Pension accumulation

How will you live after reaching retirement age? Will you relax, travel, spend more time for your hobbies? Such future is possible, only take care of it right now, regardless of the fact that the pension is still far away. Especially since the market offers measures you can use to create the financial basis necessary for comfortable retirement.

Current penssion system

Currently employed people paying contributions are guaranteed pensions by the state social security system. The residents have the opportunity to accumulate pension not only in Sodra but also in private 2nd and 3rd level pension funds. The people, participating in the pension accumulation funds, will receive pensions from two sources: from Sodra and the pension fund (s).

Details of pension accumulation system are introduced on website of LR Ministry of Social Security and Labour www.pensijusistema.lt.

Distributed pension funds

Currently distributed by Šiaulių bankas pension funds 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. For more information on pension funds:

Where to apply for pension accumulation in these funds?

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

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

Money of pension funds is invested in accordance with the investment strategy as per pension fund rules.

In the case of participation in the pension funds, you will have to pay the fees provided for in the chosen pension fund rules.

2nd level pension funds are applied pension contribution, asset management fees. As well as the pension fund's assets may be used to cover the currency exchange costs.

3rd level pension funds are subject to contribution, asset management fees. Also the pension fund assets can be used to cover depository, transaction, foreign exchange and other expenses. When changing the pension fund, leaving fee may apply.

Sodra old-age pension for 2nd level pension system participants is reduced pro rata according to the law.

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

In the case of accumulating money in the pension funds, the investment risk is borne by the pension fund participant: pension 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 fund's investment-related risks can be found here.

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

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

We recommend you to responsibly and carefully choose the pension fund, pay attention to the risks associated with investments, applied deductions as well as to carefully read the rules of the pension fund, which are an integral part of the pension accumulation contract.

All of the information is of a promotional nature. It cannot be interpreted as a recommendation, offer or invitation to accumulate money in INVL Asset Management-managed pension funds. The information provided herein 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.