Using a second-pillar fund for saving is wise
The right solution ensures a significant increase in your pension
Choose an SEB pension solution which corresponds to your age so that the savings accumulated for retirement would be managed effectively. For an optimal return on investment, younger people are advised to invest more heavily in stocks and shares, whereas those nearing retirement age should invest more in bonds and less in stocks. In other words, a shorter period for saving means choosing lower-risk investments and selecting the preferred level of risk.
We will help you find the best options for saving and inform you when you should make changes in your investments.
2%, 4%, or 6% of your gross salary goes to your second pension pillar, and the state adds an additional 4%
A good overview of your savings
A wide selection of saving and disbursement options
Low ongoing charges
Second pension pillar contribution calculator
Increasing contributions to the second pillar
Increasing the contribution is voluntary, and the rate of 2% will continue to apply by default. Raising the rate of contributions is a convenient way for many to save more for retirement – you will only need to apply once. The choice of whether to contribute 2, 4, or 6% of your gross salary to the second pillar can be changed once a year.
If you submit your application before 30 November, the new contribution will apply from the following year, and for applications submitted in December, from the year after. You can submit the application in the Internet Bank.
- The automated and ‘invisible’ regular saving generates a saving and investment habit. Long-term saving is the right decision for securing your future. Raising your contribution rate will help build up your pension assets over the long term.
- It would be worthwhile to take the opportunity to increase contributions before making other investments. If you are investing on your own, you will need to earn a higher average annual return to achieve the same result compared to increasing your contributions to the pension fund
Increasing the contribution is voluntary, and the rate of 2% will continue to apply by default. Raising the rate of contributions is a convenient way for many to save more for retirement – you will only need to apply once. The choice of whether to contribute 2, 4, or 6% of your gross salary to the second pillar can be changed once a year.
If you submit your application before 30 November, the new contribution will apply from the following year, and for applications submitted in December, from the year after. You can submit the application in the Internet Bank.
Please choose according to your age:
It is important to have the selected pension plan conform to the number of years left until your retirement and the preferred investment strategy.
Compare all of SEB’s second-pillar funds
Pension disbursement
You can withdraw assets saved in the second pension pillar at a time convenient for you. The best option is to start using it only once you have reached retirement age; in this case, an income tax credit or income tax exemption apply to you.
The payout method depends on your age and how you want to use your savings. There are a number of disbursement methods. If you wish, you can combine various options.
You can check your second pension pillar balance in the Internet Bank or on your Pension Centre account.
- All funds can be withdrawn as a one-time disbursement. Once you reach retirement age, you are liable to pay 10% of income tax.
- Fixed-term disbursement from your pension fund while still investing the remaining amount in your pension account.
- Lifetime pension – a contract with an insurance company that will start paying you a pension regularly and will do so for the rest of your life.
You can withdraw assets saved in the second pension pillar at a time convenient for you. The best option is to start using it only once you have reached retirement age; in this case, an income tax credit or income tax exemption apply to you.
The payout method depends on your age and how you want to use your savings. There are a number of disbursement methods. If you wish, you can combine various options.
You can check your second pension pillar balance in the Internet Bank or on your Pension Centre account.
| 1. Choice application for the II pillar pension fund | |||
| over the counter or in the SEB Internet Bank | free of charge | ||
| under power-of-attorney | EUR 3 | ||
| 2. Application for exchanging the II pillar pension fund units | |||
| over the counter or in the SEB Internet Bank | free of charge | ||
| under power-of-attorney | EUR 3 | ||
| 3. Succession application | |||
| resale of inherited fund units | EUR 22 | ||
| transfer of inherited fund units to the successor's pension account | EUR 3 | ||
| resale of inherited fund units and transfer to the successor's pension account | EUR 22 | ||
| 4. Payout applications | Bank office | SEB Internet Bank | |
|---|---|---|---|
| application for single payout | EUR 3 | EUR 3 | |
| statement of partial payment from pension funds | free of charge | free of charge | |
| application for payment from pension investment account | free of charge | free of charge | |
| funded pension application | EUR 5 | EUR 5 | |
| 5. Application for exemption from payment of mandatory funded pension contributions | EUR 5 | free of charge | |
| 6. Application for withdrawal of money from the mandatory funded pension | EUR 15 | EUR 7 | |
| 7. Application for payment of mandatory funded pension contributions | free of charge | free of charge | |
| 8. Application for cancellation of an application | free of charge | free of charge | |
| 9. Application for changing the contributions rate | free of charge | free of charge | |
Have questions about Pension 2nd pillar savings? Let us call you!
Complete our simple form, and one our pension advisors will be in touch with you soon.
- Our professional team will help to find a suitable solution for you. In order to consult an expert, you can register for a video meeting, a phone consultation, or meet at an SEB branch office – whichever suits you best!
Complete our simple form, and one our pension advisors will be in touch with you soon.
