Agenda Profile: Aivar Sõerd
First reading of the Draft Act on the Amendment of the Income Tax Act and the Funded Pensions Act (Bill 434 SE)
2024-06-06
15th Riigikogu, 3rd session, plenary sitting
Political Position
The political position is critical of the results of the second pillar mandatory pension reform, highlighting the low number of investment accounts (under 5,000) compared to the volume of those who exited the pillar (over 230,000). In the context of Draft Bill 434 SE, the speaker, as a representative of the Finance Committee, fulfills a neutral and procedural role, focusing on the administration of the legislation. The criticism is directed at the policy's effectiveness, not its underlying values.
2 Speeches Analyzed
Topic Expertise
The speaker demonstrates expertise in financial matters, particularly regarding the Funded Pensions Act and Personal Investment Accounts (PIK). Specific statistical data is utilized to evaluate the effects of the second pillar reform, including the number of opt-outs and the implementation of pension investment accounts. Furthermore, the speaker is up-to-date on cryptocurrency regulation and issues concerning licensed service providers.
2 Speeches Analyzed
Rhetorical Style
The rhetorical style is formal, substantive, and procedural. The first address is a data-driven inquiry that calls into question the effectiveness of the policy, utilizing a logical appeal. The second address is a neutral and informative overview of the committee's work, focusing on facts and deadlines (e.g., the deadline for submitting amendments is June 20 at 5:15 PM). Emotional or personal appeals are absent.
2 Speeches Analyzed
Activity Patterns
The Speaker is actively involved in the legislative process, having been appointed as the representative of the Finance Committee (the Lead Committee representative) for the debate on this draft act. The scope of activities includes participating in the committee session (on May 27th), presenting a report to the plenary session, and calculating legislative deadlines.
2 Speeches Analyzed
Opposition Stance
The confrontation is aimed at the results of the previous pension reform, which is indirectly characterized as a failure—"the outcome of draining the funds." The criticism is policy-based and focuses on the reform's ineffectiveness in promoting self-directed investment, emphasizing that people were supposed to "start investing heavily on their own initiative," but only a small portion actually followed through.
2 Speeches Analyzed
Collaboration Style
The working style within the committee is consensual and procedural. The speaker emphasizes that all decisions made by the Finance Committee regarding the handling of the draft bill (including placing it on the agenda, concluding the first reading, and appointing a representative) were reached by consensus.
2 Speeches Analyzed
Regional Focus
Not enough data.
2 Speeches Analyzed
Economic Views
Economic perspectives focus on the regulation of financial instruments and the efficiency of the pension system. In particular, concern is voiced that promoting self-directed investment through the pension reform has failed to deliver the expected results, as the number of users utilizing pension investment accounts remains very small. The discussion also covers allowing crypto assets on investment accounts, noting that they are sufficiently controlled and regulated.
2 Speeches Analyzed
Social Issues
Not enough data.
2 Speeches Analyzed
Legislative Focus
The legislative focus is on the draft act amending the Income Tax Act and the Funded Pensions Act (434 SE). Priorities include allowing crypto assets on investment accounts and addressing aspects related to unlicensed small funds. The speaker acts as the procedural lead for the bill's processing, proposing to conclude the first reading and setting the deadline for submitting amendments.
2 Speeches Analyzed