Prime Minister Juri Ratas said at a government press conference on Thursday that he will continue collecting money in the second pension pillar also after the implementation of the pension reform.

Minister of Social Affairs Tanel Kiik also said he will continue collecting money in the second pension pillar. Kiik noted that he is recommending others to do the same.

"Saving for retirement is a reasonable principle. Whether to do it through the second pillar or, for example, through an investment account, which is an additional mechanism, depends on one's own skills, capabilities, knowledge and time available to manage investments," the minister said.

However, Minister of Finance Martin Helme said that he has not yet joined the second pension pillar, nor does he intend to do so in the future. In response, Minister of Foreign Affairs Urmas Reinsalu recommended that Helme join the second pension pillar.

"As of right now, I would definitely not say that I will take out the money," Reinsalu said, adding that continuing in the pillar also depends a lot on the operators of the second pillar.

The government approved on Thursday a set of legislative amendments aimed at making voluntary the system of mandatory contributions by working-age people into the second pillar of the pension system.

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Editor: Helen Wright

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