Basic information for pension plan members

 Investment policy – Luminor Progressive pension plan (approved by the FCMC on 04.04.2022) 
 Investment policy – Luminor Balanced pension plan (approved by the FCMC on 04.04.2022) 
 Investment policy – Luminor Index Pension Plan Sustainable future (approved by the FCMC on 04.04.2022) 

We would like to inform you that on January 24, 2022, the Board of Luminor Latvijas atklātais pensiju fonds AS approved changes in the regulations (prospectus) and investment policies of Pension plans, which were registered with the Financial and Capital Market Commission on April 4, 2022. Please find information about the changes here (in Latvian).

 Investment policy – Luminor Progressive pension plan
 Investment policy – Luminor Balanced pension plan
 Investment policy – Luminor Index Pension Plan Sustainable future

 Pension plan prospectus - Luminor Progressive pension plan (approved by the FCMC on 04.04.2022) 
 Pension plan prospectus - Luminor Balanced pension plan (approved by the FCMC on 04.04.2022) 
 Pension plan prospectus – Luminor Index Pension Plan Sustainable future (approved by the FCMC on 04.04.2022) 

We would like to inform you that on January 24, 2022, the Board of Luminor Latvijas atklātais pensiju fonds AS approved changes in the regulations (prospectus) and investment policies of Pension plans, which were registered with the Financial and Capital Market Commission on April 4, 2022. Please find information about the changes here (in Latvian).

 Pension plan prospectus - Luminor Progressive pension plan
 Pension plan prospectus - Luminor Balanced pension plan
 Pension plan prospectus – Luminor Index Pension Plan Sustainable future

Information related to all pension and investment plans:
Statement on integration of sustainability risks into investment process
Transparency of investments underlying pension plans
Information on how remuneration policy is consistent with the integration of sustainability risks
 Summary of the Sustainable Investment Due Diligence policies
 Principal Adverse Impacts Statement (PAIS) from 26.05.2021
 Principal Adverse Impacts Statement (PAIS) from 29.12.2021

Information related to Luminor Index Pension Plan Sustainable Future:
 Information, that shall be provided on the web page (Article 10, Sustainable Finance Disclosure Regulations, SFDR)
 Pre-contractual disclosure for the financial products (referred to in Article 8, paragraphs 1, 2 and 2a, of Regulation (EU) 2019/2088 and Article 6, first paragraph, of Regulation (EU) 2020/852)

The accumulated supplementary pension capital is available for disbursement upon reaching the age of 55

However, it is possible to continue participating in the pension plan and increase the amount of supplementary pension capital until the desired age. The supplementary pension capital is available for participants prior reaching the age of 55 in the following situations:

• you have 1^st group disability for life or
• you have worked at least 10 years in one of the special professions specified in Cabinet Regulations 466.

The accumulated supplementary pension capital can be withdrawn all at once or in installments

After full accumulated capital withdrawal, you can continue contributing and saving or terminate the Individual participation agreement.

There are several ways to apply for accumulated supplementary pension capital

• You can apply in person at the Luminor’s branch.
• If you can sign the documents electronically, you can apply for the capital payment by filling in the web form on Luminor’s website. After the form is filled, the bank’s employee will contact you and send the application for signing to the e-mail address specified in the application
• If for receiving the accumulated capital, it is necessary to submit an additional document confirming the right to receive it, the payment can be made remotely only in case, if the additional document is electronically signed by its issuer (for example, an employer's electronically signed certificate confirming seniority and profession).

The minimum amount of partial capital disbursement is 50 EUR. The disbursement will be done within 10 working days.

Information on taxes and the sequence of capital disbursement

You can withdraw the contributions for which you have used the personal income tax refund in the calendar year after the following year, so that the recovered tax amount does not have to be returned to the state. For example, if you made the contribution in 2020, received tax refund in 2021, you can withdraw this contribution in 2022.

In accordance with the Law “On Personal Income Tax”, personal income tax is deducted at the time of payment by the Pension fund:

• 20% of income from pension plan’s capital investments (profit);
• 23% of the employer's contributions. 

In case of disbursement of the part of accumulated pension capital, the payment is made in the following order:

• participant’s contributions or contributions made on behalf of the participant are paid first, in proportion to the participant's, employer's or other contributions.
• if the amount of contributions is less than the requested pay-out amount, then the income from the investment of pension capital (profit) is paid out.

​ Accumulated supplementary pension capital withdrawal methodology in Latvian

Egagement policy on behalf of Luminor Latvijas atklātais pensiju fonds is executed by Luminor Asset Management IPAS in accordance with the requirements set out in the Funds Management Agreement.

​ Engagement Policy in Latvian
 Asset Manager's Report on execution of Engagement Policy from 01.07.2020 to 30.06.2021 in Latvian
 Asset Manager's Report on execution of Engagement Policy from 01.07.2021 to 30.06.2022 in Latvian

Management company is obliged to act honestly, fairly and professionally in accordance with the best interests of the customers, therefore any fees or commission provided by any third party to the Management company in relation to investment management or administration activities, except fees which enable or are necessary for the provision of the relevant management or administration service, including custody costs, settlement and exchange fees, regulatory levies or legal fees, and which, by their nature, cannot give rise to conflicts with the management company’s duties to act honestly, fairly and professionally in accordance with the best interests of the customers, are always returned to pension funds. Management company does not receive any non-monetary benefits in relation to investment management and administration activities. The Management company undertakes to disclose additional information about fees or commission upon a separate request of the customer.