Tax Benefits For Individuals

1) You will receive tax deductions for your contributions to the pension fund

You are entitled to receive the PERSONAL INCOME TAX deductions provided by the law. You should submit to the local office of the State Revenue Service (VID), your personal income tax return, listing the pension fund contributions for the tax year, and attach payment documents verifying the total amount of contributions made by you.

You will be refunded 26% (the personal income tax rate in 2010. Year 2011 - 25%) of those contributions, which do not exceed 10% of your gross income in the tax year.

If your contributions are made through the offices of your employer, you can ask for the tax-deductible items to be included in your salary calculation, thus taking advantage of the deductions provided by the law at the moment of payment. In such a case you will not need to fill out a suppplemental tax declaration in order to receive the individual income tax deductions.

2) You owe no tax on the income derived from investing your contributions (earned interest)!

When you will start receiving your private pension, SEB pensiju fonds will calculate the personal income tax only on the contributed amount paid  by employer.

Individual contributions in pension fund is not object for personal income tax.