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Receiving the 3rd pension pillar savings

You can receive your 3rd pension pillar savings from the age of 55, but you can continue to participate for as long as you like, increasing your accrual even more.

It is possible to receive the savings before the age of 55:

  • if the participant is granted permanent group I disability for life;
  • if the participant works in a profession, where earlier receipt of the private pension is entitled (Cabinet of Ministers regulation No. 47, 21.01.2014).

How to apply for the savings pay-out?

After reaching the age of 55, it is possible to apply for the 3rd pension pillar savings pay-out in the following ways:

  • by applying for the 3rd pension pillar savings pay-out via SEB internet bank;
  • by filling out the pay-out application form (LAT) electronically, signing it with an electronic signature and sending it to (this form can only be submitted with an electronic signature);
  • if you are not a SEB internet bank user, you can submit this form via the website: e-document signing, where you can sign up with the qualified Smart-ID;
  • in person – at a branch of SEB.

If the customer meets the conditions for receiving the savings before the age of 55, the application for pay-out can only be submitted at a branch of SEB.

What taxes are withheld when savings are paid out?

When the pay-out is made, no tax is withheld on individual contributions.

  • The profit share is subject to withholding capital gain tax (in the amount of 20%).
  • Personal income tax (in the amount of 23%) is withheld from employer contributions.
  • Personal income tax (in the amount of 23%) is withheld from the solidarity contributions.

Customers that benefit from tax incentives should note that pension contributions must be retained in the fund for at least two years.

Receipt of accrual in case of the participant’s death

The 3rd pension pillar accrual is inheritable:

  • if a Designated person (Beneficiary) has been indicated by the participant, then in the event of death of the participant, this person can receive the accrual;
  • if the participant did not have a Designated person, the accrual is inherited in accordance with the procedure prescribed by the Civil Law.



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