Service provided by Citadele Group businesses: the 3rd pension pillar by AS “CBL Atklātais pensiju fonds”, and the life insurance with savings by AAS "CBL Life".

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Attractive employer

Regardless of whether you are a small or large business, you can choose either a 3rd pillar pension or life insurance with savings. These motivation tools don’t just help give employees a sense of safety for the future, they also ensure your business stays competitive by attracting talent.

3rd Pension Pillar

Suitable for businesses which are thinking about retaining their employees long term and want to strengthen their image as a responsible employer.

  • Economising business funds
    Receive tax rebates and make payments better value for both the business and your employees.
  • Pension savings
    Provide a special savings plan for your employees in addition to their state pension.
  • Strengthening loyalty
    Encourage employees to stay with the company for as long as possible.

Pension plans


  • Passive management with the aim of reducing expenses related to management.
  • Up to 100% of capital is invested in global stock markets.
  • Reflects specific market indices.
  • Uses the potential growth of market indices.
  • High risk for potentially higher returns.
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  • Active management.
  • With higher risk for potentially higher returns.
  • Diversified investment portfolio.
  • Up to 100% of plan assets may be invested in debt securities.
  • Up to 50% of plan assets can be invested in term deposits of credit institutions.
  • Up to 50% of plan assets can be invested in shares, venture capital market, real estate and various investment funds.
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  • Active management.
  • With little risk to gain potentially more stable and safer capital growth.
  • Diversified investment portfolio.
  • Up to 100% of plan assets may be invested in debt securities.
  • Up to 50% of plan assets can be invested in term deposits.
  • Up to 25% of plan assets can be invested in shares, venture capital market, real estate and various investment funds.
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Life insurance with savings

Suitable for businesses who want to build savings for their employees over a specific period of time, and then pay the savings out.

  • Optimising your business finances
    Take advantage of tax benefits.
  • Flexible payments
    Adjust the contribution amounts tailored to each employee and the company's financial situation.
  • Additional protection
    Insure the lives of your employees and also build savings for their futures. The policy can also include accident and disability insurance.
  • Employee loyalty
    Encourage employees' interest in staying with the company longer.

Comparison of savings options

Accumulative life insurance 3rd Pension Pillar
Free choice of contribution size Free choice of contribution size
Minimum agreement term: 10 years Saved capital can be paid to your employee from age 55, or saving can continue
While building savings, you can also provide financial support to your employee and their family in case of accident Saved capital can be paid out all at once or in parts
Option to add beneficiaries Savings can be inherited
Savings remain property of the business until the end of the contract Savings become property of the employee from the moment contributions are made
Accumulative life insurance
Free choice of contribution size
Minimum agreement term: 10 years
While building savings, you can also provide financial support to your employee and their family in case of accident
Option to add beneficiaries
Savings remain property of the business until the end of the contract
3rd Pension Pillar
Free choice of contribution size
Saved capital can be paid to your employee from age 55, or saving can continue
Saved capital can be paid out all at once or in parts
Savings can be inherited
Savings become property of the employee from the moment contributions are made

Impact of taxes on costs

Wage increase of 100 EUR/mo. (net) Savings payment of 100 EUR/mo.
Employer’ social tax 23.59% 0 EUR
Employee social tax 10.50% 0 EUR
Income tax 20% 0 EUR
Total paid out from wage fund 172.61 EUR 100 EUR
Wage increase of 100 EUR/mo. (net)
Employer’ social tax 23.59%
Employee social tax 10.50%
Income tax 20%
Income tax 172.61 EUR
Savings payment of 100 EUR/mo.
Employer’ social tax 0 EUR
Employee social tax 0 EUR
Income tax 0 EUR
Income tax 100 EUR
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Don’t know what to pick?

Apply for a consultation and find out which savings tool for employees best suits the aims of your business and the preferences of your employees.

Apply for a consultation

Didn’t find the answer to your question?

Visit our interactive assistant and find the information you need

Interactive assistant
How do I set up a 3rd pension pillar agreement?

If you want to build future savings by making 3rd pension pillar contributions with CBL Atklātais pensiju fonds, you can enter into an individual membership agreement.

You can set up an agreement through the Online Bank (see instructions below) or in any Citadele branch by making an appointment for a visit in advance (click here to make an appointment). You can also apply for a telephone consultation by calling  +371 6701 0000.

To draw up an Individual Membership Agreement for the 3rd pension pillar, log in to the full version of the Online Banking.

