Total assets in Swedbank’s second and third pillar pension funds in Estonia exceeded €3.5bn for the first time at the end Q3 2026.

It said that the growth was driven by a combination of member contributions and positive investment returns.

Over the third quarter of 2026, the assets of Swedbank’s pillar II and III pension funds increased by almost €106m.

At the end of September, Swedbank's assets in pillar II pension funds totalled approximately €3.1bn, an increase of 2.9 per cent over the quarter.

Meanwhile, its pillar III pension assets were €438.5m, an increase of 4.5 per cent in Q3.

"Saving for retirement gives the best results when done consistently and over a long period of time,” said Swedbank head of investment funds, Age Petter.

“People's regular contributions and investment returns have helped to grow pension fund assets to record levels. It is good to see that more and more people are saving for retirement in the third pillar as well.”

Swedbank’s second pillar pension funds received 41.5 per cent of all Estonian pillar II pension contributions in the third quarter, with around 45 per cent of all pillar II contributors saving for pensions in Swedbank funds.

Contributions to Swedbank’s third pillar pension funds rose by 5.3 per cent over the third quarter, with positive investment returns contributing €7.7m.

Petter said the continued growth in the third pillar showed that more and more people wanted to increase their future pension with additional savings.

"One of the advantages of the third pillar is the tax relief offered by the state, which makes saving for retirement more attractive,” he added.

“You don't have to start saving with large amounts. Even smaller regular contributions can turn into a considerable pension supplement over the years.”

Petter concluded that the growth in contributions was expected to accelerate further in Q4, as people want to make the most of the tax break before the end of the year.

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