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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 calculator
- Contributions
- Pension plan selection
- Tax incentives
- Customer benefit programme
- Price list
- Changes
Pension savings calculator
Savings calculator gives your personal pension prognosis and helps you to plan amount of savings to get your desired pension.
Your pension result:
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.
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With standing order |
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Via internet bank |
Requisite information for contributions: Recipient: AS "SEB atklātais pensiju fonds" Reg.No 40003485047 SEB-Balanced plan: LV02UNLA0001100400100
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| 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.
3rd pension pillar savings are formed from your contributions which are made according to the pension pillar selected by you.
When signing the Agreement on 3rd pension pillar, you must select the pension plan determining amount of contributions in SEB pension fund and choose between two pension plans: SEB-Balanced plan and SEB-Active plan.
| Pension Plans | SEB-Active | SEB-Balanced |
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| Number of years to retirement | More than 10 years | Less than 10 years |
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Risk level The more time is left until retirement age, the higher risk you can assume in connection with the selected pension plan. |
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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.
You can get your personal income tax refund in the amount of 20% from the contributions made in 3rd pension pillar not exceeding 10% of your gross annual income (salary before taxes). You will receive the reclaimed amount on your current account, and you can redirect it to the existing savings by increasing the amount of your savings.
What tax benefits are available?
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%.
Calculate the prospective tax refund in the Tax benefit calculator
How to receive tax benefit?
As of March 1, submit the annual income declaration:
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Specify the total amount of contributions in 3rd pension pillar and/or life insurance on the 9th line of declaration’s form D. If you choose to submit the declaration electronically, the aggregate amount of your contributions will be visible as SEB pension fund and SEB life insurance 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. |
Can I get tax incentives if the savings are built by my employer in my favour?
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.
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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)EURYour yearly deposits in:
Life insurance with savingsIt 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”.EURPension III pillarIt 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 amount300 EUR - - Amount deposited this year220 EUR - - Additional tax amount to recieve300 EUR - - Additional amount still possible to deposit to receive tax refund
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:
- Life insurance with accumulation of funds (for a period of at least 10 years).
- Life pension insurance.
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.
3rd pension pillar agreement fees from assets of the pension plan per annum 1
| Services | Fees |
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| 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
| 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.
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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.
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Total (per annum) |
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| SEB Standard customer | 0.1% | 0.4% | 0.9% | 1.4% |
| SEB Silver level customer | 0.1% | 0.4% | 0.7% | 1.2% |
| SEB Gold level customer | 0.1% | 0.4% | 0.4% | 0.9% |
| Customer of the European Commission | ||||
| Customer with 3rd pension pillar savings of 100 000 EUR or more | 0.1% | 0.35% | 0.3% | 0.75% |
| Solidarity tax payer | ||||
| SEB Private Banking customer | ||||
| For customers, whose contributions to the 3rd pension pillar are made by the employer | ||||
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.