In the section Pension > 3rd pension pillar, select “Enter into a new agreement”.

   – Required fields are marked with a red asterisk.
   – Choose one of the Pension Plans. Information about the plans can be viewed here.
   – Check whether all the information in the section “Pension plan participant” is correct, and if necessary, correct it.

If you want another person to be able to make contributions to your 3rd pension pillar agreement, be sure to enter this person’s information in the next section.

In the section “Regular payment”, indicate the amount and frequency of your planned contributions.

If you want the payments to be made from your account automatically, select the answer “Yes” to the question “Do you want to issue an order for the regular payment of a fixed amount?”. Then select the account from which you would like payments to be made, and specify the payment date.

You can change the amount and frequency of your regular payment at any time through the Online Bank under Payments > Regular payments.

Click “Next”.

Check the information entered. If you want to change the information in any of the fields, press the button “Back”.

To continue and sign the agreement, please:
1. read the important information and terms;
2. tick that you have read the information;
3. sign the agreement with a code from your authorization device.

You can monitor the status of your order in the section “Document History”.

What are the tax benefits when making 3rd pension pillar contributions?

If you make contributions into your 3rd pension pillar yourself, then you can receive a 20% personal income tax (PIT) refund every year for the previous calendar year’s contributions. In this case, total contributions for the calendar year may not exceed 10% of the gross income received during that year, and no more than 4000 EUR per year. More information in the section on personal income tax refund.

How to add/change a beneficiary?

A beneficiary is the person entitled to receive capital in the event of the customer’s death.
To add/change a beneficiary for your 3rd pension pillar savings, log in to the full version of the Online Bank.

Select “Correspondence with the bank” > “Order to the bank”. Copy the template below, insert it in the text of the order, and enter the required information:
1. pension plan;
2. agreement number;
3. information about the beneficiary.
You can specify one or more beneficiaries, each with a percentage of the bequest (the total must be 100%.)
Note that if you specify a different beneficiary, the previously specified beneficiary is automatically cancelled.

If you do not have access to the Online Bank, book a branch visit here.

Template

Application on the person (s) entitled to the accrued supplementary pension capital in the event of the Participant’s death

Pension plan: (CBL Sabalansētais/ CBL Aktīvais/ CBL Aktīvais USD/ CBL Indeksu)
Individual agreement No./Company name:
Phone number:
Person (s)* entitled to the accrued Supplementary Pension Capital in the event of the Participant’s death**: Name, surname; personal identification code***; the person’s relationship with the pension plan participant; phone number; share, % (total 100%).

* when deciding on the person (s) entitled to their Supplementary Pension Capital in the event of the Participant’s death, the Participant at the same time revokes all previous instructions regarding the recipients of their 3rd pension pillar capital, if any.
** The Participant is responsible as the personal data overseer for transferring the personal data of these persons to the Pension Fund.
*** When nominating a person who has not been assigned a personal identification code by the Republic of Latvia, please indicate their date of birth, plus the document number, expiry date, issuing country, and issuing institution of their identification document. A copy of this person’s identification document must be attached.

Can I stop contributing to the 3rd pension pillar?

Yes, any participant may freely choose to reduce or suspend contributions, or to terminate them altogether. Investment results will be calculated every month for the amount already paid into the pension plan. Remember that you can restart your contributions at any time after stopping. Stopping and restarting your contributions does not require permission from CBL Atklātais pensiju fonds.

Business customers: How to draw up a collective membership agreement?

If you, as an employer (legal entity), want to build future savings for your employees by making 3rd pension pillar contributions through CBL Atklātais pensiju fonds, it is possible to set up a collective membership agreement.

You can draw up an agreement at any Citadele branch by making an appointment for a visit in advance (click here). You can also apply for a telephone consultation by calling the bank on +371 6701 0000.
 

Do I have to pay taxes on my 3rd pension pillar capital upon withdrawal?

Personal income tax will not be deducted from accumulated pension capital that is formed of your own contributions, but personal income tax will be deducted from your employer's contributions to your pension fund savings.

Your investment results at the time of disbursement — calculated as a result of how your pension plan assets were managed — will be subject to a 20% tax on capital gains. The tax will be withheld by CBL Atklātais pensiju fonds when the assets are disbursed.

How can I find out what is happening with my accrued 3rd pension pillar capital?

Pension plan participants who use Citadele Online Banking can oversee changes to their accumulated pension capital through the Online Bank. 

