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3rd pillar pension funds

Save for the greatest vacation of your life!

  • Make 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!
  • To ensure a stable return for you, we invest in responsible businesses.
  • New! Your employer can also contribute to your 3rd pillar pension fund savings.
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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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: 4/7 The cumulative risk indicator shows the level of risk of this product: how likely it is that the product will suffer losses due to changes in the financial markets. Risk class 4 (out of 7) is a medium risk class. More details can be found in the Key information document.

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: 3/7 The cumulative risk indicator shows the level of risk of this product: how likely it is that the product will suffer losses due to changes in the financial markets. Risk class 3 (out of 7) is lower than average risk class. More details can be found in the Key information document.

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: 3/7 The cumulative risk indicator shows the level of risk of this product: how likely it is that the product will suffer losses due to changes in the financial markets. Risk class 3 (out of 7) is lower than average risk class. More details can be found in the Key information document.

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: 4/7 The cumulative risk indicator shows the level of risk of this product: how likely it is that the product will suffer losses due to changes in the financial markets. Risk class 4 (out of 7) is a medium risk class. More details can be found in the Key information document.

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: 3/7 The cumulative risk indicator shows the level of risk of this product: how likely it is that the product will suffer losses due to changes in the financial markets. Risk class 3 (out of 7) is lower than average risk class. More details can be found in the Key information document.

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: 3/7 The cumulative risk indicator shows the level of risk of this product: how likely it is that the product will suffer losses due to changes in the financial markets. Risk class 3 (out of 7) is lower than average risk class. More details can be found in the Key information document.

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 beEUR 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
    • To pay pension contributions regularly, select regular payments when concluding your 3rd pillar pension agreement. In this case, you will not only conclude pension agreement, but also e-invoice and its automated payment agreements. Every month, on the payment day you choose, the corresponding amount of money will be transferred from your bank account to your pension fund account – you will be informed about that by a message in the Internet bank.
    • In case you did not choose regular payments when concluding your 3rd pillar pension agreement, you can do so at any time in your Internet bank – here. Select Add regular payments to the 3rd pillar pension agreement, fill in the form and confirm it.
    • In case you do not want to choose regular automated payment every month, and will pay them by one-time transfer, please do so using the form prepared for you. Click here and select Add additional payments.
    • To transfer contributions to your pension fund account from another bank account, specify the details in transfer that are provided in the instructions.
  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. Contributions to your 3rd pillar pension fund can also be paid by your employer.

You can find more information about pension accumulation with an employer here.

Instructions on how to transfer the employer’s contribution to your pension fund account can be found here.

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

Your pension power

Investing II and III pillar funds we prioritize businesses that create a greener environment and a higher quality of life for all. When selecting funds, we prioritize those with higher sustainability indicators. Today, we focus on the following topics:

Reducing CO2 emissions

Your investments encourage companies to reduce emissions and transform businesses into more sustainable ones.

Read more

Climate solutions

Investing in renewable energy, forest planting and maintenance, green building or energy efficiency improvement solutions.

Read more

Local investments

By investing in local businesses, you help them grow, innovate and strengthen the regional economy.

Read more

Progressive society

You contribute to the protection of health, the development of new technologies and the improvement of the quality of life.

Read more

Reducing CO2 emissions

Reducing CO2 emissions is one of the most important goals of the whole world and of ours. Your funds are invested in companies that aim to reduce carbon dioxide emissions in their operations.

  • Such companies are usually more innovative, efficient, and profitable as they are looking for more sustainable ways to use energy, water, production materials or recycle waste.
  • The intensity of issues in our investment portfolio is 48 tons and is almost 3 times lower than the market average, which is 135 tons.

CO2 intensity*

* Tons CO2e/$M sales (Source: MSCI; September 2023)

Climate solutions

By investing in climate solutions, you are promoting the growth of the renewable energy sector, planting forests, building climate-friendly buildings or contributing to the development of energy efficiency solutions.

