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.