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Savings for employees

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Contribute to the greatest vacation of your employees’ lives!

  • Add to the arsenal of tools for long-term employee motivation. Take care of their future by contributing to their third-pillar pension funds.
  • The favourable tax environment means more economic benefits for the employee.
  • Simple administration – the agreement is concluded and managed by the employee, while the employer makes the payments.

EUR 100 for employee motivation

By giving the employee a raise:

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By contributing to an employee’s 3rd pillar pension fund:

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Unlike salaries and bonuses, contributions to pension funds are non-taxable. This tax relief is valid provided that the contribution paid to the pension fund does not exceed 25% of the employment-related income calculated for the employee. When contributing to an employee’s third-pillar pension fund, 100% of the funds allocated to the employee reach the employee, and this amount is as much as 68% higher than in the case of a raise. Calculations are rounded up to euro.

Are you saving for the greatest vacation of your life? Your employer can contribute to saving for your future!

  • If you’re already saving for a 1st or 2nd pillar pension, the pension you will receive will not be more than about 45% of your monthly income.* This means that if you were to retire tomorrow, your income would be less than half of your current salary.
  • To maintain your normal lifestyle, your pension should be at least 70% of your current income. Ensuring this can be realistic if you conclude a 3rd pillar pension accumulation agreement with Swedbank as early as possible.
  • By setting aside the chosen amount every month, your money will be invested, so you will have the opportunity to save more for your pension.
  • You don’t have to save for retirement alone!
  • Your employer can also contribute to your third-pillar pension fund savings.
  • Government incentive. You will be able to take advantage of the personal income tax relief and get back up to 20% of the contributions you paid in yourself. Learn more.

* Pillar 1 is state social insurance pension.

If you are already saving in Swedbank 3rd pillar pension funds:

If you are not already saving in Swedbank third-pillar pension funds:

Start saving

  • You are the manager of the third-pillar pension accumulation agreement.
  • You will make the decisions about changing the pension fund or adjusting the contribution, and you will have access to investment results and reports.
  • The funds accumulated in third-pillar pension funds belong to you.
    • If you leave your job and payments stop, you will remain the owner of the funds accumulated in the 3rd pillar pension fund. You will be able to become a sole contributor or to arrange payments to be taken over by your next employer.
    • If something happens to you, the funds accumulated in your pension account will belong to your heirs.
    • You will be able to withdraw part of the funds without termination of the savings/agreement. Please note that withdrawn funds are subject to taxation. More information is available here.
  • Funds are protected:
    • The funds accumulated are accounted for in your personal pension fund account, where they are safe because they are separated from the assets of the company managing the pension funds and are kept in a depository.
Years left till pension age: 0 The following investment returns (after deductions and fund operating expenses) are used to calculate the projected accumulation: Pension Fund 18+ (limited redemption) – 6.1%, Pension Fund 50+ (limited redemption) – 4.1%, Pension Fund 60+ (limited redemption) – 2.1%, Pension Fund 18+ – 6%, Pension Fund 50+ – 4%, Pension Fund 60+ – 2%. If you decide to introduce another return, this return will be used in the calculation. All results are estimates only and the pension fund manager does not guarantee investment returns.%%

Estimated savings

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  • More opportunities to motivate your employees. By contributing to accumulation in their 3rd pillar pension funds, you will be taking care not only of their current needs, but also of their future.
  • Decisions about contributions are made by you. You can pay a regular contribution of a fixed amount or link it to the size of the employee’s salary or how long the employee has been with your organisation.
  • The manager of the agreement is the employee, so it is extremely easy for the employer to administer the payments.
    • If the employee leaves the organisation or decides to stop saving, all you have to do is stop paying the contributions.
  • Get an incentive from the state. Contributions to employees’ 3rd pillar pension funds are subject to corporate and personal income tax relief. More on this is available here.

An example of saving with an employer in 3rd pillar pension funds. Swedbank contributes to its employees’ 3rd pillar pension funds.

If an employee decides to save in a third-pillar pension fund, Swedbank matches the contribution. Employees gets twice the return on investment than they would if they saved without the employer. { "title": { "text": "Pension fund 18+ (limited redemption)", "align": "center" }, "plotOptions": { "pie": { "dataLabels": { "format": "{y} €", "distance": -10 } } }, "legend": { "enabled": false } } { "title": { "text": "Pension fund 50+ (limited redemption)", "align": "center" }, "plotOptions": { "pie": { "dataLabels": { "format": "{y} €", "distance": -10 } } }, "legend": { "enabled": false } } { "title": { "text": "Pension fund 60+ (limited redemption)", "align": "center" }, "plotOptions": { "pie": { "dataLabels": { "format": "{y} €", "distance": -10 } } }, "legend": { "enabled": false } } Personal contributions Employer contributions Fund investment return

Regular funds - regular funds do not have limitations for agreement termination or partial withdrawal of funds.

