About 2nd pension pillar

We take care of your pension

We invest your 2nd pillar pension capital so you could earn as large a future pension as possible.

Why entrust us with building up your savings?

6 pension plans for different age groups: from an active plan to a conservative one
Invariable plan management fees among the lowest in the market – from 0.29% to 0.41%
Investments in carefully selected equity and debt securities or investment funds
Over 50 years of experience in pension management

New! Now you can check your 2nd pillar pension savings via our Internet Banking. Information from latvija.gov.lv is also available if you are saving with another manager.

By applying for the 2nd pension pillar, I agree to my personal data (given name(s), surname, identity number) being made available to the State Regional Development Agency (VRAA) for provision of the respective e-service. The asset manager is Swedbank Ieguldījumu Pārvaldes Sabiedrība AS and the asset custodian is Swedbank AS, having their address at Balasta dambis 1a, Riga, LV-1048. The 2nd pension pillar investment plan prospectuses and historical performance are available here. The appropriate pension plan is determined based on the customer’s age.

Years left until retirement: 0

Define your monthly salary before taxes.

The current accrual is specified according to the average amount of accrual at the particular age based on statistical data from VSAA on 01.07.2023.

Swedbank pension plan comparison

	Convenient choice. Investments change together with your age.	Investment Plan Dynamics The fund’s risk level does not change over time.	Investment Plan Stability The fund’s risk level does not change over time.
Forecasted accrual	0€	0€	0€
Contributions	0€	0€	0€
Profit	0€	0€	0€
	Book a consultation	Book a consultation	Book a consultation

If you have any question, call us by phone on 67 444 444.

Assumptions of calculation

Fill out the 2nd pillar pension plan suitability questionnaire.

Fill out questionnaire

Assumptions of calculation

The calculations are for information only. The calculations are based on the assumption that:

The current 2nd pension pillar accrual is specified according to the average amount of accrual at the particular age based on statistical data from VSAA on 01.07.2023. You can check your current 2nd pension pillar accrual on the portal www.latvija.gov.lv.
Contributions equivalent to 5% of the monthly salary before tax withholdings are applied towards the 2nd pension pillar accrual.
The amount of the expected accrual is indicated before tax withholdings and taking into account a 2% future annual inflation rate. Various types of tax relief are not taken into account in the calculation. The amount of accrual has been calculated assuming that the person starts receiving the pension upon attaining the retirement age of 65 years.
The expected 2nd pension pillar accrual is made with one of the pension plans offered by Swedbank - Stabilitāte, Dinamika or the life-cycle plans 1970+, 1980+, 1990+ with the average notional annual yield on investments in equities being 7% and in bonds being 3%, less the invariable remunerations specified in the price list. The most suitable 2nd pension pillar plan has been determined according to the customer’s age. If the suitable plan is Dinamika, then it is assumed that it will be switched to the Stabilitāte plan 5 years before the retirement age.
The actual pension plan yield may differ from the values used in these calculations and the historical yield does not guarantee an equivalent yield in the future.

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.

Annual report 2019
Annual report 2018
Annual report 2017
Annual report 2016
Annual report 2015
Annual report 2014 (LV)
Annual report 2013 (LV)
Annual report 2012 (LV)
Annual report 2011 (LV)
Annual report 2010 (LV)

Annual report 2009 (LV)
Annual report 2008 (LV)
Annual report 2007 (LV)
Annual report 2006 (LV)
Annual report 2005 (LV)
Annual report 2004 (LV)
Annual report 2003 (LV)
Annual report 2002 (LV)
Annual report 2001 (LV)

Useful information

Prospectuses and key information for the plan participants
Value of pension and investment plans
Notices

Wage policy and practice (LV)
Customer applications and complaints procedure (LV)
Transaction execution policy
Responsible investment policy
Principles for Shareholder Engagement

* Swedbank Ieguldījumu Pārvaldes Sabiedrība AS, unified registration number in the Commercial Register: 40003337582; address: Balasta dambis 15, Riga, LV-1048.
3rd pension pillar – the pension plans offered by the private pension fund Swedbank Atklatais Pensiju Fonds AS, address: Balasta dambis 15, Riga, Latvia: Stability+25, Dynamics+60, Dynamics+100 and Dynamics+USD.
The asset manager for the 2nd and 3rd pension pillar - Swedbank Ieguldijumu Parvaldes Sabiedriba AS, the asset custodian - Swedbank AS, 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.

