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2nd pension level

2nd pillar pension

2nd pillar pension
  • 5 % of your monthly salary goes into your 2nd pension pillar
  • Choose the investment strategy that will make your pension grow to its fullest potential
Apply for consultation
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Why to choose the Luminor 2nd pension pillar

  • Strong global partnership and local expertise – investments are made in both leading global financial markets and the Baltic State real estate and venture capital funds to support local economy and exceed results from global investments.
  • Diversification – we don’t rely only on US markets, but also look to Europe and developing economies like China to diversify investment portfolios and improve the performance from global investments.
  • A variety of investment strategies – you can choose from six pension plans according to your expectations for return and risk. We combine passive index plans with an active management approach for better performance and lower commissions.
  • Socially responsible investments – our index pension plan Sustainable Future invests in companies that have taken responsibility for implementing environmental, social and governance criteria (ESG).

View your savings

Learn how to save for a better retirement or register for consultation on saving for retirement

Choose your 2nd pension pillar plan

Age New plan name Old plan name Maximum proportion of stocks*
Up to 48 Luminor 16–48 New fund 100 %
From 48 to 53 Luminor 48–53 Luminor Progressive 75 %
From 53 to 58 Luminor 53–58 Luminor Active investment plan 50 %
From 58** Luminor 58+ Luminor Balanced 25 %
From 62 to 65 Luminor 62–65 Luminor Conservative 0 %
Up to 48 Luminor index investment plan Sustainable Future*** Luminor index investment plan Sustainable Future 100%

* Proportion of stock – the maximum proportion for investing pension fund assets in equities – company stock and other similar investment types.
** There is no maximum age limit as this fund can be a suitable investment strategy even up to retirement, provided you accept the increased risk of having fluctuations in the accumulated capital value.
*** We offer two pension plans for the age group up to 48 years. Luminor index investment plan Sustainable Future is a good choice if you want to invest in index funds, which invest in companies that have taken responsibility for the implementation of environmental, social and governance requirements.

Start preparing for old age now!

You can apply for 2nd pillar pension

  • at latvija.lv portal
  • at branches of the State Social Insurance Agency

Applying for the Luminor 2nd pillar pension is easy

Choose your investment fund from the table above

Click the button below – you’ll be redirected to the specific latvija.lv page where you’ll have to log in with your internet bank, read the terms and conditions, and fill in the application

Submit your application

You’ll receive a confirmation via e-mail or SMS 

Apply via latvija.lv

Necessary documents

  • Passport or eID card

Useful links

Choose us as your pension manager!

Apply now

See also: Alternative pension, Programs for customers, Become a customer, Banking packages

Important! State-funded pension plan participants can change their pension fund manager once a year, and change the pension plan with the same fund manager twice a year.

Pension plan prospectuses, as well as other information about pension plans and asset managers may be obtained:
- in the State Social Insurance Agency
- at the fund manager's Luminor Asset Management IPAS, Skanstes St. 12, Riga
- in the custodian bank Luminor Bank AS Latvian branch and its Customer Service Centers, phone +371 6717 1880

Pension plans` performance

Learn more