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3rd pillar pension funds

Save for the greatest vacation of your life!

  • Make monthly payments and greet your pension with joy!
  • Decide for yourself how much and how often you want to accumulate for your pension.
  • In your Internet Bank you can conclude, follow, and edit agreement for free.
  • No matter your age, it’s never too late to start saving for the biggest vacation of your life!
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

  • 0EUR
  • 0EUR
  • 0EUR
  • 0EUR

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

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

3rd pillar pension funds are additional voluntary savings for retirement.

Saving in 2nd pillar is the first and very important step towards a comfortable retirement. However, it is a good idea to take care of yourself today and start saving extra in 3rd pillar pension funds to enjoy your pension fully.

  • We offer a flexible 3rd pillar pension contract. You can manage this contract in your Internet-Bank yourself: you can set it up, adjust it, suspend it, and even withdraw part of your savings before the contract expires if necessary!
  • It is not just saving – you'll be safely investing in your future. By setting aside a chosen monthly amount, your money will be invested so you can save more for your retirement.
  • If you are already participating in 1st pillar and 2nd pillar, the pension you will receive will be only about 45% of your current monthly income*. This means that if you retired tomorrow, your income would be less than half your current salary.
  • Meanwhile, in order to maintain your normal lifestyle, your pension benefit should be at least 70% of your current income. This is very realistic if you sign a contract of the 3rd pension pillar with Swedbank as early as possible.
  • * 1st pillar is the state social insurance pension.

It is important to know:

  • maximum amount of contributions, from which IIT (Individual income tax) can be refunded, may not exceed 25% throughout the tax period of your received taxed incomes. The provisions can be found inParagraph 3, Article 21 of the Law on Individual Income Tax.
  • Permanent residents of the Republic of Lithuania are entitled to refund of the IIT of maximum EUR 1500 contributions paid into their cumulative life insurance agreements and pension funds. Therefore, maximum refund can be EUR 300 per year.
  • under this tax privilege, you are entitled to refund of your paid IIT only from your contributions paid into third pillar pension funds (privilege does not apply to contributions paid into your pension funds by the employer).

Further information about this privilege is available on www.vmi.lt

Please bear in mind, that benefit of your accumulated amounts will not be taxed if:

  • You do not use IIT privilege (if contributions were paid also by the employer, then the amount paid by the employer will be taxed when paying benefits);
  • you already reached the official old age pension age or 5 years are remaining until it, while your pension schemes will remain in effect for 5 and more years.

In other cases, upon cancellation of the agreement or disbursement of partial value, 15% IIT will be deducted from the benefit amount.

  1. Choose the 3rd pillar pension fund recommended according to your age.
  2. Conclude your 3rd pillar pension agreement following the steps in the Internet Bank.
Even if you are currently saving in the 3rd pillar pension fund managed by another company, you can switch to Swedbank!

All you have to do is to conclude a new 3rd pillar pension agreement with Swedbank and submit a copy of the agreement and the transfer request to the company you are currently saving with.

  1. You can choose the amount of your monthly contribution. To help you decide, we have created a calculator to help you work out how much you would save if you contributed to your pension at one of these levels.

    Calculator
  2. Remember that you can increase, decrease or even stop contributing at any time. You can also make additional lump-sum contributions on top of your regular monthly contributions.
  3. Your employer may pay all or part of the contribution.

The state encourages saving in 3rd pillar pension funds and offers tax relief on contributions.

  1. You can benefit from a Personal Income Tax (PIT) allowance – up to 20% of the contributions you pay into the 3rd pillar pension fund can be reclaimed each year when declaring your income. Permanent residents of the Republic of Lithuania can get a refund on the amount of up to EUR 1,500 of their contributions to the Fund. Thus, the maximum amount that can be recovered per year is EUR 300.
  2. The maximum amount of contributions on which part of the personal income tax (PIT) can be recovered cannot exceed 25% of the taxable income received by the individual during the tax period.
Important: the relief does not apply to contributions made by the employer.

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%
  1. When you reach retirement age, you can withdraw the amount you have saved in a lump sum. Until the withdrawal, the amount you have accumulated is inherited and protected*.
  2. If you wish to terminate your accumulation agreement with the 3rd pillar pension fund and withdraw the full amount before the end of the agreement, or if you do not terminate the contract but withdraw part of the accrued amount, this will depend on the type of 3rd pillar pension fund you choose.

Limited redemption funds – you can terminate your contract or withdraw part of your accumulation (you must have EUR 300 left, minimum withdrawal is EUR 100) at the age of 55.

Ordinary pension funds – you can terminate your pension agreement or withdraw part of your pension savings (EUR 300 must be left and the minimum withdrawal is EUR 100) at any time.

Important! We recommend that you consult with our specialists before terminating your agreement so that we can offer you the best solution for your needs. You can register for a consultation here.

* Pension assets are protected against the bankruptcy of the pension fund management company as they are kept in the Swedbank, AB depository separately from the assets of the management company.

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.

Pension fund regulations

What is sustainability in pension accumulation? First of all, it is a conscious choice to invest in businesses and companies that operate sustainably. The sustainability assessment of enterprises includes the following criteria:

Society

  • Social factors include assessing the impact of a company on society: how it takes care of the safety of its employees and their working conditions, observes basic human rights requirements and maintains relationships with customers.

Environment

  • While assessing environmental criteria the impact of business activities on air, water or soil pollution, also, impact on ecosystems and human health is taken into account.

Management

  • Management assessment is related to management practices applied in the company, employee remuneration policies, gender diversity in management or how transparency provisions are implemented.

By choosing to accumulate in Swedbank’s pension funds, you contribute to the promotion and growth of sustainable businesses. The funds invested have a positive impact on the environment, human health and contribute to other United Nations Sustainable Development Goals. Investing in a sustainable business is also likely to have a higher return on investment.

  • Higher expected return on investment. Based on our estimates*, the decision to redirect even more pension funds to sustainable businesses earned an additional EUR 40 million return on investment for customers in 2021. Enterprises that focus more on sustainability gain a full competitive advantage, i.e. their goods and services are more favoured by consumers, and it becomes easier for such enterprises to attract new investments.
  • Your positive impact on reducing climate change and air pollution. We have calculated that the CO2 emissions of the companies that make up the investment portfolio of our funds have decreased four times** as we have invested the assets of these funds in companies that meet the sustainability criteria.

* Comparative analysis was based on the data of Swedbank and Bloomberg. The additional amount earned was estimated by calculating the difference between Swedbank’s tier II pension fund return in euros and the theoretical return ratio. The latter was obtained by multiplying the value of our investments by the weighted return earned by the equity funds that invest based on the traditional criteria.

** From 205 tons of CO2 per million USD of revenue in 2019 down to 49 tons of CO2 per million USD of revenue in 2021.

  1. Investment opportunities: By optimizing the composition of our fund portfolios, we include sustainability risks in investment decisions. For example, we choose to invest in financial instruments that meet the sustainability criteria, contribute to climate change mitigation and help achieve the United Nations Sustainable Development Goals.
  2. Participation in operations: We cooperate with companies where we directly manage larger holdings, where sustainability risks are particularly high or where there are opportunities to set higher sustainability goals. Such participation includes, for example, voting at shareholders' meetings and continuous cooperation with the Board or the Management of the Company.
  3. We do not invest in certain areas, such as tobacco, alcohol, fossil fuels, weapon industries, companies that create content for adults.
Let’s take a sustainable step – for the benefit of all
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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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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