2nd level pension funds

2nd level pension funds accumulate money transferred by Sodra from your social insurance contributions paid by your employer: you do not need to transfer money yourself. Money transferred to these funds is invested.

Amount of the contributions transferred to the pension fund

Amount of the contributions is set by the state in the pension accumulation regulating legislation. For all 2nd level pension participants applies the same level of contributions.

During the reform which took place in 2013, the country's population, participating in pension accumulation, were given the opportunity to choose whether they want themselves to contribute to the accumulation by paying additional contributions to the pension accumulation account. For the people who choose this opportunity, the state assigns an additional incentive contribution tied to the average wage in the country.

More about amount of the contributions

Pension benefits

2nd level funds accumulate the retirement pension, so benefit from the pension fund can only be received after reaching the retirement age: the same as for social security pension.

For the money accumulated in the pension funds, after reaching a certain amount, you will be required to purchase a periodic pension benefit payable for life, the pension annuity. Pension annuity is mandatory when calculated amount of the pension fund participant’s basic pension annuity is no less than half of the state social insurance basic pension (at present the basic pension is EUR 108, half pension is EUR 54).

Pension annuity payments will be paid by the life insurance company, with which you draw the annuity contract. The accumulated amount will be credited to the account of this company, and the company will commit to pay you the agreed amount of the annuity for life.

Whether after death the unpaid amount can be inherited, will depend on the type of annuity you choose: with or without succession. Find more about the pension annuity on Lithuanian bank's website.

The money accumulated in the fund will be available for those residents, who are assigned the pre-retirement pension under the Lithuanian Law on State Social Insurance Old Age Pension Pre-payment.

More about pension benefits

Distributed 2nd level pension funds

Pension funds distributed by Šiaulių bankas are managed by the asset management company INVL Asset Management, owned by Invalda INVL, one of the leading asset management groups in the Baltic countries. This group companies also manage investment funds, alternative investments, individual portfolios, private equity and other financial instruments.

We you recommend to select the pension fund with regard to your current age, and INVL Asset Management will take care of timely changing the fund after age changing:

2nd level pension funds




  • If you are 16 to 46 years old, we recommend you to choose the fund which invests up to 100 per cent of money in equities.
  • The main fund's investment objective is the maximum long-term return on the fund's investments. The fund's assets are invested in equities and related investments.
  • The fund is recommended for young (from 16), or those seeking to maximize profitability and assuming high risk individuals.


  • If you are 47 to 52 years old, we recommend you to choose the fund which invests up to 50 per cent of assets in equities and related investments, as well as at least half of the assets it invests in governmental and central bank-issued or guaranteed bonds, bank deposits and corporate bonds.
  • The main fund's investment objective is to achieve returns higher than the average taking a moderate risk.


  • If you are 53 to 57 years old, we recommend you to choose fund which invests up to 30 per cent of assets in equities and related investments, and no less than 70 per cent in the governmental and central bank-issued or guaranteed bonds, bank deposits and corporate bonds.
  • The main fund's investment objective is even growth both in the short term and in future.
  • The fund is recommended for the individuals assuming low risk.


  • If you are 58 years and above, we recommend you to choose fund whose assets are invested in the debt securities issued or guaranteed by Lithuanian, European Union, the Economic Co-operation and Development Organization governments, central banks or the European Central Bank and commercial bank deposits.
  • The main fund investment principle is to keep low investment risk ensuring stable growth in the value of assets.
  • It is recommended for risk avoiders.

Please note that it is necessary to read carefully the chosen pension fund rules, to assess the risks associated with investments (PDF) and to familiarize with the applicable taxes.

How to become a participant in pension accumulation system or to change the pension fund?

It is easy to become a pension scheme participant: just sign a pension accumulation contract with the pension accumulation company. If you have already signed the 2nd level pension accumulation agreement, you can change the management company by selecting one of the INVL Asset Mangament-managed pension funds.

It is most convenient to fill in the inquiry form, and appropriate specialist will contact you.

For more information, please call 1813 (+370 37301337 when calling from abroad).

Pension fund assets are invested in accordance with the strategy established in the pension fund rules.

When participating in the pension funds, you will have to pay the fees as per rules of the chosen pension fund.

2nd level pension funds are applied pension contributions, asset management fees. Also, the pension fund's assets may be used to cover the exchange costs.

For those participating in the 2nd level pension system Sodra’s old-age pension is reduced according to the law.

2nd level pension contract cannot be terminated except for the 2nd level pension accumulation agreement entered into for the first time, which the participant has the right to unilaterally terminate within 30 calendar days from entering into upon written notice to the pension scheme company.

During accumulation in the pension funds, the investment risk is borne by the pension fund participant: pension scheme company does not guarantee investment profitability. Pension fund’s past performance does not guarantee future results and is not a reliable indicator of future results. As the value of the pension fund can both rise and fall, you can get back less than you invested. More information about the pension funds’ investment-related risks can be found here.

We recommend, seven and less years before retirement, to consider investing in a conservative investment pension fund.

More information about the pension accumulation can be found at www.pensijusistema.lt; www.sodra.lt; www.lb.lt.

We recommend you to responsibly and carefully choose the pension fund, to pay attention to investment-related risks involved, deductions applied as well as to carefully read the rules of the pension fund, which are integral part of the pension contract.

All of the information is of a promotional nature that cannot be interpreted as a recommendation, offer or invitation to accumulate funds in UAB INVL Asset Management-managed pension funds. The information provided cannot be the basis for any later concluded transaction. Šiaulių bankas AB is not responsible for your decisions taken on the basis of the information contained herein.