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Second pension pillar - Advantages


Accumulation of funds for retirement in a disciplined, continuous and expedient manner


Additional support from the state – a contribution from the state budget is calculated of the average gross wage (approx. 21 euros per month).

Risk diversification: your old age pension from Sodra depends on the taxes paid by the employed people and the number of pension recipients, and the pension accumulated with the 2nd Pillar Pension Funds – from the amount of contributions transferred to these funds, the term of pension accumulation and return on investments of the funds. 

Higher expectations of pension income – we would like to draw your attention that the pension accumulation company does not provide a guarantee of profitability of the pension fund. Outstanding result for one year does not necessarily mean that performance in the next year will be the same. Investment in value may rise and fall. You may lose more than your initial investment. 

Investment of savings in the pension fund on continuous basis – if you suspend your pension contributions, in the event of unemployment, sickness, within the period of pension  reforms (in the year 2013 or in the first-half year of 2019) and submit an application for suspension of the pension contributions to the pension funds or due to any other reasons. If you start working again and receive the insured income or resume your pension contributions after the suspension period, the Sodra’s contributions will be transferred to the 2nd Pillar Pension Fund.

Decrease in the management fees of the fund assets will result in higher return on investment for the participants.

The Government’s support for parents of young children: since the year 2014, the pension contributions at the rate of 1.5 of national average wage (to be calculated on the average gross wages of workers of the national economy during four quarters of the year before last year) will be paid in favour of one of parents with children under three years of age or receiving maternity (paternity) benefit or covered by the state social insurance scheme. Pension contributions will be paid for every child under the age of three.

Possibility to switch from one pension fund to another, if savings are available in the participant‘s individual account.

Possibility to receive the pension benefit in advance, if a participant is granted an early state social insurance old-age pension (no earlier than 5 years prior to the date of full retirement).

Continued entitlement to the social benefits paid by Sodra in case of illness, maternity leave and others. The benefits will not be decreased.

Savings accumulated with the pension fund will be inherited. If you pass away, your savings will be paid out to your relatives or other heirs appointed by you.

Pension from several sources – from Sodra and the pension fund.

For more information about Second pension pillar, you can call +370 5 268 2800 or visit a SEB bank unit of your choice.