Sa, 2.12.2023

Skype Estonia chief: people of my age never retire

Please note that the article is more than five years old and belongs to our archive. We do not update the content of the archives, so it may be necessary to consult newer sources.
Photo: Toomas Huik

Answering question posed by Postimees – how much ought to be laid aside for retirement? – Skype Technologies boss Tiit Paananen said people of his generation would work till they die.

According to Mr Paananen, the nature of work will be altered to such an extent that people will be able to labour their whole life long. He pointed, also, to the fact that with current economical developments it would not be possible to live idle in one’s senior days – he intending to create value as long as he lives. He is, however, insured in case sickness strikes.

Still, Mr Paananen invests up to 5 per cent of his income, preferring shares and index funds. «I invest in what I believe in,» he stated, adding that he is inclined to make investments of the riskier sort.

Silja Saar, chief executive of Danske Capital AS, recently said that in order to secure decent and dignified old age, payments into the so called second pension pillar ought to be increased; the financial advisers’ tip to save 15 per cent of one’s income only being sufficient for the younger generation.