Estonians want to be counselled on securing their future

Fifty-five percent of people in Estonia would like to get further information and counselling by a specialist when selecting the 2nd pillar pension fund, while 15 percent make their own decision, as revealed by the survey of SEB.

SEB Retirement Readiness survey shows a downward trend in the overall pension awareness of Estonian people compared to previous years. Only one out of five future pensioners take interest in the amount of their prospective pension.

“The facts that 26% of those saving for pension monitor once a year the health of their pension fund and 60% of respondents want professional fund managers to invest their pension money are a clear signal that the savers are not ready yet or simply do not wish to take independent responsibility for choosing the investment risks of their pension assets. Only a very small part of the population (5%) feel secure about investing and prefer to handle their pension investments personally. For most of the people, however, investing is not the main daily activity, which is why they are seeking for the help of specialists. When drawing parallels, then today also car or TV repair is undertaken only by the best specialists of their field,” Indrek Holst, Chairman of the Management Board at SEB Elu- ja Pensionikindlustus said.

The customers’ feedback revealed that SEB’s high-quality and reliable financial advisory service is very much appreciated. Fifty-five percent of Estonian people claimed that they need additional information when choosing the 2nd pillar pension fund and wish to consult a specialist. Only 15 percent make their own decision when choosing the pension fund.

“A lot of customers want to discuss the savings plans with a specialist, get an overview of their pension assets and find a saving solution with risk level specifically suitable for them. That is what the SEB personal advisory service is offering. Now it is possible to get a good saving advice also via video call. The service, which for years was available only at a branch, is now offered in full extent to all customers who value up-to-date technical solutions, but also time and convenience,” Holst added.

Additional information:

Julia Piilmann
Communications Manager
Marketing and Communications Division
SEB Pank

Phone +372 665 5340
Address Tornimäe 2, 15010 Tallinn
E-mail julia.piilmann@seb.ee
www.seb.ee