We - Swedbank Ieguldījumu Pārvaldes Sabiedrība AS* - are the largest 2nd pillar pension manager in Latvia: as of end of June 2019, the number of participants of our managed 2nd pillar pension plans exceeded 538,000 and the amount of assets under management was over 1.68 billion euros. We offer to our clients the conservative Swedbank pension asset investment plan Stabilitāte (Stability), the active Swedbank pension asset investment plan Dinamika (Dynamics), as well as active life-cycle funds for broad range of age groups: Swedbank investment plans "1970+", "1980+" and "1990+". We also are managing assets of Swedbank 3rd pillar pension plans. We are the only 2nd pillar pension manager in Latvia who has so wide range of lifecycle plans.
We act as a responsible fund manager and consider the potential long-term impact of our investment decisions on environmental, social and corporate governance factors. We are actively involved in promoting sustainability, calling on companies and investment funds to respect and promote sustainable action. We refrain from direct invetsments in companies that do not comply significantly with the principles of sustainability in their activities.
Our managed pension plans have repeatedly been awarded as the best ones in several categories in Central and Eastern Europe by the Investment and Pensions Europe (IPE). Swedbank's 2nd pillar pension plan Dinamika was recognized by IPE as the best one in Central and Eastern Europe in 2013, 2016 and 2017, whereas in IPE's Real Estate Global Awards 2016 Swedbank's 3rd pillar pension plan Dinamika+60 received an award as the best investor in real estate among Eastern European and several big Western European countries.
We are a subsidiary of Swedbank Robur AB (Sweden), a Swedbank Group company. We manage assets in cooperation with one of the largest asset management companies in the Nordic region Swedbank Robur Fonder, which is active since 1967 and is also a Swedbank Group company. Hence, the 2nd and 3rd pillar pension assets are managed drawing on Swedbank Robur Fonder's vast experience in international markets, combining it with our local market expertise.
Useful information
* Swedbank Ieguldījumu Pārvaldes Sabiedrība AS, unified registration number in the Commercial Register:
40003337582; address: Balasta dambis 15, Riga, LV-1048.
Swedbank Investment Plan 1990+
Designed specially for those born in/over the year 1990, allows a more active investment strategy. The plan is suitable also for participants with appetite for higher investment risk.
The only plan in Latvia where investment risk gradually decreases depending on the savings time horizon. The plan strives to create as large savings as possible for the old age, while maintaining investment safety as the time of withdrawing the funds approaches.
At the start of the plan, the permitted weight of exposure to equities will range between 55% and 75% whereas closer to the date of exiting the plan will fluctuate between 0 and 15% in order to achieve optimum investment performance throughout the saving period.
"Swedbank Ieguldījumu Pārvaldes Sabiedrība" AS, the pension fund manager, offers different pension plans. Select a pension plan that suits you best!
You can check your 2nd pension pillar accrual via the portal latvija.gov.lv.
See 1st and 2nd pension pillar accrual
In managing pension investments, we strive to grow your savings in the long-term, so we invest the assets in hand-picked companies, government securities and real estate funds.
Pension plan performance Investment lists
Money under your 2nd pension pillar will accrue for many more years to come, so safety is key. Swedbank is a bank with history dating back nearly 200 years. For additional safety, 2nd pillar pension accrual is held sparely from the assets of the management company or the bank.
It’s the money you’ll receive when you retire. Currently, 6% of your gross salary goes to 2nd pension pillar without any extra cost to you. When you retire, the 2nd pension pillar will be a significant source of your income.
Find out more about pension savings
If you’ve born after 1 July 1971, then you’re automatically a 2nd pension pillar participant. For those born between 2 July 1951 (inclusive) and 1 July 1971 (inclusive), participation in 2nd pension pillar is voluntary. The 2nd pension pillar manager may be changed once per calendar year and the pension plan - twice a calendar year.
Choose / change 2nd pillar pension plan
Money under your 2nd pension pillar will accrue for many more years to come, which makes it important to entrust their management to an experienced and professional management company. Our pension plan assets are managed in cooperation with Swedbank Robur which is an internationally acclaimed asset management company with over 50 years of experience.
Find out more about the management company
Your pension power
Swedbank pension plans promote environmental and social characteristics. Sustainable value creation refers to our ambition to create long-term returns for our customers, while also contributing to a positive development of the society and the environment.
Reducing CO2 emissions
Your investments encourage companies to reduce CO2 emissions and transform businesses into more sustainable ones.
Read more
Climate solutions
Your investments support companies with transition plans for climate solutions to reduce greenhouse gas emissions.
Read more
Local investments
By investing in local businesses, you help them grow, innovate and strengthen the regional economy.
Read more
Progressive society
You invest in the protection of health, the development of new technologies and the improvement of the quality of life.
