Only half of Faroese pensions are invested, survey finds

A new survey reveals that only half of Faroese residents have invested their pensions, with 43% reporting their pension funds remain uninvested, according to a study conducted by spyr.fo for Føroya Banka.

Just 20% of respondents confirmed their pensions were actively invested, while 14% were unsure. The survey also highlighted low interest in and knowledge of investment options, particularly among women.

Regional disparities were notable, with the northern islands (Norðoyggjar) showing the lowest investment rates—63% of respondents there had not invested their pensions, compared to 40% in the capital and 39% in Eysturoy. Among women, half reported no pension investments, while the figure for men was 37%.

For respondents with children under 18, only 9% had set up investment accounts for child savings.