The value of investments in Baltic countries' companies*:

  • * €100 million to renewable energy
  • * €46 million to green buildings
  • * €24 million to forestry

These investments not only reduce climate change, but also support the development of innovative technologies, create green jobs and strengthen the economy.

* Based on Swedbank evaluation as of September 2023

Local investments

We are the largest local investor among pension fund management companies in Lithuania.

€180 million* - this is the value of Swedbank pension funds' investments in the development of Lithuanian business.

€345 million* - allocated to all three business markets of the Baltic States.

Your funds contribute not only to the growth of mature companies but also to the carefully selected startups, in which we invest through alternative investment funds. Here are a few of them:

  • Ignitis - renewable energy
  • Enefit Green - renewable energy
  • Baltic Green Fund - forest fund
  • Bestair & Zave Group (Livonia Partners) - heat pumps and renewable energy products
  • Startup PVCase (Practica Capital) - solar park design software

* Data as of September 2023

Progressive society

The value of pension funds' investments in the health and technology sector amounts to about 650 million euros*.

By investing in the healthcare sector, you are contributing to the development of pharmaceuticals, biotechnology, healthcare equipment and technologies (e.g., medicines, medical equipment, diagnostics, etc.).

The information technology sector contributes not only to a more comfortable everyday life (e.g., robotics, the Internet of Things), but also to reducing emissions, since digital solutions can reduce global emissions by up to 20%. (Source: World Economic Forum).

*Data as of September 2023

Sustainability

Sustainability in pension saving - what is it?

By choosing to invest in Swedbank pension funds, you are contributing to responsible business promotion and growth. By investing the assets of pension funds, we aim to build a financially stable and sustainable society and reduce our environmental impact.

High ESG standards

The ESG rating is one of the most important criteria when choosing investments for pension funds. It assesses the risks to companies in the areas of environmental (E), social sustainability (S) and good governance (G), which can have a material impact on their financial performance. We give priority to companies with high ESG ratings.

Why does it matter?

ESG-focused companies have sustainability strategies and often have better operational efficiency, lower staff turnover, innovation, retained talent, lower compliance costs and good risk management. All of this can also lead to higher returns.

  • CO2 emissions
  • Pollution, waste
  • Energy consumption
  • Water consumption
  • Consumption of other resources
  • Employee health and well-being
  • Fair remuneration
  • Human rights and equal opportunities
  • Product safety
  • Value for communities
  • 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 third pillar pension funds have one of the best ESG ratings - AA*.

ESG rating of III pillar pension funds - one of the highest (AA) ESG rating of III 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.
  • ESG ratings focus on what is material to a company's profit or loss statement.
  • The higher the rating, the more stable the investments of the pension fund, and investment returns are likely to be higher, as their ESG risk is lower.

* Source: MSCI, 31 March 2023

The each pension fund's ESG rating can be found in the "Monthly Fund Report".

  1. Investment opportunities: We assess sustainability risks in investment decisions. For example, we invest in financial instruments that meet the sustainability criteria, contribute to reducing CO2 emissions, environmental solutions (renewable energy, forests) or green projects (green bonds).
  2. Participation in operations: We cooperate with companies where we directly manage larger holdings or where there are opportunities to set higher sustainability goals. Such participation includes, for example, voting at shareholders' meetings and continuous cooperation with managements of companies.
  3. We do not directly invest in certain areas, such as tobacco, alcohol, fossil fuels, weapon industries, companies that create content for adults. We use the Freedom House index by selecting government bonds – we do not invest in countries where civil rights or democratic principles are systematically violated.

Which area of sustainability would you invest in?

A survey* commissioned by Swedbank showed that more than 20% of the country's population would opt for investments in waste recycling and renewable energy if given the choice of sustainable investment areas.

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*The data is based on the results of a Spinter Research survey conducted in October 2023.

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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