Over 100 million litas in Hansabankas group's pension funds
2005-06-15 Back
Today SoDra has transferred LTL 29.9m to Hansabankas group's pension funds. This is up 62% from the previous quarter, when Hansabankas pension funds had received 18.4 million litas.
Total amount of contributions under retirement pension agreements accumulated in Hansabankas group's pension funds has already exceeded 100 million litas (over LTL 101m, to be precise). On average, a customer who signed a pension fund agreement with Hansabankas in 2003 has already accumulated 497 litas on his/her pension account. Those who signed such agreements a year later, have LTL 118 on their pension accounts.
"The earlier people decide on accumulation of their retirement pensions, the larger sums they can accumulate", - says Tomas Andrejauskas, Deputy Chairman of Board of Hansabankas.
According to T. Andrejauskas, the first year of the pension accumulation activity (that saw the first transfer of SoDra's pension contributions a year ago today) was successful to all participants of the domestic pension market.
"Pension funds managers achieved good investment results during the first year of the pension business. As the investment environment remains favorable, one can expect that pension funds will demonstrate high yield during the second year too. Therefore, those people who had not signed pension accumulation agreements earlier, can do it right now", - says Tomas Andrejauskas.
Pension agreements can be signed before 1 July this year.
During the first year of pension business, Hansabankas pension funds' yield performance was one of the best in the country. The most active pension fund, "Pensija 3", achieved a 13.15% yield, while "Pension 2" and "Pension 1" (the most conservative fund) delivered 8.88% and 5.16% respectively.
In terms of quantity of agreements signed, Hansabankas holds the largest market share. As many as 289 thousand individuals have "tied up" their future with Hansabankas (45% of the total number of persons who signed pension agreement in this country as of 13 June 2005). This year, Hansabankas has sold 45,000 new pension agreements and strengthened its market share to 48 percent.
Reports into the investment of pension contributions are available at Hansabankas website, www.hansa.lt, as well as in its Internet Bank, hanza.net , where one can view funds transferred and accumulated and opt for a change of a pension fund if need be.
Hansabankas belongs to Hansabank Group, the largest financial service group in the Baltics, whose strategic investor is Swedish bank, Swedbank . Lithuanian Hansabankas group consists of Hansa Lizingas, Hansa Gyvybes Draudimas (life assurance company), Hansa Investiciju Valdymas (an investment management company), Baltijos Autolizingas, Hansa Draudimo Brokeris (an insurance brokerage company) and Hansa Valda.
*1. To show yield of a pension fund, used is disclosure of a change in value of a pension fund unit. Calculation of change in value does not include the deducted fee. Instead, it includes the deducted fee from the total funds existing on a given account. To-date, the rate of fee stands at 3 percent of each sum of money paid in.
2. Pension funds' financial results achieved in the past do not guarantee future results.
3. Investment value may experience up and down movements. As a result, an investor may receive a smaller amount than invested.
These explanations must be communicated according to Lithuanian Securities Commission's explanations "On Incomplete and Incorrect Information" posted by pension funds.
