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Swedbank pension

Start accumulating now to receive higher income in old age

Swedbank pension is your first step towards a bigger pension. The earlier you start, the more you will accumulate. Why should you choose us for pension accumulation?

  • Almost 40 per cent of all Lithuanians who accumulate pension in the pillar II pension funds have chosen Swedbank.
  • The II pillar pension funds we manage are appreciated not only in Lithuania – Swedbank fund “Pension 1982–1988” was recognised as the best pension fund in Eastern and Central Europe at the 2022 IPE European Pension Fund Awards!
  • In order to ensure a stable return for you, we invest in sustainable business.

Worried about your pension?

We invite you to read the article about accumulating for retirement and how much money it can make.

Read

Swedbank pension provides a possibility to accumulate additional funds in pillar II pension funds and later receive the retirement income from two sources: Sodra and your pension fund.

Accumulation is simple because you will choose the suitable fund according to your birth year and will be able to accumulate in it until your pensionable age.

A contribution to your personal pension fund account will be comprised of two parts: a contribution calculated from your salary (gross) and an incentive contribution from the state budget calculated from the average national wages.

Calculation of these contributions and transfer thereof to pension funds is administered by Sodra, thus you don’t have to worry about it.
  • The Sodra old-age pension will not decrease because of the accumulation in pillar II pension funds.
  • Your accumulated funds are inheritable (until they are paid out).
  • By accumulating in pension funds, you assume the investment risk and there are no guarantees that the value of investment will grow. The results achieved in the past do not guarantee future results.
  • More detailed information is available in the Rules of the Pension Fund and the Investment Strategy Document.
  • Swedbank pension funds invest following the responsible investment policy.
  • Pension funds‘ assets are separated from the assets of the pension fund management company and are kept in a depository „Swedbank“, AB (Konstitucijos pr. 20A, Vilnius, Lietuva).

Your contribution to the pension fund includes:

  • A 3% contribution calculated from your salary (gross);
  • A 1.5% incentive contribution from the state budget calculated from the gross average national wages*.

For those, who accumulated at a minimum rate, the contributions increased gradually until 2023 when it reached the maximum rate (3%+1.5%).

* An incentive contribution from the state budget is calculated from the gross monthly national wages according to the official data of the Statistics Lithuania on the average wages of the year before last.

No worries

Having chosen a fund according to your birth year once, you will be able to accumulate in it until your pensionable age.

It is easy to start

You can start accumulating in pillar II pension funds or switch to Swedbank from another pension accumulation company without leaving home.

Life-cycle pension funds are balanced target group pension funds where investments are dynamically changed according to your age. The younger you are, the bigger share is invested in equity markets in order to get a bigger return on investment. As you are approaching the pensionable age, the share of equity in the fund (and the risk) gradually decreases, whereas the share of bonds and other more secure investment instruments (deposits, cash) increases in order to secure accumulated funds.

List of GC funds

You were born in 1996–2002 (inclusive).
  • The investment risk of the fund is gradually reduced with regard to the age of the participants of the fund. The aim of the fund is to accumulate maximum amount of the pension assets before the retirement date.
  • The strategic share of risk assets (for example, market shares, alternative investments) is dynamically reduced down from 97% at the beginning of the accumulation period to 15% at the end of the accumulation period, thus achieving the optimum investment results throughout the whole accumulation period.
  • Bearing in mind the situation in the financial markets and its prospects, the share of risk assets can be increased or reduced within a 10% limit. At the beginning of the accumulation the share of risk assets may vary from 87% to 100%, and at the end of the accumulation period – from 5% to 25%.
Pension funds results

Documents

You were born in 1989–1995 (inclusive).
  • The investment risk of the fund is gradually reduced with regard to the age of the participants of the fund. The aim of the fund is to accumulate maximum amount of the pension assets before the retirement date.
  • The strategic share of risk assets (for example, market shares, alternative investments) is dynamically reduced down from 97% at the beginning of the accumulation period to 15% at the end of the accumulation period, thus achieving the optimum investment results throughout the whole accumulation period.
  • Bearing in mind the situation in the financial markets and its prospects, the share of risk assets can be increased or reduced within a 10% limit. At the beginning of the accumulation the share of risk assets may vary from 87% to 100%, and at the end of the accumulation period – from 5% to 25%.
Pension funds results

Documents

You were born in 1982–1988 (inclusive).

