3rd Pillar Pensions

After retirement the guaranteed support will compensate your usual income only partly. Nordea 3rd Pillar Pensions provide the possibility to ensure that your income after retirement does not decrease significantly. Moreover, contributions to a pension fund will qualify for essential tax reliefs already now.

3rd Pillar Pension scheme provides an opportunity to make voluntary savings for old age. In addition to the government guaranteed pension, you can make contributions yourself or through your employer. 3rd Pillar Pension assets are accumulated in the pension plans of a private pension fund and invested in the financial markets.

Why is it beneficial to save using the Nordea 3rd Pillar Pension plans:

  • Relief of personal income tax in the amount of 23% from the made contributions, which do not exceed 10% of your gross annual income.
  • Amount and frequency of contributions is not limited.
  • Possibility to invest in one or both Nordea pension plans.
  • Possibility to access the accumulated assets upon reaching the age of 55.
  • Assets accumulated in 3rd Pillar Pension scheme are inheritable.


To start saving in Nordea Pension Fund:

  • Apply for 3rd Pillar Pension scheme at any Nordea Customer Service Unit.
  • Make a transfer to the account specified in the agreement; indicate your individual membership agreement number.
  • Create a standing order for not to forget to make the pension contributions.

 
Nordea 3rd Pillar Pension plans are administered by JSC Nordea Latvia Open Pension Fund (Latvijas atklātais pensiju fonds), reg. No. 40103331798, Krišjāņa Valdemāra street 62, Rīga, LV-1013, managed by IPAS Nordea Pensions Latvia, Krišjāņa Valdemāra street 62, Rīga, LV-1013. Assets custodian bank is Nordea Bank AB Latvia branch.

Nordea Progressive Pension Plan:
  • Up to 75% of the assets are invested into equities, namely – stocks and other similar means of investment. The remainder will be invested in fixed-income financial instruments: bonds, deposits of credit institutions.
  • Such investment strategy is suitable for the individuals who expect potentially high return and can accept significant asset fluctuations. This is a pension plan with very dynamic investment strategy.


Nordea progressive pension plan in detail

Nordea Balanced Pension Plan: 

  • Up to 25% of the assets are invested into equities, namely – stocks and other similar means of investment. The remainder will be invested in fixed-income financial instruments: bonds, deposits of credit institutions.
  • This investment strategy is suited to individuals, who are looking for relatively safe and stable, but modest return.

Nordea balanced pension plan in detail