- Estonian pension system
- I pillar
- II pillar
- III pillar
If the value of the units accrued to the pension account is between 10-50 times the rate of the national pension, the funded pension can be taken out in regular payments from the pension fund, i.e. a fund pension contract can be concluded.
The person receiving the pension must choose a suitable schedule. The older the person, the shorter the period across which the payments can be distributed. For example, persons who are 60 years old, can make schedule for the minimum of 12 years, persons who are 61-62 to the minimum of 11 years etc.
|Minimum calculated total duration of the fund pension|
|Owner of the unit is 60 years old||12 years|
|61-62 years old||11 years|
|63-64 years old||10 years|
|65-66 years old||9 years|
|67-68 years old||8 years|
|69-70 years old||7 years|
|71-72 years old||6 years|
|73-74 years old||5 years|
|75-76 years old||4 years|
|77-78 years old||3 years|
|79 years old or older||2 years|
The payments can be chosen as monthly, quarterly or annual payments.
Redemption and payment of the units of the pension fund is carried out according to the fund pension application on the 16th-20th date of each month, of the last month of each quarter or of the last month of the pension year.
Contracts for receiving the fund pension are concluded at bank offices.
If a person does not wish fund payments for the determined period, a lifetime pension contract can be concluded with the consent of the insurance company. However, if the accrued sum is less than 50 times the rate of the national pension, the insurer has the right to refuse to conclude the pension contract.
Read more: The national pension