Once a year, CBL Atklātais pensiju fonds sends a report on the specific account, including information on contributions and withdrawals made that year, commission deductions, investment performance, and other information through the Citadele Online Bank (at the customer’s request, this can also be sent by email or mail). 

Participants can obtain information about their accumulated capital in person at any Citadele Customer Service Centre after presenting an identity document.

How do I access my 3rd pension pillar savings?

The pension fund participant can submit a free-form order for the disbursement of their 3rd pension pillar savings, including: 
1. The pension plan from which savings are to be paid out;
2. The pension plan participant’s personal information and contact information, or that of their beneficiary / nominated person; 
3. The reason for requesting the capital;
4. The disbursement method (bank account information);
5. The amount to be disbursed and the further actions to be taken with the pension agreement (cancellation or continuation).

The application must include copies of the documents which confirm your right to use the 3rd pension pillar capital. 

Otherwise, you can present your personal identification document at any Citadele Customer Service Centre, first booking an appointment here, and fill out an application for disbursement of your 3rd pension pillar capital.

Your 3rd pension pillar capital can be disbursed all at once, or in instalments over a longer period. 3rd pension pillar capital is paid out by transfer to any bank account.

If the pension fund member does not have a current account with any bank, the 3rd pension pillar capital can be paid to a Citadele current account opened free of charge. 3rd pension pillar capital is disbursed within two weeks of receipt of the application by CBL Atklātais pensiju fonds, as long as all the necessary information has been submitted by the participant.

When can I access my accumulated pension capital?

3rd pension pillar capital is available at the age of 55.

In some cases, 3rd pension pillar capital may also be paid out earlier:

  • if the member has been employed for a certain period in a profession included in Cabinet Regulation No. 46 dated 01.08.2020. More information here;
  • if the member is recognized as a Group 1 disabled person for life;
  • to the heir or named beneficiaries in the event of the death of the pension plan member.

Can accumulated 3rd pension pillar capital be inherited?

In the event of the death of the participant, their heirs are entitled to their accumulated 3rd pension pillar capital, unless the participant has specified another person (or several persons) who is not their next of kin for inheriting their 3rd pension pillar capital as part of their pension plan agreement.

Can I change my pension plan and pension fund?

Pension fund participants may transfer their 3rd pension pillar capital to another pension plan or pension fund at any time. The order will be executed within two weeks after all necessary documents have been received by AS CBL Atklātais pensiju fonds.

How do I transfer my funds to a different 3rd pension pillar plan?

You can request the transfer of your existing 3rd pension pillar savings to another pension plan of your choice by submitting an order through the Citadele Online Bank: 

  1. log into online banking;  
  2. at the top, above the menu bar, select Correspondence With Bank; 
  3. on the left, select New Order;  
  4. an order number will appear automatically, but you must fill in the remaining fields yourself:  

Topic: Order for pension plan change  
Account number for authorisation: (select your current account)  
Order text: Please transfer the capital from my 3rd pension pillar plan CBL [current pension plan] (individual agreement number XX-XXXXXXXXXXX) to my 3rd pension pillar plan CBL [new pension plan] (new individual agreement number XX-XXXXXXXXXXX). 

Press “Next” and authorise the order.

How do I change my CBL 3rd pension pillar plan?

To change your pension plan, you must sign a new 3rd pension pillar agreement, choosing one of our plans: CBL Indeksu, CBL Aktīvais, CBL Aktīvais USD or CBL Sabalansētais. Find out more on how to sign a 3rd pension pillar plan agreement here.

What is the minimum contribution amount? Do I have to make payments regularly?

There are no requirements for how regular payments should be. You can make contributions whenever you wish, and set the best amount and frequency for you. Remember: the sooner you start making contributions, the larger your savings will be.

What are the guarantees for the security of the funds invested in pension plans?

Legislation requires that pension fund members’ cash and other assets be kept off the bank’s balance sheet by both the pension fund (AS CBL Atklātais pensiju fonds), the asset manager (IPAS CBL Asset Management), and the asset custodian (AS Citadele Banka).
3rd pension pillar capital saved in an individual account cannot become the property of the asset manager, asset custodian, or an employer.

The Private Pension Fund Law sets out the financial instruments and the percentages of where and to what extent money can be invested, diversifying all types of risk as much as possible.

Pension fund members’ funds are also supervised by the Bank of Latvia and international auditors.

What should I do if my previous pension contributions were made by my employer, but I have changed jobs?

