3rd Pillar Pensions

After retirement the guaranteed support will compensate your usual income only partly.

Luminor 3^rdPillar Pensions provide the possibility to ensure that your income after retirement does not decrease significantly. Moreover, contributions to a pension fund will qualify for essential tax reliefs already now.

Why is it beneficial to save using the 3^rd Pillar Pension plans:

Resident income tax breaks the contribution amount if it does not exceed 10 % of the annual gross wage (together with life insurance savings premia) and does not exceed 4 000 euro
Amount and frequency of contributions is not limited
Possibility to invest in one or both pension plans
Possibility to access the accumulated assets upon reaching the age of 55
Assets accumulated in 3rd Pillar Pension scheme are inheritable

Progressive Pension Plan:

Up to 75% of the assets are invested into equities, namely – stocks and other similar means of investment. The remainder will be invested in fixed-income financial instruments: bonds, deposits of credit institutions.
Such investment strategy is suitable for the individuals who expect potentially high return and can accept significant asset fluctuations. This is a pension plan with very dynamic investment strategy.

Balanced Pension Plan:

Up to 25% of the assets are invested into equities, namely – stocks and other similar means of investment. The remainder will be invested in fixed-income financial instruments: bonds, deposits of credit institutions.
This investment strategy is suited to individuals, who are looking for relatively safe and stable, but modest return.

Annual Reports

2018

In Latvian
Luminor Latvian Open Pension Fund JSC Annual report for 2018
Pension plan Luminor Progressive pension plan Annual report for 2018
Pension plan Luminor Balanced pension plan Annual report for 2018

2017

In Latvian
Luminor Latvian Open Pension Fund JSC Annual report for 2017
201Pension plan Luminor Progressive pension plan Annual report for 2017
2Pension plan Luminor Balanced pension plan Annual report for 2017

Apply

Apply for 3^rd Pillar Pension scheme at any Customer Service Center

Make a transfer

Make a transfer to the account specified in the agreement; indicate your individual membership agreement number

Create a standing order

Create a standing order for not to forget to make the pension contributions

Useful links

Managers reports 2019
Ieguldījumu politika - Luminor Progresīvais pensiju plāns
Ieguldījumu politika - Luminor Sabalansētais pensiju plāns
Pensiju prospekts - Luminor Sabalansētais pensiju plāns
Pensiju prospekts - Luminor Progresīvais pensiju plāns
Uzkrātā papildpensijas kapitāla aprēķināšanas, izmaksāšanas un pārskaitīšanas noteikumi
The procedure for handling of customers’ complaints
Luminor 3rd Pillar Pensions: unit values, performance, charts
Luminor 3rd Pillar Pension Participation Agreement

Luminor 3^rd pillar pension plans are administered by Latvijas atklātais pensiju fonds, reg. No. 40103331798, Krišjāņa Valdemāra iela 62, Riga, LV-1013, and is managed by Luminor Asset Management IPAS, Skanstes iela 12, Rīga, LV-1013. The custodian bank is Luminor Bank AS Latvian branch.

Disclaimer

Before choosing the specific pension plan you should consider the following risks:

the more investments thereunder are being made into stocks and other instruments comparable to them the more risk of income fluctuation this entails (both to positive and negative direction);
historical income results generated by specific pension plans do not guarantee the same results in the future;
choose the pension plan with active investment strategy only if you understand the risks it entails and can financially bear them;
the closer you are to the retirement age the more conservative pension plan would be the best option for you.