Unlike an employee, whose social insurance contributions are made by the employer, the self-employed need to do those themselves. A part of those contributions goes to old-age pension accruals. How much is it and will it be enough for your retirement days, we will find out in this article.

Everyone wants to have a comfortable life in retirement, but only a few make savings every month, because daily expenses always seem to be more important in the moment and the retirement seems to be too far to be bothered.

Tens of thousands of Latvian citizens have been investing their pension accruals in plans not suitable for their age, which seriously decreases the amount of their future pension.

Speaking about 2nd pillar pension, a question often arises with people, if their pension capital is safe – where it is kept and who is supervising it.

If you are more than 8 years away from your retirement age, it is highly likely that you will go through at least one more economic downfall, which will affect your 2nd pillar pension capital at that time. Especially, if a major part of it was invested in stock.

Over the years the total savings in Your second pillar pension account might exceed thousands of euro. In order to help you to navigate through the questions regarding the management of your capital, we have collected the key information that you might not have known.

Find out how the value of your capital has changed since joining the second pillar pension.

When assessing the possibilities to change the existing asset manager to an alternative one, the participants often ask whether during the change of the investment plan they will lose any part of their savings? So how is it in reality?

Since January 1, 2020 any participant of the second pillar pension who has not yet claimed the retirement pension can fill in an electronic form and assign his/her accumulated pension capital for inheritance.