2nd pension pillar
The accrual in the 2nd pension pillar is formed as a part of your and your employer's social insurance contributions. Every month, 5% of your gross salary is automatically directed to the savings. No additional payments need to be made. Choose a responsible pension manager and the most suitable investment plan for you.
Next Generation Pension
Planning of pension savings does not have to be difficult or daunting. Additional pension savings can increase your retirement income and provide better financial opportunities in the future. Here’s why saving for your pension with the Next Generation Pension is a smart choice:
- Simple Solution. Just a few clicks and you’re on your way towards a better pension.
- Balanced Investments. We will invest your savings prudently, adjusting the investment risk to your age.
- Management Fee. The more you save, the lower the management fee rate will be.
- Our Support. We will inform you about the results and share valuable tips for you to follow the growth of your pension.
The service provider and distributor is SEB Life and Pension Baltic SE. The insurance agent AS "SEB banka" is also a distributor of this service.
No recommendations are made when distributing this product. Read more about the product in Key Information Document (PDF, LAT) and other product documents.
3rd pension pillar
Voluntary savings in the 3rd pension pillar are a convenient and flexible solution for securing your future. You are free to choose the pension plan, the amount and regularity of contributions, thus creating the most suitable solution for creating the savings. By accumulating pension in the 3rd pension pillar, you will be able to receive tax relief for the contributions made to the savings. You will be able to receive the accumulated capital from the age of 55.
Why save for a pension?
In the current pension system, 1st and 2nd pension pillars will provide about half of the current income,* so it is important to start saving in addition to your pension in time to maintain your current standard of living.
*Source: manapensija.lv
At the same time, life expectancy is increasing, which means that more and more time will be spent in retirement years, thus increasing the role of savings in ensuring financial stability in retirement.
By actively tracking your savings, you can influence how your savings grow in the long run and plan your retirement better.
The sooner you start saving, the less you have to put aside each month to get the results you want.
You may also find it beneficial
Calculate Pension Forecast
Wondering what your future pension might be?
- Evaluate the potential size of your pension based on your current contributions, age, and employment status.
- Discover your financial future forecast.
- Make smart and realistic decisions about your desired pension.
- Simple and easy to use anytime.
Your Personal Pension Page
All you need for retirement planning:
- A good overview of your pension assets.
- Future pension calculator.
- Expert advice to find the best saving strategy.
- Quick and easy options to adjust your saving plans.
How Pension System Works
How does Latvia’s pension system supports a secure retirement with three integrated pillars?
- 1st pension pillar: The main state pension.
- 2nd pension pillar: Additional pension savings based on individual contributions and state incentives.
- 3rd pension pillar: Voluntary contributions for supplementary savings.
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Do you have any questions about pension savings?
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