  • You can sign an individual agreement and continue using your pension provider as a private individual by transferring your 3rd pension pillar capital from the collective agreement to your individual agreement.
  • You can ask your new employer to make contributions into your individual or new collective agreement.
  • You can leave everything as it was: your employer’s previous contributions to your 3rd pension pillar plan remain valid in accordance with the pension plan’s investment policy.

What are the account numbers for making contributions to 3rd pension pillar plans?

Our pension plans have the following account numbers: 

  • CBL Sabalansētais (for contributions in EUR) account No. LV86PARX0000299400003
  • CBL Aktīvais USD (for contributions in USD) account No. LV32PARX0000299400005
  • CBL Aktīvais (for contributions in EUR) account No. LV46PARX0000299401014
  • CBL Indeksu (for contributions in EUR) account No. LV04PARX0000299400024

The payment purpose must include: name, surname, beneficiary's personal ID number, agreement number.

Is it possible to make contributions to several pension funds and plans?

Yes, clients can be a member of several private pension funds and plans.

Bear in mind that the personal income tax refund applies to all contributions made to pension funds and plans in total, up to a maximum of 10% of your gross annual salary, but not exceeding 4000 EUR per year.

What are the options for receiving my 3rd pension pillar capital once I reach 55 years of age?

Upon reaching the age of 55, participants are entitled — but not obliged — to withdraw their accrued 3rd pension pillar capital. You can postpone the withdrawal of your 3rd pension pillar capital until you need it, or withdraw the capital in parts. Your accumulated capital continues to operate in accordance with the pension plan's investment policy. In addition, if you earn income and pay taxes, you can still contribute to your pension plan and receive tax benefits beyond the age of 55.

How can I make a contribution to my 3rd pension pillar savings?

Contributions your 3rd pension pillar savings can be made:

  • with a payment through the Citadele Online Bank; 
  • by setting up a regular payment; 
  • with a payment from another bank (specifying the recipient, IBAN, and including your agreement number as the payment purpose);
  • with a branch payment.

More questions
How do I set up a 3rd pension pillar agreement?

If you want to build future savings by making 3rd pension pillar contributions with CBL Atklātais pensiju fonds, you can enter into an individual membership agreement.

You can set up an agreement through the Online Bank (see instructions below) or in any Citadele branch by making an appointment for a visit in advance (click here to make an appointment). You can also apply for a telephone consultation by calling  +371 6701 0000.

To draw up an Individual Membership Agreement for the 3rd pension pillar, log in to the full version of the Online Banking.

In the section Pension > 3rd pension pillar, select “Enter into a new agreement”.

   – Required fields are marked with a red asterisk.
   – Choose one of the Pension Plans. Information about the plans can be viewed here.
   – Check whether all the information in the section “Pension plan participant” is correct, and if necessary, correct it.

If you want another person to be able to make contributions to your 3rd pension pillar agreement, be sure to enter this person’s information in the next section.

In the section “Regular payment”, indicate the amount and frequency of your planned contributions.

If you want the payments to be made from your account automatically, select the answer “Yes” to the question “Do you want to issue an order for the regular payment of a fixed amount?”. Then select the account from which you would like payments to be made, and specify the payment date.

You can change the amount and frequency of your regular payment at any time through the Online Bank under Payments > Regular payments.

Click “Next”.

Check the information entered. If you want to change the information in any of the fields, press the button “Back”.

To continue and sign the agreement, please:
1. read the important information and terms;
2. tick that you have read the information;
3. sign the agreement with a code from your authorization device.

You can monitor the status of your order in the section “Document History”.

What are the tax benefits when making 3rd pension pillar contributions?

If you make contributions into your 3rd pension pillar yourself, then you can receive a 20% personal income tax (PIT) refund every year for the previous calendar year’s contributions. In this case, total contributions for the calendar year may not exceed 10% of the gross income received during that year, and no more than 4000 EUR per year. More information in the section on personal income tax refund.

How to add/change a beneficiary?

A beneficiary is the person entitled to receive capital in the event of the customer’s death.
To add/change a beneficiary for your 3rd pension pillar savings, log in to the full version of the Online Bank.

Select “Correspondence with the bank” > “Order to the bank”. Copy the template below, insert it in the text of the order, and enter the required information:
1. pension plan;
2. agreement number;
3. information about the beneficiary.
You can specify one or more beneficiaries, each with a percentage of the bequest (the total must be 100%.)
Note that if you specify a different beneficiary, the previously specified beneficiary is automatically cancelled.