Closed funds - when accumulating in Closed funds, one cannot terminate the agreement and/or perform a partial withdrawal of funds until 55 years of age.

Fee

Regular funds

Limited redemption funds

Fee application

Asset management fee 0,7% 0,6% Fee applies from the average yearly value of funds.
Fee for changing pension savings company 0,5% 0,5% Fee applies from the value of funds.
Contribution fee 0% 0%
Fee for withdrawing some funds 0% 0%
You can withdraw part of the funds at the age of 55.
No tax applies. The minimum amount that can be withdrawn is EUR 100, with a minimum of EUR 300 remaining in the pension fund account after the partial withdrawal.
Agreement termination fee 0% 0%
You can terminate the contract at the age of 55.
No tax applies.

Other factual operational costs of the funds are also covered with the assets of the fund:

  • 0.055% from the fund’s average annual net asset value for the services of the depository;
  • the asset management company will cover other expenses of the fund (for example, audit, trade in securities), if these expenses exceed 0.75% of the fund’s average annual net asset value.

To encourage saving in third-pillar pension funds, the government offers tax incentives on contributions.

  • Employees who are saving in third-pillar pension funds can take advantage of the personal income tax relief. When filing their tax returns, employees can get back up to 20% of the contributions they paid themselves into third-pillar pension funds. Permanent residents of the Republic of Lithuania can recover personal income tax on up to EUR 1,500 paid into the fund as contributions. Thus, a maximum of EUR 300 can be recovered per year.
  • The maximum amount of contributions eligible for the personal income tax relief is the equivalent of 25% of the taxable income received by the person during the entire tax period.
  • Please note: The personal income tax relief does not apply to the part of the contributions paid by the employer.

The government encourages employers to contribute to employees’ savings for retirement. Contributions made by the employer to the employee’s pension fund account are not taxable.

  • You will save on corporate income tax – the government encourages the use of these tools; according to the Law on Corporate Income Tax (Article 17(1)), contributions are included­ in allowable deductions.
  • You will save on personal income tax – the contributions paid by the employer for the benefit of the employee are recognised as non-taxable personal income and are therefore not subject to personal income tax (20%) under Article 17 of the Republic of Lithuania Law on Personal Income Tax and are not used to calculate state social insurance contributions (Article 11(1)(19) of the Republic of Lithuania Law on State Social Insurance) or compulsory health insurance contributions (Article 17 of the Republic of Lithuania Law on Health Insurance), provided that the total amount of contributions paid during the tax year does not exceed 25% of the employee’s employment-related income.

The conditions for taxation of benefits apply to benefits if the pension accumulation agreement was concluded between 01.01.2013 and now:

Beneficiary’s age More than 5 years from the age of 18 before retirement Less than 5 years before retirement age, or the level of incapacity for work between 0 and 40% has been established
Period of the pension accumulation agreement No impact on taxation Less than 5 years 5 years and over
Used PIT relief for a specific fund or contributions were paid by the employer the part of the benefit equals to the contributions paid 15% 15% 0%
the part of the benefit in excess of the amount of contributions (profit) 15% 15% 0%
Did not use PIT relief for a specific fund and no contributions were paid by the employer the part of the benefit equals to the contributions paid 0% 0% 0%
the part of the benefit in excess of the amount of contributions (profit) 15% 15% 0%

Closed funds - when accumulating in Closed funds, one cannot terminate the agreement and/or perform a partial withdrawal of funds until 55 years of age.

Pension fund 18+

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This fund is recommended for you if you are under 49 years old

  • Actively managed fund An actively managed fund is a pension fund where the manager decides which securities to buy and sell based on its own analysis, with the aim of outperforming the market average.
  • Management fee: 0,7%
  • Risk level: 6/7 Synthetic risk and return indicator - an indicator based on the variability of return (standard deviation), which shows the risk level and potential return of the fund. The closer this indicator is to 7, the higher the potential return, but also the higher the probability of fluctuating the value of the investment (and the loss of invested funds).

