SEB 2nd pension pillar assets surpass 1 billion euros

The amount of assets in SEB 2nd pension pillar in Latvia has surpassed 1 billion euros, of which 140 million euros is the increase in assets, which currently has increased participants’ accrued pension capital.

“I am glad that out of 1 billion euros in 2nd pension pillar plans the amount of increased assets has reached 140 million euros. It once again confirms that despite short term fluctuations, which occur in financial markets on a regular basis, in the long run 2nd pension pillar works with profit and increases its participants accrued pension capital,” Janis Rozenfelds chair of the board of SEB Investment Management said.

For more than 15 years SEB has been taking care of customers’ pension savings, and every one in five 2nd pension pillar participants has entrusted their 2nd pension pillar capital to SEB.  “Thanks to every 2nd pension pillar participant who trusts us and has chosen one of our seven pension plans,” Rozenfelds emphasized.

Contributions to 2nd pension pillar creates additional savings to pension provided by 1st pension pillar. 2nd pension pillar savings are made by your social insurance contributions and cannot be supplemented independently. However it is important to select the right pension plan for you.

The accumulated 2nd pension pillar fund can be received when the retirement age set in the country is reached. It can be done in two ways: you can opt a Lifetime pension that allows to choose a beneficiary who, in case of your death, will continue to receive your earned pension or add the accumulated 2nd pension pillar fund to your 1st pension pillar. Since your 2nd pension pillar accrual is real money that belongs to you, it is advised to regularly follow the performance results of your pension plan and the reputation and experience of your 2nd pension pillar manager.