In Lithuania we have a three pillar pension system. The so called 1st pillar is a social pension paid to every citizen upon reaching a certain age.
2nd pillar pension funds
2nd pillar pension funds accumulate part of the social benefits to personal pension accounts from the State Social Insurance Fund Board –Sodra. Currently the rate is 3%, which according to state legislation should be again 5.5% (from gross salary) from 2011. The participation in this pillar pension funds is voluntary. Every person who holds a job position in Lithuania at the application moment is entitled to start accumulating the indicated rate of his/her income into these private funds.
UAB DNB Investicijų Valdymas offers three 2nd pillar pension funds:
DNB pensija 1 (0% equity)
DNB pensija 2 (up to 25% equity)
DNB pensija 3 (up to 50% equity)
3rd pillar pension funds
3rd pillar pension funds (additional voluntary accumulation) are widely spread investment instruments for long term savings. All those participating in these funds can apply for tax benefits.
UAB DNB Investicijų Valdymas offers two 3rd pillar pension funds:
DNB papildoma pensija (up to 50% equity)
DNB papildoma pensija 100 (up to 100% equity)