About 2nd pension pillar

That’s 5% of each of your salary, automatically directed to the 2nd pension pillar to build savings for your retirement. When you retire, the 2nd pension pillar will be a significant source of your income.

Find out more about pension savings

The money is invested in financial markets with the aim of growing it over the long term to increase your income in old age.

Pension plan performance
Investment lists

You can check your 2nd pillar pension savings via:

Internet Banking
latvija.gov.lv

Your 2nd pillar pension savings are managed by Swedbank Ieguldījumu Pārvaldes Sabiedrība AS in cooperation with Swedbank Robur Fonder AB, a Swedbank Group company:

An experienced team of professionals
A track record of more than 50 years in the business
An internationally acclaimed fund manager

Learn more

About switching the plan

You can switch the manager of your 2nd pillar pension investment plan once per calendar year, and the investment plan with your current manager – twice per year. The plan can be switched at the portal latvija.gov.lv:

Log in to latvija.gov.lv
Select “Investment plan”
Important! Go to the end of the list and choose a Swedbank investment plan that's most appropriate for you
Make sure that Swedbank Ieguldījumu Pārvaldes Sabiedrība AS is selected under “Investment plan asset manager”
Check the data and press “To submit an application”

If you’re born after 1 July 1971, you’re automatically a participant in the 2nd pension pillar.
If you’re born between 2 July 1951 and 1 July 1971, participation in the 2nd pension pillar is voluntary.

Remember:

You can switch your pension manager once a year.
You can switch your pension plan twice a year.

Choose or switch 2nd pillar pension plan

There are two options. You can:

Add the capital accrued in the 1st pension pillar and receive pensions from both pillars together every month.
Sign a life annuity insurance contract, entrusting the capital accrued in the 2nd pension pillar to an insurance company of your choice, and receive a pension from the 2nd pillar at a fixed regularity.

In both cases, the payout of the requested 2nd pillar pension is guaranteed in a fixed amount until the end of your life.

Good to know! You can designate any person as the beneficiary in the life annuity insurance contract. The beneficiary is paid the life pension payable to the insured person from the date of the insured person's death until the end of the life pension guaranteed payout period.

More information on the payout of 2nd pillar pension capital is available at the State Social Insurance Agency (VSAA).

About inheriting

Yes, the 2nd pillar pension capital is inheritable. Each 2nd pension pillar participant who has not yet claimed their old-age pension can choose one of the three options for using their accrued capital in case the participant dies before attaining the retirement age.

You can choose to:

Have the capital transferred to the state pension special budget. The accrued capital will be taken into account in the calculation of the survivor's pension for persons who were the participant's dependants.
Add the capital to a specific person’s 2nd pillar pension capital.
Leave the capital as inheritance according as laid down in the Civil Law

Note! If no choice is made, the savings will be transferred to the state pension special budget.

Choose the option for bequeathing your 2nd pillar pension capital that best suits your life situation.

If you have started working, you can initially choose to leave your 2nd pillar pension capital as inheritance as laid down in the Civil Law, or to bequeath it to a designated person.
Once you have a family and children, you can choose to have it transferred to the state pension special budget to be taken into account in the calculation of the survivor's pension.
When the children get older, you can again choose to leave the capital as inheritance according to the procedure laid down in the Civil Law, or to bequeath it to a designated person.

You can change your choice an unlimited number of times on the latvija.gov.lv portal or at the State Social Insurance Agency (VSAA). The VSAA will take the latest choice into account.

Log in to the portal latvija.gov.lv and go to "Services" > "Application for inheritance of capital accumulated in the 2nd pension pillar".
Agree to the terms and click on "Request service".
In the list of services, select “For the inheritance of the accrued capital of 2nd pension pillar”.
Choose one of the three options.

