Bank of Lithuania

2nd pillar pension funds refer to pension accumulation in private pension funds. All persons with income, from which state social insurance contributions are calculated on a mandatory basis to receive pension, and yet to reach retirement age may become fund participants. The contribution to 2nd pillar pension funds consists of two parts: 3% of the participant’s monthly wage and 1.5% of the national average wage from the State Budget.

3rd pillar pension funds refer to supplementary voluntary pension accumulation. Funds are transferred by participants themselves or by their employers.

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Last update: 15-01-2021