Luminor Supplementary pension

Would you survive on 44 %?

Would you survive on 44 %?

  • Choose 3rd pension pillar and contribute to your retirement income
  • It is easy to choose the most suitable pension fund

Getting ready for your future?

Important information
 
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 31st of December 2024, and for contributions based on these agreements, paid until 31st of December 2034, this benefit can still be applied for 10 years. For new contracts concluded from 1st of January 2025, the PIT benefit will not be applicable.

Accumulated assets are inherited

Solid long-term investment results – for example, Luminor ateitis 16-50 generated a return of 7.99 % on average in the last 10 years*

Choose a more sustainable way of saving for pension

From 18 May, 2023, we changed the names of Luminor's supplementary voluntary pension accumulation (III pillar) funds. In the names of pension funds, we indicated the age of the clients, according to which it is recommended to choose a particular pension fund or make a switch:
  • Luminor pensija 1 plius becomes Luminor ateitis 58+
  • Luminor pensija 2 plius becomes Luminor ateitis 50-58
  • Luminor pensija 3 plius becomes Luminor ateitis 16-50
The purpose of the amendments is to make the easier decision for clients to choose an additional voluntary pension accumulation (III pillar) fund that is able to best meet the expectations of clients and take on the appropriate level of risk, which allows them to use their full investment potential. The funds' investment strategies, fees, and other details remain unchanged.

Choose the most suitable savings strategy for you

Age of saver Proportion of shares* Pension plan / strategy **
16-50 years Up to 100 % Luminor tvari ateitis index
16-50 years Up to 100 % Luminor ateitis 16–50
50-58 years Up to 50 % Luminor ateitis 50–58
Older than 58 years No investment into shares Luminor ateitis 58+
* Proportion of shares – the maximum limit for investing pension plan funds in equity securities – company stock and other similar types of investments.
** You can choose to make contributions to one or more pension plans depending on your investment maturity and the most suitable proportion of shares.

Choose a pension fund:

Luminor tvari ateitis index

  • Fund is a high-risk fund with up to 100 percent assets can be invested in stock markets.
  • The global direction of the equities has been chosen, the long-term return of which is more stable compared to the return of funds established on a sectoral or regional basis.
  • Suitable for 16y-50y savers who seek high ESG* standards for their pension savings

Created for savers looking for potentially higher return in long-term perspective and assuming big fluctuations in value.

Learn more

* Pension fund invests its assets only in equity index funds that invest in companies with higher-than-average scores in Environmental, Social, and Governance (ESG) ratings, excluding companies that are involved in business activities associated with negative environmental or social impact. In addition, investments in the fossil fuel sector and companies involved in controversial activities are excluded or as a minimum significantly reduced. By applying exclusion criteria and investing only in companies with strong ESG ratings pension plan investments constitute only the best 25% of the broad market universe in terms of ESG performance. ESG rating is designed to measure a company’s resilience to long-term, industry-material ESG risks. The rules-based methodology is used to identify industry leaders and laggards according to their exposure to ESG risks and how well they manage those risks relative to peers (source: msci.com).

Luminor ateitis 16–50

  • Up to 100 % of assets can be invested in stock markets.
  • High-risk fund.
  • Suitable for 16y-50y savers

Created for savers looking for potentially higher returns in a long-term perspective and assuming big fluctuations in value.

Luminor ateitis 50–58

  • Maximum 50 % of assets can be invested on stock markets.  
  • Medium risk fund.
  • Suitable for 50y-58y savers

Created for savers looking for the balance combination of return and risk.

Luminor ateitis 58+

  • No investment into shares
  • Low risk fund
  • Suitable for savers that are older than 58y

Created for savers looking for maximum preservation of their property value, however with potentially lower return.

Luminor pension funds

Why save in the III pension pillar? Frequently asked questions

What is important to know about the changes for those accumulating in III pension pillar?

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 31st of December 2024, and for contributions based on these agreements, paid until 31st of December 2034, this benefit can still be applied for 10 years. For new contracts concluded from 1st of January 2025, the PIT benefit will not be applicable.

By concluding III pension pillar contract before the end of this year, it is possible to take advantage of the personal income tax relief and recover up to 20 % of the contributions made during the calendar year to III pillar pension funds, not exceeding 25 % of the annual salary, but not more than EUR 1,500. In this way, a total of up to EUR 300 per year (up to EUR 3,000 in 10 years) can be recovered.

What do the numbers in the titles of pension funds mean?

The numbers indicate the age of persons, whose expectations could be met most accurately by choosing this fund, taking into account the individual's life cycle.

It is recommended to review your personal strategy for the third pension pillar savings regularly, considering the risk level of the pension fund, your age, and your expected investment return. As retirement age approaches, it is recommended to consider switching the fund to a more conservative "Luminor ateitis 58+" in order to reduce potential investment risk.

Why is it important to choose a right fund for your age for your pension savings?

When saving for retirement, it is important to choose an investment strategy that fits your goals. The chosen strategy plays an important role in determining the potential performance of your investment.

Why should young people have funds with a higher proportion of stocks in it?

The basic rule for choosing a long-term investment strategy is that younger people should invest in the most aggressive funds, which have maximum equity proportions and also the greatest return potential. The reason behind it is that historically stocks have proven to have a higher return than bonds, but they are also riskier – meaning their value can also fall more during turbulent times.

When should I change my pension fund strategy?

Our recommendation is that you change your pension fund when you reach closer to retirement age. Then it is time to gradually scale down the risk by moving to the next fund based on your age.

Is it possible to withdraw funds from the III pillar pension funds before reaching retirement age?

Yes, it is possible, but it is very important to familiarize yourself with the pricelist of pension funds and other taxation conditions. Funds withdrawn from the III pillar pension funds will not be subject to income tax if all below conditions are met:

  • The participant has reached the minimum retirement age* (5 years lower than the old‑age pension age),
    AND
  • The validity period of the pension fund contract is not less than 5 years from the first payment.

More information is in Article 17 of GPMI.
 
*Also, when the contract was concluded before 2012 12 31 and the person has reached the age of 55, or when the customer has 0‑25 % or 30‑40 % disability.

Important! The information presented on this page is of a promotional nature. This information cannot under any circumstances be treated as an individual consultation of a potential or existing pension fund participant, or as a personalized or targeted group offer to invest in pension funds . UAB “Luminor investicijų valdymas” uses generally recognized and reliable sources to provide statistical information, but under no circumstances can we be held responsible for inaccuracies or changes in these sources, if any.
 
Accumulation in pension funds is subject to investment risk, which means that the value of the investment may rise and fall, and you may recover less money than you have invested. The level of investment risk depends on the chosen pension fund. More detailed information about the level of investment risk of each pension fund can be found in the description of each pension fund. If investments are in foreign currency, exchange rate changes may affect return on investment. UAB “Luminor investicijų valdymas” does not guarantee return on investment, pension fund profitability or annuity payments. Past performance of pension funds does not guarantee future results. Before making a decision on accumulating an additional pension in Luminor pension funds, please assess the risk, familiarise yourself with the pension fund rules, deductions, the investment strategy and risk factors.
 
Pension funds are managed by UAB “Luminor investicijų valdymas”, registration code 226299280.