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2nd pension pillar

6% of your pre-tax income is automatically paid into a pension plan. Sort out your pension now, and you’ll never be blindsided!

Historically profitable plans

Choose the most suitable one for your age.

Latvia’s largest investment team

Trust local experts with 25 years’ experience.

Low commission fees

Save more and live better.

Service provided by Citadele Group business IPAS “CBL Asset Management”.

Pension calculator

Monthly wage cannot be lower than 0 Monthly wage cannot exceed 25000
0 EUR
25 000 EUR
Age cannot be lower than 18 Age cannot exceed 64
18 years
64 years
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0 2nd pillar monthly pension
0
2nd pension pillar capital
The most age-appropriate pension plan:
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The predicted amounts are for your information only and are in no way guaranteed.
When you choose a different CBL Asset Management private pension, your total predicted pension savings may change.
Historic profits do not guarantee similar profits in the future. When you choose a pension plan from a different pension manager, the overall predicted pension amount may change.
Statistics show what great results pillar 2 pension provider CBL Asset Management provides.

While others manage, we grow your pension

25
25
years of experience
253 000
253000
customers
895 000 000
895000000
EUR in pension savings managed

Figures from 30.06.2024 for pillar 2 and 3 pensions combined.

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Find out what your pension savings are

Find out latvija.gov.lv

Investment plan comparison

Age:
18 years 64 years
CBL Indeksu

CBL Indeksu

  • Suitable up to the age of 45.
  • Lowest commission in Latvia and passive management.
  • Potentially high level of profit and risk.
Apply
CBL Ilgstpējīgais

CBL Ilgstpējīgais

  • Suitable up to the age of 45.
  • Potentially high level of profit and risk by investing sustainably.
  • Includes investments in Latvia.
Apply
CBL Millennials

CBL Millennials

  • Suitable for those born between 1980 and 1990.
  • Investment strategy automatically adapted to your age.
  • High level of profit and risk.
  • Includes investments in Latvia.
Apply
CBL Aktīvais

CBL Aktīvais

  • Suitable for those aged between 46 and 60.
  • One of the highest historic levels of long-term profit in Latvia.
  • Potentially medium level of profit and risk.
  • Includes investments in Latvia.
Apply
CBL Universālais

CBL Universālais

  • Most suitable for 60+.
  • A more stable savings value and low level of risk.
  • Includes pension investments in Latvia.
Apply

Boring but important graph

CBL Aktīvais investment plan has the highest long-term returns compared to the other two active pension plans, which are the most popular by the number of participants.

Pattern

The graph illustrates the four most popular 2nd pension pillar plans based on participant numbers: Swedbank pensiju ieguldījumu plāns “Dinamika,” SEB aktīvais plāns, Luminor 53-58, and CBL Aktīvais ieguldījumu plāns. It displays the historical value changes of these plans since their inception, but it does not guarantee similar returns in the future.

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Questions about pensions?

Apply for a free consultation or fill in a pillar 2 pension form.

Apply

How do I choose or change a pension plan?

  • Log in to www.latvija.gov.lv using one of the methods offered.
  • Open an E-submission to select or change your 2nd pension pillar investment plan.
  • Choose the CBL plan which best matches your age and needs.

How do I bequeath a 2nd pension pillar?

Ensure that your pension doesn’t just gather dust once you reach pension age, and add a beneficiary.

A second isn’t enough, you need a third!

A 2nd pension pillar alone isn’t enough for you to live like you do now when you retire. The solution: a 3rd pension pillar.

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Apply for the advantageous index pension plans

With CBL Indeksu plans, you have the opportunity to save more! Apply for a consultation and we'll sort out the pension issue together.

2nd pension pillar CBL Indeksu plan

• The most profitable 2nd pillar pension plan in Latvia in 2023*.

• The lowest commission fee in Latvia** – 0.08%.

* Source: manapensija.lv. Period: 31.12.2022. - 31.12.2023.

Service provided by IPAS CBL Asset Management, a Citadele Group business.

