Hansabankas group offers 3rd pillar pension agreements
2005-01-11 Back
Hansabankas group, a leader in Lithuanian pension market, has presented a new product - "Hansa Pensija Plus". It is a voluntary pension accumulation service designed for accumulation of individuals' own funds.
According to Mr. Darius Valentukevicius, Director of Hansabankas subsidiary, "Hansa Gyvybes Draudimas", this new product is expected to attract people because it allows them to pass independent decision as to what portion of personal earnings may be allocated for pension accumulation purpose. Says Mr. V Valentukevicius: " We will offer such a service that allows us to flexibly react to customers' needs and tailor our products according to individual expectations and preferences".
Under the voluntary pension accumulation scheme, "Pensija 1 Plus", "Hansa Gyvybes Draudimas" offers two investment options: to invest 30 percent of funds into shares and 70 percent into bonds. Under the old scheme, "Pensija 2 Plus", people may invest 60 percent into shares and 40 percent into bonds. From now on, investors will be free to change their investment options twice a year free of charge.
Persons, who will sign voluntary pension accumulation agreements, will get a refund of personal income tax that, in turn, will contribute to personal savings growth.
In addition to the possibility of investment and accumulation of funds for one's retirement, individuals will be encouraged to insure against certain risks, such as accident, small injuries, disability, critical diseases or sign life assurance agreements.
"Hansa Gyvybes Draudimas" is a domestic life inusrance leader in Lithuania, which holds a 40.2% life assurance market share (according to Lithuanian Insurance Supervision Commission's information as of end-November of 2004).
Hansabankas belongs to Hansabank Group, the largest financial service institution in the Baltics, whose strategic investor is Swedish bank, Swedbank. Lithuanian Hansabankas group consists of "Hanza Lizingas", "Hansa Gyvybes Draudimas", "Hansa Investiciju Valdymas", "Baltijos Autolizingas" and "Hansa Draudimo Brokeris".