Read more
We asked pension savers how they would allocate 1000 euros for sustainability-promoting investment. Here are their answers.
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Source: Swedbank survey 2022
Support sustainability with your pension savings
If your money is invested through pension savings in businesses that have a positive impact on the environment and society, it contributes to social and environmental well-being and responsible business.
Click on different areas to find out the impact.
Source: World Federation of Exchanges
Environment
CO2 Emissions
Energy usage
Natural resource usage
Waste and pollution
Climate change mitigation
Society
Employee health & well-being
Human rights
Gender equality
Non-Discrimination
Fair pay
Governance
Business ethics
Transparency
Anti-corruption
Reporting
Responsible suppliers
Tips to get you started
Follow your values by choosing a pension provider with sustainability ambitions. As of 30.06.2023 Swedbank pension plans have invested:
284 million euros to funds that follow environmental, social and governance principles (ESG aspects).
2.4 billion euros in stock and bond baskets filtered with ESG aspects.
Keep track of which areas your pension plan supports. We choose very carefully where to invest your pension money. Read about our Responsible Investment Policy here .
Make sure your pension savings are invested with a sense of responsibility for the fate of the world. The average ESG rating of our pension plans is AA (source: MSCI, 2Q 2023).
Documents and information which are published 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 .
Reducing CO2 emissions
Reducing CO2 emissions is one of the most important goals for both the whole world and us. Part of your retirement savings is invested in companies that contribute to the reduction of carbon emissions.
Such companies tend to be more innovative, efficient and profitable as they are looking for more sustainable ways of using energy, water, production materials or recycling waste.
The emission intensity of our pension plan portfolio is 60 tonnes , which is almost 2.2 times lower than the market average of 135 tonnes .
CO2 intensity*
* CO2 tonnes of emissions /mln USD sales (Source: MSCI; data as at end Q2 2023)
Climate solutions
When you invest in climate solutions, you support businesses with transitional plans for reducing greenhouse gas emissions, as well as the growth of the renewable energy sector by planting forests, developing climate-friendly buildings or contributing to energy efficiency solutions.
Transition opportunities in our pension plan portfolio:*
Power generation – 28.6% of this comes from renewable energy sources (fuel breakdown, % of amount generated)
Companies with greenhouse gas emission reduction targets – 57.9%
These investments not only reduce climate change, but also support the development of innovative technologies, create green jobs and strengthen the economy.
* Source: MSCI; data as at end Q2 2023
Local investments
We are the largest local investor among pension fund management companies in Latvia.
187 million euros * - this is the value of Swedbank’s pension plan investments in the development of Latvian business through alternative investment funds, equities, and bonds.513 million euros * - investments in Baltic businesses.
* Data from Swedbank Ieguldījumu Pārvaldes Sabiedrība as at end Q2 2023
Progressive society
The value of Swedbank’s pension plan investments in the health and technology sector amounts to about 538 million euros*.
ESG (environmental, social and governance) driver performance and distribution in pension plans:
Healthcare sector rating – 88.3%** of healthcare industry companies are rated between A and AAA (a rating between A and AAA, according to MSCI's methodology, represents a high-quality company that contributes to sustainability factors).
Technology sector rating – 83.3%** of technology industry companies are rated between A and AAA.
By investing in the healthcare industry, you contribute to the development of pharmaceuticals, biotechnology, healthcare equipment and technologies (e.g., medicines, medical equipment, diagnostics, etc.).
The information technology industry contributes not only to a more comfortable everyday life (e.g., robotics, the Internet of Things), but also to reducing emissions as digital solutions could potentially reduce global emissions by up to 20% (source: World Economic Forum).
* Data from Swedbank Ieguldījumu Pārvaldes Sabiedrība as at end Q2 2023
** Source: MSCI; data as at end Q2 2023
Upon old-age retirement, the capital accrued under 2nd pension pillar may be accessed:
by adding the pension to the capital accrued under the 1st pillar and receiving pension payments under both pillars each month together, or
by taking out life pension insurance policy (‘life annuity contact') where the capital accumulated under the 2nd pension pillar is entrusted with an insurance company of your choice and the pension is paid from the 2nd pillar with set regularity (on a monthly, quarterly, annual basis).
In both cases payout of the requested pension continues in the agreed amount until the end of the participant's life.
A beneficiary, who may be any person, can be named in the life annuity contract. From the day of death of the insured person (‘the annuitant') until the end of the guaranteed annuity payout period, the beneficiary is paid the annuity that the annuitant was entitled to.
Further information on payout of 2nd pillar pension is available from the State Social Insurance Agency (VSAA).
Starting from 1 January 2020, 2nd pension pillar participant who has not yet claimed an old age pension will be able to choose one of the three options for using their accrued capital which will take effect in case the participant dies before the old age pension is granted. More detailed information is available in the section About inheritance.
