You deserve more than just half of your income.
It’s time for a Next Generation Pension
Secure your future with III pillar voluntary savings – no expertise needed. We’ll handle the investing, so you can enjoy today’s lifestyle tomorrow.
Zero-effort investments
You’ll contribute, we’ll invest
Results that build confidence
8.25% return rate for 20–48-year-olds in 2025
Control without complexity
Change or stop contributions, withdraw anytime
Decreasing fee that rewards your growth
Fee rate lowers from 0.7% to 0.3% as your savings grow
Money in your pocket with tax returns
Get back up to 25,5% of what you put in
Past performance doesn't guarantee future performance. Investment results should be evaluated over the long term.
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Here's how Next Generation Pension works for you
You’ll subscribe
It’s on you to confirm a monthly contribution to start charging your pension
We’ll invest
It’s on us to invest your contributions and help your savings grow
Time adds its effect
The sooner you start saving, the bigger your money can grow over time – all thanks to compound return
Zero-effort investments
No need to know markets or actively engage – we'll do it for you
Have you postponed saving for your pension because investing felt complex?
With Next Generation Pension, it's on us to craft the portfolio, invest your contributions, and manage your savings.
Based on our strategy, we'll use lifecycle investments that adapt to your age: more risk when you're younger, more safety as you near retirement.
As with all investing, your money is at risk. The value of your savings can go down as well as up. You could get back less than you put in or lose it all.
Results that build confidence
Your pension grows without your involvement – and with competitive results. We'll tailor investment risks to your age, so you can sit back and relax.
Average Next Generation Pension investment results in 2025
Next Generation Pension involves investment risk. The value of your savings can go down as well as up. You could get back less than you put in or lose it all. Past performance doesn't guarantee future performance.
Get a tax refund
You can get back up to 25,5% of your contributions each year
The power of time
The sooner you start, the bigger your pension could be
The more you save, the lower the fee rate
The annual fee rate decreases from 0.7% to 0.3% as your savings grow
No hidden costs – you pay just the management fee
There's no fee for:
- Partially withdrawing your savings
- Terminating your agreement
- Adjusting your agreement
Flexibility at your fingertips
- Choose a contribution amount
Increase, decrease, pause or stop anytime - Access your savings any time
If life twists and turns, you can use your pension savings earlier
Savings payout - Set beneficiaries
Choose who receives your savings if you die during the savings period
Get the best of SEB
We're here to help. Contact us via phone, email, video call or in person.
Questions and answers
Every day, there are a million little decisions you must make. With some, you trust the experts to take the lead. You trust the engineer to build you a house, mechanic to fix your car and hairdresser to cut your hair. We’re here to lighten the load with saving for your pension.
Securing your future doesn’t have to be complicated. With Next Generation pension, we’ll do it all for you.
- Watch your savings grow without the stress of making investment decisions yourself. No need to be a financial expert – with lifecycle investing, we’ll switch from riskier investments to lower risk ones as you age.
- Your only task is to set a comfortable amount to automatically contribute each month. Even small amounts can significantly accumulate over time.
- Trust our experts to invest and manage your contributions keeping your best interest in mind. We’ll regularly update you on your pension income progress on the internet bank.
Next Generation Pension is your personal autopilot working for your future 24/7. We’ll handle all the complexities, so you can just sit back and relax. Securing your future has never been easier.
Keep in mind that you will be the one bearing the investment risk. The value of your savings can go down as well as up. We cannot guarantee the preservation of your contributions.
Investing is complicated. We’re here to take the load off your shoulders. It’s our job to build an investment portfolio for you. We do that based on your age and will adjust it as you age. The idea is to optimize investment risk. When you’re still young, we will take advantage of higher risk investments. As you get closer to retirement, we will lower risk. This way your savings will have time to grow and be better secured from losing their value when you get older.
Keep in mind that investing involves risk. Past performance does not guarantee future performance.
Want to select investment risk on your own? Check out our III pillar pension funds
No, you won’t have to and you won't be able to choose where to invest. That’s what we’ll be doing.
Decide how much to save, and we’ll do all the rest. Our investment team has developed a lifecycle investment strategy, which automatically adapts your investment portfolio to your age by selecting different financial instruments to achieve a balance of risk and return. You won’t need to make any investment decisions.
Want to select investment risk on your own? Check out our III pillar pension funds
Saving with Next Generation Pension is very, very flexible. We’ll do all the heavy lifting with investment decisions, but you’ll have full control over everything else. You can edit your monthly contribution size, contribution date and method. You can top up your savings. If you need, you can pause or cancel your contributions. You decide when to withdraw your savings and who will receive your savings when you’re no longer here. You can do all this in just a few steps – and whenever you decide – on our internet bank, free of charge.
