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You can get pension from several sources after your retirement.

Building up pension savings

When we work and receive regular income, we get used to meeting most of our needs and rarely think if our income will be enough for dignified living after we reach our retirement age. You should take care of it now.
 

  • First pension pillar

    First pension pillar

    If your employer or you pay usual social contributions for a certain period of time, you will receive a state social insurance pension from the Social Security Fund Board (Sodra) once you reach the retirement age. Usually, it makes up around 30 – 40 % of previous income. Therefore, it is reasonable to take advantage of the opportunities offered by a multi-pillar pension system and build up additional pension savings.

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  • Second pension pillar

    Second pension pillar

    Some of the social contributions and, if you wish, an additional portion of your salary may go to the second-pillar pension fund for a higher pension. Those who build up their pension savings using personal funds are supported by the state as an additional contribution from the state budget is made. Pension contributions are invested so you can expect a return under favourable conditions. Once you reached your retirement age, you would have two sources for the pension.

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By saving in the second-pillar pension fund, you bear the risk of investment return. To be able to partially manage this risk, choose a pension fund depending on your age.

  • Third pension pillar

    Third pension pillar

    You can expect a pension higher than the average pension currently paid by Sodra by taking advantage of the pension system and the opportunity to build up pension savings in a second pillar pension fund. Still, if you want to have a sufficient pension (about 70% of your salary), you should build up additional savings in a third-pillar pension fund or under a unit-linked insurance plan. Members of the third pension pillar are eligible to personal income tax relief and may recover part of their contributions.

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If you build up savings in a third pillar pension fund or under a unit-linked insurance contract, you bear the risk of investment return. To be able to partially manage this risk, choose a pension fund and investment profile depending on your age and acceptable risks.


This information is promotional in nature and cannot be construed as a personal recommendation, order or solicitation to hold savings in the above-mentioned pension funds or under a unit-linked insurance plan, and may not constitute any basis or part of any subsequent transaction. Although the content is based on sources deemed to be reliable, SEB bank, UAB "SEB investicijų valdymas" and UAB "SEB gyvybės draudimas" cannot be held responsible for any inaccuracies or losses which may be incurred when investments are based on such information.

Second-pillar SEB Pensija pension funds are managed by UAB "SEB investicijų valdymas". You can build up additional pension savings voluntarily in a  third-pillar pension fund (the service is provided by SEB Investicijų Valdymas) or under a unit-linked insurance plan SEB Pensija Plius (the service is provided by UAB "SEB gyvybės draudimas").

Please not that the state social insurance old-age pension for members of the second pillar of the pension system who conclude pension savings agreements is reduced proportionally according to the procedure laid down in the Law on State Social Insurance Pensions. Please also note that the concluded second-pillar pension savings agreement cannot be terminated, except where a member is unilaterally terminating the agreement concluded for the first time within 30 calendar days of its conclusion notifying the pension company thereof in writing.

Return on investments is exposed to risks. Investments may rise or fall in value and the fact that the return is historically positive does not guarantee that it will remain such in the future. In certain cases, losses may exceed the original investment. You are responsible for your investment decisions. Therefore, before making a decision to invest you must, either yourself or with a help of our consultants, consider that your investments may fall in value due to inflation, changes in market interest rates or certain events beyond the control of UAB "SEB investicijų valdymas" or UAB "SEB gyvybės draudimas". If you want a consultation on risks, please visit the SEB bank unit of your choice or call a 24/7 line at 1528.

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