In 2019, the IPE (Investments & Pensions Europe) magazine ranked Swedbank’s life-cycle fund “Pension 1982–1988” among the top three pension funds of Central and Eastern Europe.

In 2022, the fund was named the best pension fund in Eastern and Central Europe at the prestigious IPE European Pension Fund Awards. Read more here.
  • The investment risk of the fund is gradually reduced with regard to the age of the participants of the fund. The aim of the fund is to accumulate maximum amount of the pension assets before the retirement date.
  • The strategic share of risk assets (for example, market shares, alternative investments) is dynamically reduced down from 97% at the beginning of the accumulation period to 15% at the end of the accumulation period, thus achieving the optimum investment results throughout the whole accumulation period.
  • Bearing in mind the situation in the financial markets and its prospects, the share of risk assets can be increased or reduced within a 10% limit. At the beginning of the accumulation the share of risk assets may vary from 87% to 100%, and at the end of the accumulation period – from 5% to 25%.
Pension funds results

Documents

You were born in 1975–1981 (inclusive).
  • The investment risk of the fund is gradually reduced with regard to the age of the participants of the fund. The aim of the fund is to accumulate maximum amount of the pension assets before the retirement date.
  • The strategic share of risk assets (for example, market shares, alternative investments) is dynamically reduced down from 97% at the beginning of the accumulation period to 15% at the end of the accumulation period, thus achieving the optimum investment results throughout the whole accumulation period.
  • Bearing in mind the situation in the financial markets and its prospects, the share of risk assets can be increased or reduced within a 10% limit. At the beginning of the accumulation the share of risk assets may vary from 87% to 100%, and at the end of the accumulation period – from 5% to 25%.
Pension funds results

Documents

You were born in 1968–1974 (inclusive).
  • The investment risk of the fund is gradually reduced with regard to the age of the participants of the fund. The aim of the fund is to accumulate maximum amount of the pension assets before the retirement date.
  • The strategic share of risk assets (for example, market shares, alternative investments) is dynamically reduced down from 97% at the beginning of the accumulation period to 15% at the end of the accumulation period, thus achieving the optimum investment results throughout the whole accumulation period.
  • Bearing in mind the situation in the financial markets and its prospects, the share of risk assets can be increased or reduced within a 10% limit. At the beginning of the accumulation the share of risk assets may vary from 87% to 100%, and at the end of the accumulation period – from 5% to 25%.
Pension funds results

Documents

You were born in 1961–1967 (inclusive).
  • The investment risk of the fund is gradually reduced with regard to the age of the participants of the fund. The aim of the fund is to accumulate maximum amount of the pension assets before the retirement date.
  • The strategic share of risk assets (for example, market shares, alternative investments) is dynamically reduced down from 60% in 2019 to 15% at the end of the accumulation period, thus achieving the optimum investment results throughout the whole accumulation period.
  • Bearing in mind the situation in the financial markets and its prospects, the share of risk assets can be increased or reduced within a 10% limit. In 2019 the share of risk assets may vary from 50% to 70%, and at the end of the accumulation period – from 5% to 25%.
Pension funds results

Documents

You were born in 1954–1960 (inclusive).
  • The investment risk of the fund is gradually reduced with regard to the age of the participants of the fund. The aim of the fund is to accumulate maximum amount of the pension assets before the retirement date.
  • The strategic share of risk assets (for example, market shares, alternative investments) is dynamically reduced down from 25% in 2019 to 15% in 2022, thus achieving the optimum investment results throughout the whole accumulation period.
  • Bearing in mind the situation in the financial markets and its prospects, the share of risk assets can be increased or reduced within a 10% limit. In 2019 the share of risk assets may vary from 15% to 35%, and at the end of the accumulation period – from 5% to 25%.
Pension funds results

Documents

Documents

You were born before 1954.
  • The aim of the fund is to ensure the maximum protection of the participants’ accumulated assets from significant changes in unit values of pension funds and the risk of inflation.
  • The investment strategy does not depend on the age of participants.
  • Not less than 50% of the fund’s assets are invested into government bonds and deposits, up to 30% of the assets the fund may invest into corporate bonds, and up to 20% – into share markets.
Pension funds results

Pension fund manager UAB Swedbank investicijų valdymas together with AB Swedbank Robur Fonder, operating in Sweden, have been seeking good fund performance.
  1. Choose a life-cycle fund.
  2. Conclude the Swedbank pension agreement.

