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How to apply for the Lifetime Pension?

In order to apply for the Lifetime Pension Insurance, a Lifetime Pension Insurance contract must be signed in the insurance company. Before signing of the contract, the client must first go to the State Social Insurance Agency.

3 steps to apply for the Lifetime Pension Insurance

Step 1 Go to the State Social Insurance Agency (hereinafter SSIA)

At SSIA fill out "Application on usage of the accumulated State funded pension capital" and choose "for Lifetime Pension policy purchase" in the menu "I want to use my accumulated capital in the State funded pension scheme for the following purpose".

Important!

  • If your accumulated pension capital in the 2nd pension pillar is equal to or greater than the minimum amount required for conclusion of Lifetime Pension Insurance contract set by the insurance company, SSIA will send you a notification within 10 working days. It will contain information on insurance companies that offer Lifetime Pension Insurance, as well as on the opportunity to receive the accumulated capital together with the State old-age pension.

In order to sign the Lifetime Pension Insurance contract in SEB Dzīvības apdrošināšana, the minimum savings of your 2nd pension pillar must be at least 3 000 EUR.

  • If the accumulated capital is less than the minimum amount required for purchasing the Lifetime Pension policy set by the insurance company, SSIA will add your 2nd pension pillar savings to your State old-age pension.

Step 2 Wait for notification from the SSIA

Once you have received a notification from SSIA regarding the amount of your 2nd pension pillar savings, you will be able to sign the Lifetime Pension Insurance contract.

Important! If SSIA does not receive information that you have entered into a Lifetime Pension Insurance contract within six months after registration of the "Application on usage of the accumulated State funded pension capital", your savings of 2nd pension pillar will be added to the capital of the 1st pension pillar and paid out as the State old-age pension.

Step 3 Enter into a Lifetime Pension Insurance contract

Contact SEB Dzīvības apdrošināšana by calling the information phone 67079800 and advise that you would like to enter into a Lifetime Pension Insurance contract, and you will be provided with a free of charge consultation at the closest SEB branch.

Please bring the following documents to the consultation:

  • a passport or ID card (eID card),
  • statement from SSIA regarding the amount of capital accumulated in the State funded pension scheme or 2nd pension pillar.

If you have any questions, please call 67079800.

I would like an SEB employee to contact me

You will receive a call from the SEB employee to discuss your possibilities to use the Lifetime Pension Insurance.

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