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 three parts: a social-security contribution, currently paid to SoDra, salary contribution and an additional pension contribution 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: 19-04-2017