That’s it – you will start accumulating in your personal pension fund account.

Important! If you conclude a pension accumulation agreement for the first time, you will be able to unilaterally terminate it within 30 days from its conclusion by submitting an application on the Internet Bank or at the bank’s branch. Afterwards, you will not be able to terminate it.

Start accumulating

Switching a pension company and executing the transition from another company is simple. You can do this by logging in to Swedbank’s Internet Bank:

  1. Choose a life-cycle fund.
  2. Conclude the Swedbank pension agreement.

That’s it – your accumulated amount will be transferred to your personal pension account in the Swedbank pension fund within several days.

Important! A company switching fee of 0.05 per cent applies to switching a pension accumulation company. For example, if you have accumulated EUR 1000, the switching fee will be EUR 0.5.

Start accumulating in Swedbank

In the Internet Bank you can always check on the quantity of the contributions transferred and the amount accumulated, monitor the profitability of the pension funds or view the annual report about the funds accumulated in your pension account.

The right to receive a pension payout is granted to you upon reaching a retirement age or if you are awarded an early state social insurance retirement pension.

The retirement age is gradually being extended until it reaches 65 in 2026. You can check your retirement date in the calculator here.

You will have to apply to the bank regarding the conclusion of a pension payout agreement. You will be able to do this by coming to the nearest Swedbank’s branch. You must necessarily book a visit online or by calling +370 5 268 4444 or 1884.

How are the funds paid?

Depending on the accumulated amount, the funds may be paid in one of the following ways:

Up to EUR 5 403
Single payout

First, you will have to submit a payout application upon registration and arrival at the Swedbank branch of your choice. There you will sign the payout agreement and the entire accumulated amount will be transferred to your bank account.

At your request you could acquire a pension annuity instead of a single payout.
EUR 5 403-10 807
Regular payouts

First, you will have to submit a payout application upon registering and coming to the Swedbank’s branch of your choice.

The accumulated amount will be paid by instalments until you reach the age of 85 years. Payments will be made on a monthly or quarterly basis. The amount of a regular payout will be calculated in pension fund units that will be periodically converted to money and paid to your indicated account. The amount of a regular payout in euros may change – both increase and decrease, depending on the fund unit value. While units will be periodically converted to money, the quantity of units will decrease in your pension account; however, the remaining unpaid funds i the fund will be further invested. In the event of your death, the funds will be inherited by the specified heirs.

At your request you could acquire a pension annuity instead of a single payout.
Over EUR 10 807
Pension annuity

A pension annuity will secure regular payouts for life.

In accordance with the current legislation, acquisition of a pension annuity is mandatory, if the accumulated amount exceeds EUR 10 807. If an annuity is acquired, Sodra will make payouts.

You may acquire a pension annuity by submitting an application to Sodra:

  • in any Sodra’s resident service office or having logged in to the webpage gyventojai.sodra.lt;
  • in any Swedbank’s branch. Please book a consultation via internet or by phone +370 5 268 4444 or 1884.

Before applying, choose one of the annuity types offered by Sodra: standard, standard with a guarantee or deferred. You may find further information on annuity types and calculations having logged in to Sodra’s webpage here.

If you submit an application for the acquiring of a pension annuity to Sodra, then within 3 working days you will have to submit an application to Swedbank for a payment from the pension fund (booking of a consultation is required). Otherwise, the application for an annuity submitted in Sodra will be annulled.
Over EUR 64 841

After accumulating more than EUR 64 841: An annuity contract is signed for the amount of EUR 64 841, and the remaining part (exceeding EUR 64 841) can be paid as a lump sum.

If you want to receive the amount accumulated and exceeding EUR 64 841 as a lump sum, submit an application at any Swedbank branch (pre-registration required).

