As the state suspended payments to the second pension pillar for 14 months, those who left the second pension pillar are now paid the amount suspended afterwards. The money will reach people's bank accounts at the end of September.
At the end of September, people who left the pillar this year and received the money in September will receive another payment, which will transfer to their account the current amount of 2 percent of their gross salary from July 2020 to the end of August this year, Sirje Suutre told the communications department of the Ministry of Finance.
The state has to return a total of almost €280 million to people at the expense of the payments of the second pension pillar, which has been suspended for 14 months. As the return of pension funds has been good now, the state has to pay up to €100 million to pension savers to compensate for the growth, Joel Kukemelk, the head of LHV Varahaldus, told ETV news show "Aktuaalne kaamera" on Monday.
Suutre said that those who have already left the second pillar will not be compensated for the performance.
"Yields are only compensated for those who wish to continue to accumulate in the second pillar. The aim is to ensure that the average pensioner does not lose his second pillar assets due to suspension. The loss for people leaving the second pillar is smaller because the wait is longer for their payments to be reimbursed for a pensioner than for those who leave," Suutre said.
In total, the state spends about €80 million to compensate for the performance, Suutre said.
Editor: Roberta Vaino