Estonia’s industry body for fund managers, whose members include all of the country’s pension fund managers, has joined PensionsEurope, bringing the European association’s membership tally to 24.

The decision to admit MTÜ Eesti Fondihaldurite Liit – the Estonian Fund Managers Association (EFMA) – was taken at PensionsEurope’s general assembly meeting in Brussels on 4 November.

EFMA will join on 1 January 2015.

Joanne Segars, chair of PensionsEurope, said: “I am delighted MTÜ Eesti Fondihaldurite Liit has joined PensionsEurope. 

“Pension funds in Estonia face the same pressures as pension funds in many other European countries.”

Segars said she was pleased PensionsEurope – which represents national associations of pension funds and similar bodies for workplace and work-based pensions – was growing.

“Inclusion of pension funds from Central and Eastern EU member states is very important in our strategy,” she said.

Silja Saar, chairman of MTÜ Eesti Fondihaldurite Liit, said pension funds in Estonia were in excellent condition, and that it was important for the association to participate in legislative initiatives at the European level.

“We feel PensionsEurope is in a great position to help us in such endeavours and also provides a great platform to share experiences with our peers in other jurisdictions,” said Saar.