Information on the characteristics and risks of types of pension benefits
Pension fund

Property management fee*

Management enterprise switching fee*
Pension 1996-2002 0,5 % 0,05 %
Pension 1989-1995 0,5 % 0,05 %
Pension 1982-1988 0,5 % 0,05 %
Pension 1975-1981 0,5 % 0,05 %
Pension 1968-1974 0,5 % 0,05 %
Pension 1968-1974 0,5 % 0,05 %
Pension 1954-1960 0,5 % 0,05 %
Asset preservation pension fund 0,2 % 0,05 %

The fund switching fee within the management enterprise is free of charge in all “Swedbank” pension funds.

* Annual fee calculated each working day on the average annual value of the funds accumulated in the fund, thus reducing the unit value of the pension fund. For life-cycle pension funds, this fee will be reduced to 0.4% when the average annual value of the assets under management in the second pillar pension fund exceeds EUR 2.5 billion.

** Calculated from the value of accumulated funds transferred to another pension fund enterprise.

More detailed information is available in the Rules of the Pension Fund and the Investment Strategy Document.

Sustainability

Sustainability in pension saving - what is it?

By choosing to invest in Swedbank pension funds, you are contributing to sustainable business promotion and growth. Sustainable investments help build financially stable and sustainable societies and reduce environmental impacts.

Why invest in sustainable business?

Investing in a sustainable business is likely to yield a higher return on investment. Companies that pay sufficient attention to sustainability gain a comprehensive competitive advantage, with their goods and services more favourably valued by consumers, and find it increasingly easy to attract new investment.

What determines corporate sustainability?

Corporate sustainability is determined by three main factors, known as ESG: environmental (E), social (S) and governance (G).

Environment (E)

  • CO2 emissions
  • Pollution, waste
  • Energy consumption
  • Water consumption
  • Consumption of other resources

Social (S)

  • Employee health and well-being
  • Fair remuneration
  • Human rights and equal opportunities
  • Product safety
  • Value for communities

Governance (G)

  • Business ethics
  • Transparency
  • Anti-corruption
  • Accountability
  • Data protection
  • Clear structure

Our ESG rating is one of the highest!

According to global rating agency MSCI ESG Ratings, our second pillar pension funds have one of the best ESG ratings - AA.

ESG rating of II pillar pension funds - one of the highest (AA). ESG rating of II pillar pension funds - one of the highest (AA).

A high sustainability rating indicates that the majority of pension funds are directed to companies that demonstrate leadership in their field of activity in managing sustainability risks and reducing environmental impacts. The higher the rating, the more sustainable the investments of the pension fund, and investment returns are likely to be higher.

* Source: MSCI, 31 March 2023

 ESG rating of II pillar pension funds - one of the highest (AA).ESG rating of II pillar pension funds - one of the highest (AA).

Which area of sustainability would you invest in?

{ "chart": { "height": 600 }, "xAxis": { "visible": true, "categories": ["Quantity of electricity produced from renewable energy sources", "Quantity of recycled plastic/electronics", "Investment in medical research and the development of new products", "Amount of new trees planted", "New jobs created", "CO2 reduction", "Reduced/cleaned up water used in industrial processes", "It's not relevant to me"], "labels": { "useHTML": true, "align": "left", "x": 0, "y": 30 }}, "yAxis": {"min": 0, "max": 50}, "plotOptions": { "series": { "pointWidth": 25 } } }

*The data is based on the results of a Spinter Research survey conducted in September 2022.

This amount was invested in forests, including a responsible forest management cycle from planting trees to using the wood for production.

This amount was invested in Baltic companies developing renewable energy by the end of 2022.

This amount of green energy was generated by renewable energy companies in 2022, in which your funds are invested.

* Data is based on the calculations of Swedbank Investment Management for the twelve months of 2022.

Documents and information which are publicated based on the requirements of Regulation (EU) 2019/2088 Of The European Parliament and of The Council on sustainability‐related disclosures in the financial services sector, can be found here.
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Have you heard about the Swedbank gift for 18-year-olds?

We are giving them EUR 20 worth of Swedbank Robur fund units to start investing!

We hope that this gift will help youngsters to manage their finances better and to start a successful investment journey. Interested? Find out more about this gift!

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The fun financial literacy game "Knowledge Hike" takes cognition to a new level!

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