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All services / Pension / 3rd pillar pension |
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The third pillar pensions provide that everyone can on voluntary basis accrue additional funds for his/her old age pension, thus increasing his/her welfare in the second half of his/her life. Starting from 2003 Swedbank Open Pension Fund offers the opportunity to accrue one’s private pension by using the tax allowances stipulated by the law and experience and opportunities in investment management offered by Swedbank Group. The private pension fund is governed by the Law “On Private Pension Funds”. Tax allowances are stipulated in the Law “On Residential Income Tax ” and in the Law “On State Social Insurance”. Thanks to the tax allowances , it is possible to substantially increase the welfare level without increasing expenses of the employer and without reducing personal expenditures. In case a contribution into the pension fund is made by the employer under the collective or individual participation agreement, this contribution in the amount of up to 10% of the employee’s gross salary is not levied with social and resident income tax (salary tax). The capital of private pensions is accrued with the intermediary of pension plans. Swedbank Open Pension Plan offers four pension plans: Note! 3rd pillar pension savings are related to financial instruments, the change in prices of which is subject to fluctuations on the financial markets and such other circumstances, which are beyond reasonable control of the bank. The historic yield of a financial instrument is not a guarantee for an equivalent yield in the future.
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