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-balance sheet of the bank by both the pension fund AS CBL Open Pension Fund, the asset manager IPAS CBL Asset Management and the asset custodian AS Citadele Banka. The supplementary pension capital accumulated in an individual account can not become the property of an asset manager, an asset custodian or an employer.
The Private pension funds law sets out the financial instruments and their percentages - where and to what extent money can be invested, with maximum distribution of all types of risk.
Pension fund members’ funds are additionally supervised by the Latvian Bank and international auditors.

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