kogumispõhised
Kogumispõhised is an Estonian term that translates to "fund-based" or "savings-based" in English. It is most commonly used in the context of financial systems, particularly in relation to pensions and investments. In Estonia, a significant portion of the pension system operates on a fund-based model, meaning that contributions are invested in various funds, and the future pension payout depends on the performance of these investments.
This system differs from a purely pay-as-you-go system, where current contributions are used to pay current
The performance of these funds is influenced by market conditions, investment strategies, and the management fees