OREANDA-NEWS. On July 15, 2008 AS Nordea Pensions Estonia has received an activity license from the Financial Supervision Authority which among other activities extends to management of second and third pillar pension funds, reported the press-centre of Nordea.

Nordea will begin offering its pension funds in the autumn, when the compulsory and voluntary pension funds will be introduced. According to member of the AS Nordea Pensions Estonia management board Angelika Tagel, Nordea’s pension fund management firm in Estonia was created in order to meet customer expectations regarding Nordea pension solutions.

"In the Nordic countries, Nordea Group has offered various pension products for quite some time and Nordea Estonia’s customers have also taken an interest in when we will begin offering our pension funds in the local market.

We have been engaged in product development for some time now and today we are pleased to report that now only a few months are left until the launch of Nordea pension funds in Estonia. As early as the autumn, clients will have the opportunity to add Nordea products to their pension portfolio. Our strategy in both investment and consulting is to draw on Nordea Group’s strong, acknowledged experience," noted Tagel.

AS Nordea Pensions Estonia is part of the Nordea Life & Pensions Group, the leading life insurance and pension product provider in the Nordic countries. Nordea Life & Pensions has 1,2 million clients and the volume of the assets managed by the company is 33 billion euros.