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3rd pension pillar

3rd pension pillar

  • Supplement your savings with amounts and at times you can afford – regardless of your income level
  • Contributions are invested to increase the value of savings in a long-term perspective
  • Obtain your savings starting from the age of 55

Pension savings calculator

Savings calculator gives your personal pension prognosis and helps you to plan amount of savings to get your desired pension.

Your age
years
 
 
Your monthly net salary
EUR
 
 
Monthly pension you would like to get
EUR
 
 

 

Are you 2nd pension pillar participant?
 

Your pension result:

 
  • 0 EUR - Your desired pension

  • 0 EUR - Your estimated pension

Correct your pension savings data

 

Fill in the amount that you would be able to save each month to increase your pension
EUR
 
 
3rd pension pillar pension plans
  SEB-Balanced plan SEB-Active plan SEB-Index plan
Pension plan risk level Medium risk Medium high risk High risk
Investment strategy
  • To provide stable and yet sufficiently dynamic growth of the pension capital in the long term.
  • Not more than 25% - shares with growing market value and alternative investments.
  • At least 75% - in fixed income securities of low risk.
  • To ensure higher pension capital over a longer period of time by using higher risk investments.
  • Up to 50% in shares with a high market value and alternnative investments
  • No more than 50% in fixed income securities of low risk.
  • To promote the long-term growth of pension capital by investing up to 100% of the plan's assets in instruments linked to stock market indices.
  • The principal financial risks of investing plan assets are currency exchange and price fluctuation risks.
Who is it suitable for? Less than 10 years are left until you reach the state old age pension. More than 10 years are left until you reach the state old age pension. More than 20 years are left until you reach the state old age pension.

It is not recommended to change your pension plan frequently; however, as the age of retirement approaches, be advised to re-evaluate your wish to assume risks and, probably, apply for a lower risk pension plan.

Our competitive management fee helps to grow your savings in the long-term;

Information on your 3rd pension pillar savings is easily accessible in your SEB internet bank;

SEB supports responsible investments. When saving in 3rd pension pillar you invest in environment friendly and sustainable companies.

How to start savings in SEB pension fund?

3 steps to begin building up savings:

  • Step 1. Sign the Agreement on 3rd pension pillar in internet bank or nearest branch of SEB bank, by bringing a passport or ID card with you.
  • Step 2. Deposit the amount you want to redirect to savings, or setup a standing order agreement.
  • Step 3. Keep track of your savings amount and supplement it in your internet bank.

Contributions

The minimum amount of contributions, regularity and term are not defined. The amount of 3rd pension pillar savings depends on your individual contribution, as more regular contributions provide larger private pension.

With standing order

  • This is the most convenient way of making contributions - the amount you want to deposit into your savings from your current account will be automatically transferred to your pension savings in 3rd pension pillar with the regularity set by you.
  • You may create a standing order in the internet bank both during the Agreement period and concurrently with signing the 3rd pension pillar Agreement.
  • You can create the standing order in every branch of SEB bank.


Important! While making contributions through the standing order you may complement your savings with extraordinary contributions too.

Via internet bank

Requisite information for contributions:

Recipient: AS "SEB atklātais pensiju fonds"

Reg.No 40003485047

SEB-Balanced plan: LV02UNLA0001100400100
SEB-Active plan: LV18UNLA0001100400200
SEB-Index plan: LV79UNLA0055002043340


Specify your name, surname and personal code or agreement number in the payment objective.

In branch of SEB bank By presenting a passport or ID card.

In case of questions, please call us +371 67215681 (on working days from 9:00 to 17:00) or leave your contact info and we will get back to you.

For 3rd pension pillar contributions and life insurance with savings (with a minimum contract period of 10 years), which does not exceed 10% of your gross annual income (and not more than 4 000 EUR a year), you have the option to reimburse personal income tax 20%.

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 any SEB branch.

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 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 (LAT)

 

  • Tax refund calculator

    Calculate how much you can get back in tax refunds by making deposits in III pension pillar or in Life insurance with savings account


    Your monthly salary (before tax)
    EUR

    Your yearly deposits in:

    Life insurance with savings
    It is possible to view the amount of you contributions in your internet bank . Open the menu “Savings/Pension” and section “Life insurance”, then click on the agreement number and select the sub-section “Overview of applications and changes”.
    EUR
     
    Pension III pillar
    It is possible to view the amount of you contributions in your internet bank. Open the menu “Savings/Pension” and section “3rd pension pillar”, then click on the name of the relevant pension plan and select the sub-section “Pension plan history”.
    EUR
     
  •  
     
     
    300 EUR - - Currently receivable tax amount
    300 EUR - - Amount deposited this year
     
    220 EUR - - Additional tax amount to recieve
    300 EUR - - Additional amount still possible to deposit to receive tax refund
The calculation of the tax relief amount is made in accordance with the provisions of the Law "On Personal Income Tax". In each individual case it might be different.

3rd pension pillar agreement fees from assets of the pension plan per annum 1

Services Fees
Entering into the Agreement Free of charge
Changing a pension plan Free of charge
Change in the amount or period of contributions Free of charge
Receipt of savings Free of charge

For customers, who make individual payments to the 3rd pension pillar

Pension plans Client group To the Asset Holder
AS “SEB banka” carries out transactions and accounting of contributions to the client's pension plan account, ensures that the Asset manager complies with investment strategies and performs safe investments.
To the Asset Manager
IPAS “SEB Investment Management” provides investments of contributions according to the pension plan to increase savings in the long term.

The agreement fee is reduced by 25% if the client uses at least one other pension savings product offered by the SEB Group, the asset manager whereof is SEB Investment Management: Life insurance with a saving of funds for at least 10 years or Lifetime pension insurance.
To the Pension Fund
AS "SEB atklātais pensiju fonds" provides accounting of the deposited funds to the pension plan participant’s individual savings account. Provides customers with regular information on savings and customer service. Executes operations with savings at the customer's request. Provides information to state supervisory authorities.
Total (per annum)
SEB-Balanced
SEB-Active
SEB Standard customer 0.08% 0.4% 0.85% 1.33%
SEB Silver level customer 0.08% 0.4% 0.7% 1.18%
SEB Gold level customer 0.08% 0.4% 0.20% 0.68%
Customer of the European Commission
Customer with 3rd pension pillar savings of 100 000 EUR or more 0.08% 0.35% 0.20% 0.63%
Solidarity tax payer
SEB Private Banking customer
SEB-Index plan SEB Standard customer 0.05% 0.25% 0.85% 1.15%
SEB Silver level customer 0.05% 0.25% 0.7% 1%
SEB Gold level customer 0.05% 0.25% 0.20% 0.5%
Customer of the European Commission
Customer with 3rd pension pillar savings of 100 000 EUR or more
Solidarity tax payer
SEB Private Banking customer

1 If the customer complies with several groups, the lowest contract fee is applied. If the client makes both individual contributions and the contributions for the benefit of the client are made by the employer, one contract fee is applied – the lowest.

2 After the employment relationship has ended collective agreement participants, whose employer made contributions in the 3rd pension pillar on behalf of the employee, will receive the Customer benefits programme’s Gold level customer commission fee.

 

3rd pension pillar customers, who use another SEB pension accumulation product can receive a discount of 25% for the fund management commission in 3rd pension pillar.

The discount may be applied to 3rd pension pillar customers using at least one of the following SEB products:

The discount will apply automatically and will appear in the 3rd pension pillar account statement. The discount is not cumulative - if a customer has two or three pension accumulation products, the discount will be applied only once.

If you have any questions, please contact us by calling: +371 67215681.

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