3rd pension pillar CBL Indeksu plan

• The most profitable level 3 pension plan at Citadele in 2024.

• Annual commission fee – 0.53%.

The most advantageous level 3 index pension plan in Latvia for investments up to 100 000 EUR and private clients.

Service provided by AS CBL Atklātais Pensiju Fonds, a Citadele Group business.

Latest news (in Latvian)

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Kāpēc lēmumu par savu pensiju nepieņemt lielveikala gaitenī

Iedzīvotāju uzrunāšana tirdzniecības vietās Latvijā notiek jau daudzus gadus, taču šī pieeja drīzumā varētu kļūt vēl pamanāmāka...
Find out more
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Neignorē – tas ir par tavu naudu!

Pensija nav tikai pensionāra problēma, bet gan aktuāls jautājums valsts līmenī pilnīgi visiem. Diemžēl liela daļa iedzīvotāju pensiju jautājumā neiedziļinās...
Find out more
photo

Pensiju pārvaldīšana nav bez maksas. Cik daudz maksā tu?

Pensiju plāniem komisijas maksa Latvijā var atšķirties no 0,08 % līdz pat 1 % no uzkrājuma apjoma gadā. Tas tiešā veidā ietekmē, cik...
Find out more
photo

Video: 300 eiro mēnesī. Vai tā varētu būt tava pensija?

Iedzīvotāju skaits pēdējos 30 gadus samazinās, un strādājošo un pensionāru attiecība šobrīd ir 2 pret 1, bet nākotnē varētu būt pat 1 pret 1...
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photo

Ar otro nepietiks – vajag trešo

Tā nav zinātne, bet gan vienkārša patiesība – tikai ar uzkrājumu pensiju 2. līmenī nepietiks, lai, aizejot pensijā, dzīvotu kā tagad. Kāds ir risinājums? Vai ir vērts uzkrāt pensiju 3. līmenī?
Find out more

Didn’t find the answer to your question?

Visit our interactive assistant and find the information you need

Interactive assistant
Where can I find out how much is in my pension savings?

There are several ways to find out your 2nd pension pillar savings.

1. Citadele online bank

Under: Pensions > 2nd pension pillar> Learn your accrued 2nd pillar pension funds

2. www.latvija.gov.lv

On the home page under E-services > Information and services > Request service.

Log in with your authorisation device of choice, and you will see your 1st, 2nd and 3rd pension pillars.

How do I withdraw the funds in my 2nd pension pillar?

You can withdraw your 2nd pension pillar savings once you apply for a state pension.

As of 2024:

- To receive your saved capital, you must have reached the age of 64 years and 9 months.

- You must have worked for no less than 15 years.

How can I calculate my pension?

You will only know your exact pension just before you retire, but you can obtain an estimate of your pension today using our pension calculator.

How can I compare results from different pension plan providers?

You can compare the results of all 2nd pension pillar providers on the website manapensija.lv (https://www.manapensija.lv). It contains information about each plan's commission fee, as well as other information on pension pillars.

Why choose Citadele for your 2nd pension pillar?

Citadele is a good choice for your 2nd pension pillar for the following reasons:

1. High profitability. CBL Asset Management's plans have been able to show some of the best growth in savings.

2. Long-term success. Since 2003, the CBL Aktīvais plan has been the best in the 50% share-based plan category.

3. Low commission fees. The CBL Indeksu plan has the lowest commission fee in Latvia: 0.08% per year. In 2023, the plan also showed the best growth in value (22.83%), outpacing the Swedbank Dinamika Indekss plan by 2.89%.

Where can I apply for the 2nd pension pillar?

To apply for the 2nd pension pillar, there are several options.

1. Citadele online bank

Under: Pensions > 2nd pension pillar > Sign up at latvija.lv.

2. www.latvija.gov.lv

On the home page under E-services > Information and services > Request service.

Log in with your authorisation device of choice, and you will see your 1st, 2nd and 3rd pension pillars.

Select 2nd pension pillar > See more > Current provider > Change. Change the CBL plan from the list which is best suited to your age and interests, and press Submit.