With a focus on sustainable investments, the funds investments have a positive impact on the environment, human health and contribute to the achievement of other United Nations Sustainable Development Goals.

Fund's monthly report

Pension fund 50+

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This fund is recommended for you if you are aged between 50 and 59 years

  • Actively managed fund An actively managed fund is a pension fund where the manager decides which securities to buy and sell based on its own analysis, with the aim of outperforming the market average.
  • Management fee: 0,7%
  • Risk level: 4/7 Synthetic risk and return indicator - an indicator based on the variability of return (standard deviation), which shows the risk level and potential return of the fund. The closer this indicator is to 7, the higher the potential return, but also the higher the probability of fluctuating the value of the investment (and the loss of invested funds).

With a focus on sustainable investments, the funds' investments have a positive impact on the environment, human health and contribute to the achievement of other United Nations Sustainable Development Goals.

Fund's monthly report

Pension fund 60+

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This fund is recommended for you if you are over 60 years old

  • Actively managed fund An actively managed fund is a pension fund where the manager decides which securities to buy and sell based on its own analysis, with the aim of outperforming the market average.
  • Management fee: 0,7%
  • Risk level: 4/7 Synthetic risk and return indicator - an indicator based on the variability of return (standard deviation), which shows the risk level and potential return of the fund. The closer this indicator is to 7, the higher the potential return, but also the higher the probability of fluctuating the value of the investment (and the loss of invested funds).

With a focus on sustainable investments, the funds' investments have a positive impact on the environment, human health and contribute to the achievement of other United Nations Sustainable Development Goals.

Fund's monthly report

Regular funds - regular funds do not have limitations for agreement termination or partial withdrawal of funds.

Pension fund 18+ (limited redemption)

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This fund is recommended for you if you are under 49 years old

  • Actively managed fund An actively managed fund is a pension fund where the manager decides which securities to buy and sell based on its own analysis, with the aim of outperforming the market average.
  • Management fee: 0,6%
  • Risk level: 6/7 Synthetic risk and return indicator - an indicator based on the variability of return (standard deviation), which shows the risk level and potential return of the fund. The closer this indicator is to 7, the higher the potential return, but also the higher the probability of fluctuating the value of the investment (and the loss of invested funds).

With a focus on sustainable investments, the funds investments have a positive impact on the environment, human health and contribute to the achievement of other United Nations Sustainable Development Goals.

Fund's monthly report

Pension fund 50+ (limited redemption)

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This fund is recommended for you if you are aged between 50 and 59 years

  • Actively managed fund An actively managed fund is a pension fund where the manager decides which securities to buy and sell based on its own analysis, with the aim of outperforming the market average.
  • Management fee: 0,6%
  • Risk level: 5/7 Synthetic risk and return indicator - an indicator based on the variability of return (standard deviation), which shows the risk level and potential return of the fund. The closer this indicator is to 7, the higher the potential return, but also the higher the probability of fluctuating the value of the investment (and the loss of invested funds).

With a focus on sustainable investments, the funds' investments have a positive impact on the environment, human health and contribute to the achievement of other United Nations Sustainable Development Goals.

Fund's monthly report

Pension fund 60+ (limited redemption)

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This fund is recommended for you if you are over 60 years old

  • Actively managed fund An actively managed fund is a pension fund where the manager decides which securities to buy and sell based on its own analysis, with the aim of outperforming the market average.
  • Management fee: 0,6%
  • Risk level: 4/7 Synthetic risk and return indicator - an indicator based on the variability of return (standard deviation), which shows the risk level and potential return of the fund. The closer this indicator is to 7, the higher the potential return, but also the higher the probability of fluctuating the value of the investment (and the loss of invested funds).

With a focus on sustainable investments, the funds' investments have a positive impact on the environment, human health and contribute to the achievement of other United Nations Sustainable Development Goals.

Fund's monthly report

Pension fund regulations

More information about the funds

When you save in pension funds, you take on investment risk and there is no guarantee that your investments will increase in value. Past performance is no guarantee of future results.

The pension fund manager, Swedbank investicijų valdymas UAB, together with Swedbank Robur Fonder AB in Sweden, aims to achieve good performance from the funds.

The funds you accumulate are held in your personal pension fund account, where they are safe because they are segregated from the assets of the company managing the pension funds and are stored in a depository (Swedbank AB company code 112029651, address Konstitucijos pr. 20 A, Vilnius).

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