After the amendments to the Personal Income Tax Law approved by the Seimas, the personal income tax (PIT) benefit for contributions to III pillar pension funds is cancelled for future agreements. For contracts concluded before 31^st of December 2024, and for contributions based on these agreements, paid until 31^st of December 2034, this benefit can still be applied for 10 years. For new contracts concluded from 1^st of January 2025, the PIT benefit will not be applicable.

For those accumulating additional funds in the II pillar pension fund (in addition to the automatic monthly contributions of 3 % of the salary), the PIT benefit for the amount of voluntarily paid additional personal contributions remains valid indefinitely.

Important: Accumulation in pension funds is subject to investment risk, which means that the value of the investment may rise and fall, may recover less money than you have invested. If foreign currency is invested in financial instruments, exchange rate changes may affect the return on investment. Luminor investment management company does not guarantee a return on investment, pension fund profitability, or annuity payments. The past performance of pension funds does not guarantee future results. Before making a decision on accumulating an additional pension in Luminor pension funds, familiarize yourself with the pension fund rules, deductions, investment strategy, and risk factors. Pension funds are managed by UAB “Luminor investicijų valdymas”, registration code 226299280.