Is my pension taxed?

Yes, your pension is subject to personal income tax, just like your salary. As of January 1, 2020, the non-taxable minimum on pensions is 300 EUR. The portion of your pension over this threshold is subject to a progressive income tax:

- Pension portion up to 300 EUR: 0% tax rate.

- Pension portion between 301 EUR and 1667 EUR: 20% tax rate.

- Pension portion between 1668 EUR and 4583 EUR : 23% tax rate.

- Pension portion over 4584 EUR: 34.1% tax rate.

What formula is used to calculate my pension?

Pension calculations are made by the State Social Insurance Agency (SSIA). You can view a more detailed formula for calculation on the SSIA website.

If I am a pensioner, but still working, do my 2nd pension pillar savings keep building?

No, after your pension is issued, your 2nd pension pillar savings are added to your 1st pension pillar. When you purchase a Lifetime Pension insurance policy, your 2nd pension pillar savings are added to your policy. Read more about the Lifetime Pension here.

How do I opt out of the 2nd pension pillar?

If you have not yet reached pension age, you cannot opt out of the 2nd pension pillar, as participation in the 2nd pension pillar is compulsory.

What is an index pension plan?

An index pension plan is managed using a passive investment strategy. This means that the plan invests only in the stock markets, and only in funds which mirror indexes. Regardless of the current financial market situation, the geographic distribution does not change. The passive strategy means relatively low costs and simplified investment management. The CBL Indeksu plan has the lowest commission fee in Latvia: 0.08%.

Is the 2nd pension pillar inheritable?

Yes, as of January 1, 2020, 2nd pension pillar participants who have not yet requested their state pension have the right to choose how their savings are used if they die before reaching pension age. There are three options:

1. Pension savings are transferred to the special state pension budget. The savings are given to current pensioners.

2. The savings are inherited by a specific person. The savings are added to the 2nd pension pillar of that person, allowing them to receive a larger pension when they retire.

3. The savings are inherited according to the Civil Law. The savings are passed on to your heirs (next-of-kin or as stated in your will) who can choose to withdraw the money or add it to their 2nd pension pillar.

To ensure that your savings are inherited, you must submit your wishes electronically to the State Social Insurance Agency through the latvija.gov.lv site.

Why choose CBL Asset Management as your pension provider?

CBL Asset Management is a good choice for your pension provider for the following reasons:

1. All-encompassing range of services. The only company in Latvia that oversees pension savings as well as investment funds and individual portfolios.

2. Wide customer base. More than 200,000 customers trust CBL, and the total amount we manage comes to EUR 1.2 billion.

3. The largest team of experts in Latvia. The largest team of investment and financial experts in Latvia, offering high-quality services.

What does the commission fee comprise?

The commission fee comprises two parts:

1. Fixed commission fee. A fixed amount set by the provider.

2. Variable commission fee. Depends on the results of the investment.

The amount of commission is set by the provider, but the maximum amount is limited by law. You can view each plan's fee in more detail in the plan comparison on our 2nd pension pillar page, which also includes the prospectus for each plan. The CBL Indeksu plan has the lowest commission fee in Latvia.

What is the 2nd pension pillar?

The 2nd pension pillar is a system in which 6% of your gross salary every month is paid to your chosen pension provider. These savings are managed with the aim of increasing the pension you receive when you retire.

How often can I change my 2nd pension pillar investment plan and provider?

Changing your 2nd pension pillar investment plan and provider:

1. Change of provider - permitted once per calendar year.

If you have changed providers this year (for example, from one bank to another), you will be able to join CBL Asset Management next year.

2. Change of investment plan - permitted twice per year, as long as you change between plans offered by the same provider.

If you have not changed your investment plan this year, or if you have changed plans, but not providers, you can join CBL Asset Management.

How do you decide where to invest my pension savings?

CBL Asset Management's investment decisions are made by 13 experienced financial and investment experts. They carefully analyse the market and available options in order to ensure the optimal balance between risk and profit. Plus, CBL Asset Management also invests in assets linked with Latvia, supporting the local economy.

