Are you ready, if your income drops by 60 %? | Luminor

3rd Pillar Pensions

According to the forecast of the Central Bank of Latvia*, the savings in the 1st and 2nd pension pillars combined will be able to ensure no more than 40 % of your average income. This means only € 400 instead of € 1 000.

Start saving now! In addition to the state-provided pension capital, make your own contributions to 3rd pillar pension.


20 % repayment for the contributions you made*

Receive your savings from the age of 55

The accrued capital can be inherited

Stable long-term performance**

Determine the frequency and amount of contributions yourself

Choose the amount to achieve your goals
Examples for estimates of the accrued pension capital at the age of 65 if you begin your savings at the age of 18, 24, 29, 32, 38, 44, 46, 52 or 60, €

Your monthly
payment ***
29 years 38 years 46 years 52 years
€ 30 30 325 18 043 8 329 5 343
€ 50 50 541 30 072 13 883 8 906
€ 100 101 083 60 145 27 766 17 812
***Calculations were performed by Luminor Latvijas atklātais pensiju fonds AS taking into account the indicated amount of monthly contributions and the investment period from the indicated age to 65 years of age. The expected average annual return of 4,25 % is based on the following portfolio: 80 % MSCI World (5,1 % historical average annual return for the period from 31.12.1987 to 30.04.2020) and 20 % Bloomberg Barclays Global Aggregated Bond (as at 11.09.2020, yield to maturity 0,9 %). The forecast of accumulated capital is calculated on the basis of cumulative growth, without taking into account commissions and possible income tax deductions that may be applied when receiving the amount of savings. The amount of the savings and the expected return are theoretical assumptions and cannot be considered as a guarantee.

Pension plans` performance

Useful links

Pension plan applications
Accounts for contributions and bank account specification
Basic information for pension plan members

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.
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.