If you want to create future savings by making contributions to the 3rd pension pillar with CBL Atklātais pensiju fonds, it is possible to enter into an individual membership agreement.

You can draw up an agreement in the Online Banking (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 the bank’s telephone number 67010000.

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, if necessary, correct it.

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

In the section “Regular payment”, indicate the amount and periodicity of the 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 to make payments and specify the date of payment.

You can change the amount and frequency of the regular payment at any time in the section Payments > Regular payments of the Online Banking.

Click “Next”.

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

To continue and sign the agreement, please read the important information and terms. Then tick that you have read the information. Sign the agreement with a code from your authorization device.

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

If the contributions are made by an individual, each year, for the previous calendar year, a pension fund member may obtain a refund of 20 % of the personal income tax (PIT). In this case, the contribution for the calendar year may not exceed 10 % of the gross income received during that year, however, not more than EUR 4 000 per year. More information in the section on personal income tax refund.

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

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: Pension plan, Agreement number, 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 another beneficiary, the previously specified beneficiary is automatically cancelled.

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)
Individual agreement No./Company name:
Telephone:
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; telephone; share, % (total 100%).

* When indicating a person who has not been assigned a personal identification code in the Republic of Latvia, the date of birth, identity document No., date, country and the institution that issued the document must be indicated. A copy of this person’s identification document must be attached.
** by making a choice as to the person (s) entitled to the Supplementary Pension Capital in the event of the Participant’s death, the Participant shall at the same time revoke all its previous instructions regarding the recipients of the Supplementary Pension Capital, if any.
*** The participant is responsible as the controller of personal data for the transfer of personal data of these persons to the Pension Fund.

If you do not have access to the Online Banking, make an appointment for a visit to the branch here.

Supplementary pension capital is available at the age of 55.
In some cases, the supplementary pension capital may also be paid out earlier:

• If the member has been employed for a certain period in a profession included in the  Cabinet Regulation No. 47 dated 21.01.2014;
• If the member is recognized as a Group 1 disabled person for life;
• The heir or named beneficiaries in the event of the death of a member of the pension plan.

A member of the pension fund must present a personal identification document at any Citadele Banka Customer Service Centre and fill out an application for payment of the accrued supplementary pension capital.
The private pension can be paid all at once or in instalments over a longer period. Private pension 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 accumulated supplementary pension capital can be received on a current account with Citadele Banka opened free of charge. Payment of the supplementary pension capital shall take place within two months of receipt of the application by CBL Open Pension Fund.

Once a year, the CBL Open Pension Fund sends a report through the Citadele Online Banking or by mail to clients who do not have Internet Banking, regarding the status of their individual account, including information on contributions, disbursements, commission deductions, investment performance, and other information.
Pension plan members using Citadele Online Banking can keep track of changes in their accumulated pension capital through the Online Banking. The member can obtain information about his / her accumulated capital by coming to any Citadele Banka Customer Service Centre and presenting an identity document.
 

Personal income tax will not be deducted on your 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.
The investment result calculated as a result of the management of the pension plan assets at the time of disbursement will be subject to a 20% tax on capital gains. The tax will be withheld at the time of payment of the savings by the CBL Open Pension Fund.