From what age can I join the 2nd pension pillar?

You can start participating in the 2nd pension pillar when you start work, and from the age of 15.

Can I leave my 2nd pension pillar savings to a beneficiary who is a citizen of another country and does not have a Latvian personal code?

Yes, you can leave your accrued 2nd pension pillar capital to a beneficiary who is a citizen of another country, but only by the process stipulated in the Civil Law. This means that you must comply with the requirements of the law to ensure that your savings are inherited in accordance with your wishes.

More questions
Where can I find out how much is in my pension savings?

There are several ways to find out your 2nd pension pillar savings.

1. Citadele online bank

Under: Pensions > 2nd pension pillar> Learn your accrued 2nd pillar pension funds

2. www.latvija.gov.lv

On the home page under E-services > Information and services > Request service.

Log in with your authorisation device of choice, and you will see your 1st, 2nd and 3rd pension pillars.

How do I withdraw the funds in my 2nd pension pillar?

You can withdraw your 2nd pension pillar savings once you apply for a state pension.

As of 2024:

- To receive your saved capital, you must have reached the age of 64 years and 9 months.

- You must have worked for no less than 15 years.

How can I calculate my pension?

You will only know your exact pension just before you retire, but you can obtain an estimate of your pension today using our pension calculator.

How can I compare results from different pension plan providers?

You can compare the results of all 2nd pension pillar providers on the website manapensija.lv (https://www.manapensija.lv). It contains information about each plan's commission fee, as well as other information on pension pillars.

Why choose Citadele for your 2nd pension pillar?

Citadele is a good choice for your 2nd pension pillar for the following reasons:

1. High profitability. CBL Asset Management's plans have been able to show some of the best growth in savings.

2. Long-term success. Since 2003, the CBL Aktīvais plan has been the best in the 50% share-based plan category.

3. Low commission fees. The CBL Indeksu plan has the lowest commission fee in Latvia: 0.08% per year. In 2023, the plan also showed the best growth in value (22.83%), outpacing the Swedbank Dinamika Indekss plan by 2.89%.

Where can I apply for the 2nd pension pillar?

To apply for the 2nd pension pillar, there are several options.

1. Citadele online bank

Under: Pensions > 2nd pension pillar > Sign up at latvija.lv.

2. www.latvija.gov.lv

On the home page under E-services > Information and services > Request service.

Log in with your authorisation device of choice, and you will see your 1st, 2nd and 3rd pension pillars.

Select 2nd pension pillar > See more > Current provider > Change. Change the CBL plan from the list which is best suited to your age and interests, and press Submit.

Is my pension taxed?

Yes, your pension is subject to personal income tax, just like your salary. As of January 1, 2020, the non-taxable minimum on pensions is 300 EUR. The portion of your pension over this threshold is subject to a progressive income tax:

- Pension portion up to 300 EUR: 0% tax rate.

- Pension portion between 301 EUR and 1667 EUR: 20% tax rate.

- Pension portion between 1668 EUR and 4583 EUR : 23% tax rate.

- Pension portion over 4584 EUR: 34.1% tax rate.

What formula is used to calculate my pension?

Pension calculations are made by the State Social Insurance Agency (SSIA). You can view a more detailed formula for calculation on the SSIA website.

If I am a pensioner, but still working, do my 2nd pension pillar savings keep building?

No, after your pension is issued, your 2nd pension pillar savings are added to your 1st pension pillar. When you purchase a Lifetime Pension insurance policy, your 2nd pension pillar savings are added to your policy. Read more about the Lifetime Pension here.

How do I opt out of the 2nd pension pillar?

If you have not yet reached pension age, you cannot opt out of the 2nd pension pillar, as participation in the 2nd pension pillar is compulsory.

What is an index pension plan?

An index pension plan is managed using a passive investment strategy. This means that the plan invests only in the stock markets, and only in funds which mirror indexes. Regardless of the current financial market situation, the geographic distribution does not change. The passive strategy means relatively low costs and simplified investment management. The CBL Indeksu plan has the lowest commission fee in Latvia: 0.08%.