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.

Climate solutions

Your investments support companies with transition plans for climate solutions to reduce greenhouse gas emissions.

Local investments

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

Progressive society

You invest in the protection of health, the development of new technologies and the improvement of the quality of life.

We asked pension savers how they would allocate 1000 euros for sustainability-promoting investment. Here are their answers.

{ "xAxis": { "visible": "true", "categories": [ "Healthcare development", "Protect natural resources", "Improving quality of life", "New technologies", "Climate protection", "Digital Safety", "Biodiversity", "Gender equality, diversity & human rights" ], "labels": { "style": { "textOverflow": "none" } } }, "yAxis": { "visible": "true", "labels": { "format": "{value} €" }, "title": { "enabled": false } } }

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.

Source: World Federation of Exchanges

CO₂ Emissions
Energy usage
Natural resource usage
Waste and pollution
Climate change mitigation

Employee health & well-being
Human rights
Gender equality
Non-Discrimination
Fair pay

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.

Service	Price
Using
Fees from savings (per year):	Pension investment plan
Fees from savings (per year):	1990+	1980+	1970+	Dynamics	Stability	Dynamics Index
- Invariable remuneration	0.408% Including invariable remuneration: - to the asset manager 0.35% - to custodian bank 0.058%	0.408% Including invariable remuneration: - to the asset manager 0.35% - to custodian bank 0.058%	0.408% Including invariable remuneration: - to the asset manager 0.35% - to custodian bank 0.058%	0.41% Including invariable remuneration: - to the asset manager 0.36% - to custodian bank 0.05%	0.378% Including invariable remuneration: - to the asset manager 0.32% - to custodian bank 0.058%	0.288% Including invariable remuneration: - to the asset manager 0.23% - to custodian bank 0.058%	The fee is deducted automatically from the accrued amount.
- Variable remuneration to the asset manager	up to 0.05%	up to 0.05%	up to 0.05%	up to 0.05%	0%	0%	The amount of the variable remuneration depends on the pension plan management result and is calculated as set forth in the state-funded pension law.
Switching the plan	Free of charge
Closing
Switching the management company	Free of charge

In addition, other expenses for trading and investment plan management up to 0.05% per year are deducted from investment plan assets. Actual deducted expenses see in Quarterly reports

Effective from 01.04.2025

Relevant!

The future is unpredictable, but it can be taken care of - by starting to save with Swedbank’s 3rd pension pillar today.

New!

Investing is completely effortless. Your investments will be automatically topped up with a small amount from each card payment.

Build up savings for your child’s future now! You'll get life insurance while your child will have savings for starting an independent life.

Feeling confident and safe in any life situation is possible if you have a sufficient financial safety net!

Hold on!
latvija.gov.lv will open shortly

To switch the plan:

Log in to latvija.gov.lv
From the list of applications, select “For selection or change the investment plan of state funded pension 2nd pension pillar” and press “Next”
In the “Investment plan” section, choose Swedbank investment plan appropriate for your age
Fill out the required contact details, confirm, press “Next” and “To submit an application”

Continue

If the portal latvija.gov.lv does not open automatically, press “Continue”.

The asset manager is Swedbank Ieguldijumu Parvaldes Sabiedriba AS and the asset custodian is Swedbank AS, both headquartered at Balasta dambis 15, Riga, LV-1048. The 2nd pillar pension investment plan prospectuses, the key information for participants, and the performance data are available here. The most appropriate pension plan is determined based on the customer’s age.

Not a customer yet?

About 2nd pension pillar

We take care of your pension

Swedbank pension plan comparison

Investment Plan Dynamics

Investment Plan Stability

About pension plan

Swedbank Investment Plan 1990+

year return*

0.00

Swedbank Investment Plan 1980+

year return*

0.00

Swedbank Investment Plan 1970+

year return*

0.00

Dynamics

year return*

0.00

Stability

year return*

0.00

Dynamics Index

year return*

0.00

Assumptions of calculation

Useful information

Swedbank Investment Plan 1990+

About 2nd pension pillar

About switching the plan

About inheriting