If you do not have access to the Online Bank, book a branch visit here.

Template

Application on the person (s) entitled to the accrued supplementary pension capital in the event of the Participant’s death

Pension plan: (CBL Sabalansētais/ CBL Aktīvais/ CBL Aktīvais USD/ CBL Indeksu)
Individual agreement No./Company name:
Phone number:
Person (s)* entitled to the accrued Supplementary Pension Capital in the event of the Participant’s death**: Name, surname; personal identification code***; the person’s relationship with the pension plan participant; phone number; share, % (total 100%).

* when deciding on the person (s) entitled to their Supplementary Pension Capital in the event of the Participant’s death, the Participant at the same time revokes all previous instructions regarding the recipients of their 3rd pension pillar capital, if any.
** The Participant is responsible as the personal data overseer for transferring the personal data of these persons to the Pension Fund.
*** When nominating a person who has not been assigned a personal identification code by the Republic of Latvia, please indicate their date of birth, plus the document number, expiry date, issuing country, and issuing institution of their identification document. A copy of this person’s identification document must be attached.

Can I stop contributing to the 3rd pension pillar?

Yes, any participant may freely choose to reduce or suspend contributions, or to terminate them altogether. Investment results will be calculated every month for the amount already paid into the pension plan. Remember that you can restart your contributions at any time after stopping. Stopping and restarting your contributions does not require permission from CBL Atklātais pensiju fonds.

Business customers: How to draw up a collective membership agreement?

If you, as an employer (legal entity), want to build future savings for your employees by making 3rd pension pillar contributions through CBL Atklātais pensiju fonds, it is possible to set up a collective membership agreement.

You can draw up an agreement at any Citadele branch by making an appointment for a visit in advance (click here). You can also apply for a telephone consultation by calling the bank on +371 6701 0000.
 

Do I have to pay taxes on my 3rd pension pillar capital upon withdrawal?

Personal income tax will not be deducted from accumulated pension capital that is formed of your own contributions, but personal income tax will be deducted from your employer's contributions to your pension fund savings.

Your investment results at the time of disbursement — calculated as a result of how your pension plan assets were managed — will be subject to a 20% tax on capital gains. The tax will be withheld by CBL Atklātais pensiju fonds when the assets are disbursed.

How can I find out what is happening with my accrued 3rd pension pillar capital?

Pension plan participants who use Citadele Online Banking can oversee changes to their accumulated pension capital through the Online Bank. 

Once a year, CBL Atklātais pensiju fonds sends a report on the specific account, including information on contributions and withdrawals made that year, commission deductions, investment performance, and other information through the Citadele Online Bank (at the customer’s request, this can also be sent by email or mail). 

Participants can obtain information about their accumulated capital in person at any Citadele Customer Service Centre after presenting an identity document.

How do I access my 3rd pension pillar savings?

The pension fund participant can submit a free-form order for the disbursement of their 3rd pension pillar savings, including: 
1. The pension plan from which savings are to be paid out;
2. The pension plan participant’s personal information and contact information, or that of their beneficiary / nominated person; 
3. The reason for requesting the capital;
4. The disbursement method (bank account information);
5. The amount to be disbursed and the further actions to be taken with the pension agreement (cancellation or continuation).

The application must include copies of the documents which confirm your right to use the 3rd pension pillar capital. 

Otherwise, you can present your personal identification document at any Citadele Customer Service Centre, first booking an appointment here, and fill out an application for disbursement of your 3rd pension pillar capital.

Your 3rd pension pillar capital can be disbursed all at once, or in instalments over a longer period. 3rd pension pillar capital is paid out by transfer to any bank account.

If the pension fund member does not have a current account with any bank, the 3rd pension pillar capital can be paid to a Citadele current account opened free of charge. 3rd pension pillar capital is disbursed within two weeks of receipt of the application by CBL Atklātais pensiju fonds, as long as all the necessary information has been submitted by the participant.

When can I access my accumulated pension capital?

3rd pension pillar capital is available at the age of 55.

In some cases, 3rd pension pillar capital may also be paid out earlier:

  • if the member has been employed for a certain period in a profession included in Cabinet Regulation No. 46 dated 01.08.2020. More information here;
  • if the member is recognized as a Group 1 disabled person for life;
  • to the heir or named beneficiaries in the event of the death of the pension plan member.

Can accumulated 3rd pension pillar capital be inherited?