Keep in mind that if you pause or cancel your contributions, we will not stop investing your savings. This means we will also deduct the monthly management fee.
We'll deduct a fair and transparent management fee once per month. This will help us manage and invest your savings for a future-proof retirement. The initial management fee rate is 0.7% per year and it will gradually decrease as your savings increase. Your returns will (hopefully) grow, but your fee rate won’t. Quite the opposite – the more you save, the lower your fee rate will be. We'll deduct the management fee automatically from your savings, so you won't have to make any payments on your own.
The state encourages saving for your pension. When you submit your yearly income tax return, you could get back 22% of what you contributed to your Next Generation Pension savings throughout the year. That’s your money – you can use it however you like. If you want, you can invest it back into Next Generation Pension and continue to grow your savings.
You can withdraw your Next Generation Pension savings whenever you need. These are your pension savings, so make sure whether withdrawing before retirement is the right choice for you. You can withdraw all your savings and terminate your agreement, or you can withdraw just a part of it and continue saving. If you want to withdraw just a part of your savings, you will need to retain at least €100 to keep your agreement going. Keep in mind that you will benefit most if you save regularly until the official retirement age.
If you withdraw your savings earlier, the state might tax the payout.
Don’t worry – your savings will be in safe hands. Your heirs will inherit your savings and additional sum insured of €1. If you want someone else to receive your savings, you can set one or multiple people as beneficiaries. In total, you can have up to 10 beneficiaries. It’s for you to decide how much of your savings each beneficiary gets. You can change your beneficiaries and edit their share of your savings any time in the internet bank.
Data from the finance company MSCI shows that in the long term, the return rate of savings exceeds the inflation rate. In the example below, you can see the historic performance of the MSCI ACWI index that tracks nearly 3000 stocks in 47 developed and emerging market countries. To beat inflation, it’s important to stick to long-term saving. That’s how you’ll ride out short-term market downturns and inflation rates that accompany it.
100% equity portfolio
| Anualized result | 1 year | 3 year | 5 year | 10 year |
|---|---|---|---|---|
| MSCI ACWI (EUR) return | 19.23% | 9.03% | 11.68% | 11.07% |
| Inflation in Latvia | 0.70% | 8.75% | 5.69% | 3.43% |
| Adjusted to inflation | 18.40% | 0.26% | 5.67% | 7.39% |
Information is shown for illustrative purposes only and is based on theoretical assumption and does not give the right of claim. As with all investing, your money is at risk. The value of your savings can go down as well as up. You could get back less than you put in or lose it all. Past performance does not guarantee future performance. We provide historical returns, expected returns and probability projections only for informational and illustrative purposes. These may not reflect actual future performance.
With Next Generation Pension, we follow the United Nations principles for responsible investing. This type of investing prioritizes optimal environmental, social and governance (ESG) factors or outcomes.
These instruments exclude or reduce exposure to controversial sectors, such as fossil fuels etc.
A bigger pension – and the chance to enjoy today‘s lifestyle in retirement – are both within reach.
Are you ready to take the first step?
The service provider and distributor is SEB Life and Pension Baltic SE, registration number 40003012938. All mentions of SEB or We on this page refer always only to our life insurance company.
The information on this website is about unit-linked life insurance service. We do not provide personal recommendations or instructions to invest when offering and selling this insurance product. We do not provide financial advice.
We rely on information from various sources we believe to be reliable, including clients and third parties. We cannot guarantee the accuracy and completeness of this information. You should not view this as an offer to buy or sell any security.
The tax treatment of your investment will depend on your individual circumstances and may change in the future. We do not provide tax advice.
Next Generation Pension involves investment risk. The value of your savings can go down as well as up. You could get back less than you put in or lose it all. Past performance does not guarantee future performance. We provide historical returns, expected returns and probability projections only for informational and illustrative purposes. These may not reflect actual future performance. The calculation is a forecast based on theoretical assumptions and does not give the right to claim.
You will bear all investment risk. Before you start saving with Next Generation Pension, familiarise yourself with the product's detailed information and investment strategy. If you need more information about Next Generation Pension, you can contact us at +371 67079800 or sign up for consultation.
Any disputes between us are settled by negotiations. If no agreement is reached these are being looked at in out-of-court dispute resolution entities or in the courts of the Republic of Latvia. For detailed information, see our complaints handling procedure (PDF).