Is the 2nd pension pillar inheritable?

Yes, as of January 1, 2020, 2nd pension pillar participants who have not yet requested their state pension have the right to choose how their savings are used if they die before reaching pension age. There are three options:

1. Pension savings are transferred to the special state pension budget. The savings are given to current pensioners.

2. The savings are inherited by a specific person. The savings are added to the 2nd pension pillar of that person, allowing them to receive a larger pension when they retire.

3. The savings are inherited according to the Civil Law. The savings are passed on to your heirs (next-of-kin or as stated in your will) who can choose to withdraw the money or add it to their 2nd pension pillar.

To ensure that your savings are inherited, you must submit your wishes electronically to the State Social Insurance Agency through the latvija.gov.lv site.

Why choose CBL Asset Management as your pension provider?

CBL Asset Management is a good choice for your pension provider for the following reasons:

1. All-encompassing range of services. The only company in Latvia that oversees pension savings as well as investment funds and individual portfolios.

2. Wide customer base. More than 200,000 customers trust CBL, and the total amount we manage comes to EUR 1.2 billion.

3. The largest team of experts in Latvia. The largest team of investment and financial experts in Latvia, offering high-quality services.

What does the commission fee comprise?

The commission fee comprises two parts:

1. Fixed commission fee. A fixed amount set by the provider.

2. Variable commission fee. Depends on the results of the investment.

The amount of commission is set by the provider, but the maximum amount is limited by law. You can view each plan's fee in more detail in the plan comparison on our 2nd pension pillar page, which also includes the prospectus for each plan. The CBL Indeksu plan has the lowest commission fee in Latvia.

What is the 2nd pension pillar?

The 2nd pension pillar is a system in which 6% of your gross salary every month is paid to your chosen pension provider. These savings are managed with the aim of increasing the pension you receive when you retire.

How often can I change my 2nd pension pillar investment plan and provider?

Changing your 2nd pension pillar investment plan and provider:

1. Change of provider - permitted once per calendar year.

If you have changed providers this year (for example, from one bank to another), you will be able to join CBL Asset Management next year.

2. Change of investment plan - permitted twice per year, as long as you change between plans offered by the same provider.

If you have not changed your investment plan this year, or if you have changed plans, but not providers, you can join CBL Asset Management.

How do you decide where to invest my pension savings?

CBL Asset Management's investment decisions are made by 13 experienced financial and investment experts. They carefully analyse the market and available options in order to ensure the optimal balance between risk and profit. Plus, CBL Asset Management also invests in assets linked with Latvia, supporting the local economy.

From what age can I join the 2nd pension pillar?

You can start participating in the 2nd pension pillar when you start work, and from the age of 15.

Can I leave my 2nd pension pillar savings to a beneficiary who is a citizen of another country and does not have a Latvian personal code?

Yes, you can leave your accrued 2nd pension pillar capital to a beneficiary who is a citizen of another country, but only by the process stipulated in the Civil Law. This means that you must comply with the requirements of the law to ensure that your savings are inherited in accordance with your wishes.

More opportunities

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3rd pension pillar savings

Set up a regular payment, save time and grow your pension savings without even trying. Service provided by Citadele subsidiary AS CBL Atklātais pensiju fonds.
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Investment funds

One of the most popular financial instruments, which offers the chance to maintain and even grow the value of your savings. Apply for a consultation and achieve your goals. Service provided by Citadele subsidiary CBL Asset Management.
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Accident insurance

Choose accident insurance for yourself and your family and avoid sudden expenses after accidental injuries, disability or even death. Service provided by Citadele subsidiary AAS "CBL Life".
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Accumulative life insurance

Use the opportunity to invest part of the paid insurance premiums and create savings, for example, for children's education. Apply and receive an annual income tax rebate of up to 20 %. Service provided by Citadele subsidiary AAS CBL LIfe.
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Short terms savings

A way of saving for your goals using the benefits of the Krājkonts account and Term Deposits. Apply through the online bank and achieve your dreams.
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