Pension savings

1st Pension Pillar

• A state run mandatory pension scheme based on intergenerational solidarity, where social insurance contributions paid by working citizens are used to pay old age pensions to current pensioners.

2nd Pension Pillar

State funded pension scheme

• A part of the mandatory social insurance contributions paid by residents is invested in a professionally managed portfolio, which among other securities includes equities, bonds, and deposits.
• In the 2nd pension pillar actual savings grow based on investment returns.

• C Universālais plāns 61+
• C Aktīvais plāns 51-60
• C Ilgstpējas plāns 15-50
• C Akciju indeksu plāns 15-50
• Aktīvais plāns

3rd Pension Pillar

Private voluntary pension scheme

• Allows individuals to build additional savings for retirement alongside the state pension (1st and 2nd pension pillars), while benefiting from tax incentives provided by law.

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Apply for 2nd Pension Pillar

You can apply for any investment plan offered by Citadele through the completion and submission of an application to a State Social Insurance Agency (VSAA) branch or latvija.lv.

• If a client is not yet a participant in the state funded pension scheme, they are registered in the 2nd pension pillar at the time of choosing the fund manager and investment plan.
• According to legislation, the fund manager can be changed once a year, and the investment plan with the same fund manager can be changed twice a year.

Apply for the plan