Most of Estonians have less than 1000 euros saved for a rainy day, Swedbank Estonia has said. Experts suggest the government and banks should promote saving, introducing specific measures, for example, independent financial advisers.
Another idea would be for employers to divert part of a pay-check directly to staff savings accounts, ERR wrote.
As regards pensions, Swedbank has told that most Estonians believe that their pension will be 70 percent of what they earned in their pre-pension years, while the first two pillars of the pension system actually make up only 40 percent.
A poll conducted by the bank revealed that 43 percent of the nation’s employees are hoping to continue working in the retirement age, 36 percent have bought real estate and hope to earn from that.
29 percent consider they will depend on their children and around 17 percent are saving money for retirement.
Source: Baltic News Network - ERR
http://bnn-news.com/large-part-estonians-live-savings-108649