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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
 
 

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


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.

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
 

SEB-Active plan

SEB-Balanced plan

Number of years to retirement More than 10 years Less than 10 years

Risk level

The more time is left until retirement age, the higher risk you can assume in connection with the selected pension plan.

  • Significant fluctuations of the capital may be observed in the short term
  • Investments in shares up to 50%
  • Moderate capital increase in the long term
  • Investments in shares up to 25%

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.

You can calculate your tax allowance options in the Tax calculator.

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:
  • In Electronic Declaration System (EDS) of the State Revenue Service (SRS) or
  • Customer service centre of SRS.

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.

Find out more about tax benefits (LAT)

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.

Find out more about contributions

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.

Services Fees
Conclusion of agreement Free of charge
Change of instalment sum Free of charge
Change of pension plan Free of charge
Disbursement of savings Free of charge
Deductions to the Financial and Capital Market Commission (from each instalment) 0%1

Commission fees from accumulated capital (% annually):

To the pension fund – AS „SEB atklātais pensiju fonds"
Commission fee:
   •  in accordance with the amount of savings at SEB pension fund:
        -  1 – 99 999 EUR 0,9%
        -  100 000 EUR and more 0,3%
   •  for participants of the SEB bank Customer Benefit Programme:
        -  Silver Customers 0,7%
        -  Gold Customers 0,5%


If the Participant of the 3rd Pension Pillar conforms to several criteria, a lower commission fee rate is applied.

0,9-0,3%
        To the asset manager – IPAS „SEB Investment Management"2 0,6%
        To the asset holding bank – AS „SEB banka” 0,1%
        Limit for commission fees from the pension plan assets per year 1,6%

 


 

1 Starting from 1st of January 2016 deductions for Financial and Capital Market Commission are covered by Pension Fund.

2 The commission fee will be reduced by 25% if customer uses at least one other pension savings product offered by the SEB Group administrated by SEB Investment Management: life insurance with saving of funds for at least 10 years or Lifetime pension insurance. If the amount of customer’s savings in SEB Pension Fund is 100 000 EUR or more, the commission rate for the asset manager is 0,35%.

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