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3rd pension pillar

3rd pension pillar

Take care of your pension yourself, invest in 3rd pension pillar and enjoy the benefits:

 

  • You decide the frequency and amount of contributions
  • Possibility to get a 25.50% personal income tax refund on contributions*
  • Receive your savings from the age of 55
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Consultation

Luminor 3rd pension pillar benefits

25.50% refund on contributions made*

Receive your savings from the age of 55

The accrued capital can be inherited

Determine the frequency and amount of contributions yourself

Opportunity to engage in development of sustainability**

*Personal income tax relief for the amount not exceeding 10 % of gross yearly salary (together with the premiums of life insurance with savings), but not exceeding € 4 000. Example: From every € 100, receive € 25.50 tax relief.
**By saving for retirement with the pension plan Luminor Sustainable Future 16-50 index, you not only take care of your future well-being, but also support companies that have taken it upon themselves to promote the well-being of our planet.

As of February 29, 2024, the names of 3rd pillar pension plans have been changed:
  • Luminor Index pension plan Sustainable Future becomes Luminor Sustainable Future 16-50 index 
  • Luminor Progressive Pension Plan becomes Luminor Future 50-55 
  • Luminor Balanced Pension Plan becomes Luminor Future 55+ 
The new names more accurately reflect the recommended age group for which each pension plan is most suitable. The names of the pension plans have been adjusted assuming that supplementary pension capital will be accumulated until the age of 65.
 
By changing the names, we are introducing a life cycle approach to Luminor's 3rd pillar pension plans, so that it is simple and understandable for customers to make the most suitable choice and to make the most of the opportunities given by the financial market to increase capital for personal savings for old age.
 
You always have the option to adjust your pension plan according to your preferences, the planned age for utilizing the accumulated capital, as well as your willingness to take on investment-related risks.

Choose the most suitable savings strategy for you

  • If you plan to save for at least 10 years or more
    pension plans with a high proportion of investments in equities are the best choice. These plans are subject to higher financial market volatility, but historical data show that they are the most profitable over the long term. 
  • As the planned time of withdrawal of the accumulated funds approaches
    in order to reduce the potential negative impact of stock market volatility on the supplementary pension fund, the proportion of investments in equities should be gradually reduced and the proportion of investments in fixed-income financial instruments increased.

Age Maximum proportion of equities* Pension plan / strategy**
16 - 50 years 100 % Luminor Sustainable Future 16-50 index
50 – 55 years 75 % Luminor Future 50-55
From 55 years 25 % Luminor Future 55+

*Proportion of equities - the maximum limit for investing pension plan funds in equity securities - company stock and other similar types of investments.
**You can choose to make contributions to one or more pension plans depending on your investment maturity and the most suitable proportion of stock.

Choose a pension plan:

Potentially high returns with significant capital fluctuations during accumulation. A suitable choice if the planned savings period is at least 15 years.

  • Up to 100% of the plan assets are invested in equity index funds
  • The plan invests in funds with higher ratings of environmental, social and corporate governance (ESG) factors than the market as a whole, thus supporting sustainable business.

Find out more about the index pension plan Sustainable Future

Potentially high returns with significant capital fluctuations during accumulation. A suitable choice if the planned savings period is at least 10 years.

  • Up to 75% of the plan assets are invested in equities
  • The plan invests in both international financial markets and funds of the Baltic countries

Stable capital growth with small capital fluctuations during accumulation. A suitable choice if the planned savings period is shorter than 10 years.

  • Up to 25% of the plan assets are invested in equities
  • The plan invests in both international financial markets and funds of the Baltic countries

Pension plans` performance

Learn more

Useful links

Pension plan applications
About contributions to pension plans
Accounts for contributions and bank account specification
Pricelist
Basic information for pension plan members
Sustainability-related disclosures

Luminor 3rd pillar pension plans are administered by Latvijas atklātais pensiju fonds, reg. No. 40103331798, Skanstes iela 12, Rīga, 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. The supervisory authority of Luminor Latvijas atklātais pensiju fonds AS is Latvijas Banka.
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.
Luminor Latvijas atklātais pensiju fonds AS (hereafter - Pension Fund), informs that pursuant to the Clause 29 sub-clause (7) of the Law on Private Pension Funds, the engagement policy and voting rights on behalf of Pension Fund implements manager of funds - Luminor Asset Management IPAS, which engagement policy is available here.