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3rd pension pillar

 

3rd pension pillar is an opportunity to form additional savings on voluntary basis to increase one’s pension capital. It means that in addition to 1st and 2nd pension pillars one can individually of via employer invest a part of income to one of the private pension funds. It is an opportunity to take care of one’s old age by regularly making contributions for a long period of time, and in due course the accrued savings will serve as a supplement to state guaranteed pension.

  • 3rd pension pillar started to operate in Latvia in July 1998.
  • Any legally capable person at the age of 18 and above can apply for the 3rd pension pillar.

 

 

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