In the event of the death of the participant, their heirs are entitled to their accumulated 3rd pension pillar capital, unless the participant has specified another person (or several persons) who is not their next of kin for inheriting their 3rd pension pillar capital as part of their pension plan agreement.

Can I change my pension plan and pension fund?

Pension fund participants may transfer their 3rd pension pillar capital to another pension plan or pension fund at any time. The order will be executed within two weeks after all necessary documents have been received by AS CBL Atklātais pensiju fonds.

How do I transfer my funds to a different 3rd pension pillar plan?

You can request the transfer of your existing 3rd pension pillar savings to another pension plan of your choice by submitting an order through the Citadele Online Bank: 

  1. log into online banking;  
  2. at the top, above the menu bar, select Correspondence With Bank; 
  3. on the left, select New Order;  
  4. an order number will appear automatically, but you must fill in the remaining fields yourself:  

Topic: Order for pension plan change  
Account number for authorisation: (select your current account)  
Order text: Please transfer the capital from my 3rd pension pillar plan CBL [current pension plan] (individual agreement number XX-XXXXXXXXXXX) to my 3rd pension pillar plan CBL [new pension plan] (new individual agreement number XX-XXXXXXXXXXX). 

Press “Next” and authorise the order.

How do I change my CBL 3rd pension pillar plan?

To change your pension plan, you must sign a new 3rd pension pillar agreement, choosing one of our plans: CBL Indeksu, CBL Aktīvais, CBL Aktīvais USD or CBL Sabalansētais. Find out more on how to sign a 3rd pension pillar plan agreement here.

What is the minimum contribution amount? Do I have to make payments regularly?

There are no requirements for how regular payments should be. You can make contributions whenever you wish, and set the best amount and frequency for you. Remember: the sooner you start making contributions, the larger your savings will be.

What are the guarantees for the security of the funds invested in pension plans?

Legislation requires that pension fund members’ cash and other assets be kept off the bank’s balance sheet by both the pension fund (AS CBL Atklātais pensiju fonds), the asset manager (IPAS CBL Asset Management), and the asset custodian (AS Citadele Banka).
3rd pension pillar capital saved in an individual account cannot become the property of the asset manager, asset custodian, or an employer.

The Private Pension Fund Law sets out the financial instruments and the percentages of where and to what extent money can be invested, diversifying all types of risk as much as possible.

Pension fund members’ funds are also supervised by the Bank of Latvia and international auditors.

What should I do if my previous pension contributions were made by my employer, but I have changed jobs?

  • You can sign an individual agreement and continue using your pension provider as a private individual by transferring your 3rd pension pillar capital from the collective agreement to your individual agreement.
  • You can ask your new employer to make contributions into your individual or new collective agreement.
  • You can leave everything as it was: your employer’s previous contributions to your 3rd pension pillar plan remain valid in accordance with the pension plan’s investment policy.

What are the account numbers for making contributions to 3rd pension pillar plans?

Our pension plans have the following account numbers: 

  • CBL Sabalansētais (for contributions in EUR) account No. LV86PARX0000299400003
  • CBL Aktīvais USD (for contributions in USD) account No. LV32PARX0000299400005
  • CBL Aktīvais (for contributions in EUR) account No. LV46PARX0000299401014
  • CBL Indeksu (for contributions in EUR) account No. LV04PARX0000299400024

The payment purpose must include: name, surname, beneficiary's personal ID number, agreement number.

Is it possible to make contributions to several pension funds and plans?

Yes, clients can be a member of several private pension funds and plans.

Bear in mind that the personal income tax refund applies to all contributions made to pension funds and plans in total, up to a maximum of 10% of your gross annual salary, but not exceeding 4000 EUR per year.

What are the options for receiving my 3rd pension pillar capital once I reach 55 years of age?

Upon reaching the age of 55, participants are entitled — but not obliged — to withdraw their accrued 3rd pension pillar capital. You can postpone the withdrawal of your 3rd pension pillar capital until you need it, or withdraw the capital in parts. Your accumulated capital continues to operate in accordance with the pension plan's investment policy. In addition, if you earn income and pay taxes, you can still contribute to your pension plan and receive tax benefits beyond the age of 55.

How can I make a contribution to my 3rd pension pillar savings?

Contributions your 3rd pension pillar savings can be made:

  • with a payment through the Citadele Online Bank; 
  • by setting up a regular payment; 
  • with a payment from another bank (specifying the recipient, IBAN, and including your agreement number as the payment purpose);
  • with a branch payment.

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