You have the option to receive a 25.5% personal income tax (PIT) refund on contributions made to 3rd pension pillar savings and life insurance with savings (including the Next Generation Pension), which does not exceed 10% of your annual gross income and are no more than EUR 4000 per year.
To receive the PIT refund:
- For life insurance with savings (including a Next Generation Pension), contract must remain in force for at least 10 years.
- The 3rd pension pillar savings can be received from the age of 55. To retain the applicable tax refund, contributions to 3rd pension pillar funds cannot be withdrawn for 2 years.
Please note that the provided tax information is based on currently applicable regulatory acts; the tax legislation can change over time. The tax result may differ on a case-by-case basis.
You cannot recover personal income tax from contributions in 3rd pension pillar or life insurance made by an employer on behalf of an employee because tax benefits are already applied when making the transfer from the work place.
You can supplement the savings in internet bank or at SEB customer service points.
Make a contribution to Next Generation Pension
Make a contribution to 3rd pension pillar
Make a contribution to life insurance
How to receive tax benefit?
As of March 1, submit the annual income declaration:
- In Electronic Declaration System (EDS) of the State Revenue Service (SRS) or
- Customer service centre of SRS.
If you choose to submit the declaration electronically, the aggregate amount of your contributions will be visible as SEB pension fund and SEB Life and Pension Baltic SE send information about your contributions in 3rd pension pillar or life insurance, including Next Generation Pension, in previous year electronically to SRS until February 1 of each year.
In the declaration you will have to specify the account to which you want to receive the individual income tax refund.
Find out more about tax benefits in State Revenue Service webpage (LAT).
