45 and more

You have a huge life experience. We guess you have a responsible approach to your future and take care of it.

If you already saving in the 2^nd and 3^rd pension pillar funds - you are on the right track. Your money is continuously invested. The longer you save, the more money you can expect to accumulate to grow old with dignity.

However, do not forget to check if you ensure maximum saving in the 2^nd pension pillar fund (at the same time, receive maximum state incentive) and is your 3^rd pension pillar saving strategy is adequate – book a consultation here.

You have not started saving yet? We suggest you to consider a possibility to start saving now and to improve your financial situation when retired.

Making regular monthly contributions of EUR 100 into your 3^rd pension pillar fund presuming the average yearly return of 2.5%*, in 15 years you can expect to have extra EUR 19 600 on your pension account. 3^rdpension pillar is attractive for its flexibility – you decide how much, how often, in how many funds to save, how and when to receive benefits.

Your accumulated amount at the age of 65 if you started accumulating at the age of 46, 52 or 60, EUR*

Monthly contribution	46 y. o.	52 y. o.	60 y. o.
EUR 30	8 005	4 933	1 485
EUR 50	13 341	8 222	2 475
EUR 100	26 683	16 443	4 949
EUR 150	40 024	24 665	7 424

* Based on the calculations and presumptions of Luminor pension calculator. Balanced (average yearly return of 4.5%) investing strategy and compound interest principle applied, i.e. when money is earned not only from the initial invested amount but also from accrued interest, were used in the calculations. For more information: luminor.lt/pensiju-skaiciuokle.

The presented results do not include deductions applied by pension funds. Pension fund documents containing comprehensive descriptions of the properties of this product, including characteristic risks and applied deductions are available here.

You have no idea what pension pillars are and if you are their user? We have a short FAQ for you:

What are the differences between 1^st, 2^nd and 3^rd pension pillars?

Lithuanian pension system consists of three pillars:

1^st pillar – state social security pension. 1^st pension pillar is a mandatory part of the saving system and if paying social security contributions, you participate in it. Contributions are converted into points, depending on your salary, while in the future your pension will be determined by the number of points. The amount of a pension paid by SODRA depends also on the ratio between workers and pensioners and economic situation.
2^nd pension pillar – a type of saving for retirement, when money contributions are directly related to the amount of a pension. When saving in the 2^nd pension pillar fund, monthly contributions are transferred automatically. A certain share of your salary, plus the state incentive, are transferred to the pension fund. Differently from the 1^st pension pillar, money deposited in the pension fund is your property and heritable. Are you participating in the 2^nd pension pillar fund? If you work and have not chosen otherwise, most probably you are participating. Find out more
3^rdpension pillar works the same way as the 2^nd pillar, however it is a volunteer saving mode: you can decide on the contribution amount and frequency of contributions. The Government promotes saving by applying 20% tax privilege on paid contributions, which can amount up to EUR 300 per year. Find out more

How do pension funds work?

Pension fund managers invest participants' contributions held in 2^nd pension pillar fund in accordance with the investing strategy. It means that every saved Euro for retirement is invested to earn extra return.

Funds are divided by their investment strategies: In pursuit of optimum return on investment, we suggest choosing the fund according to your age: for younger people, we recommend a fund investing into shares, and closer to the retirement age – into fund with majority of bonds in its assets, and smaller part of shares to reduce short‑term fluctuations of accumulated asset value.

From 2019, the 2^nd pension pillar funds are managed following the life cycle approach. Saving in a pension fund is convenient as it is adapted to your date of birth and selected automatically. The younger you are, the bigger investments into share markets are made in pursuit of bigger return on investment. With the retirement age approaching, the proportion of shares in the fund (and risk) is gradually decreased, while the share of bonds and other safer investment instruments (deposits, money) is increased to protect the saved funds. You are free to choose an investment strategy of your 3^rd pension pillar fund, however we suggest following the same life cycle approach: youngers should choose a fund investing into shares, and with the retirement age approaching – a fund with bigger investment into bonds and smaller into shares.

How much should I save for old age?

To understand what incomes you can expect when retired, you should analyse your present situation. Consider your salary, savings, investments made by now or other assets. All this could help you to assess your financial situation today and to answer the question, how much extra savings you need. According to financial experts, for financially secure old age, you need 70‑80% of your current monthly incomes. With the help of the pension calculator, find out your future pension. Calculate

What if I am self-employed?

If you do not work by employment contract, you should check what potential 1^st pension pillar is forecasted for you and if you can join the 2^nd pillar. It is very likely that for financially secure old age, you will have to rely more on the 3^rd pension pillar funds or other personal savings. More