All about pension funds: what is the difference between the second and third tiers and which one should you choose? | Business

All about pension funds: what is the difference between the second and third tiers and which one should you choose?  |  Business

How much money will I deposit?

How 15min said the director of the Private Services Department of Šiaulių bankas, family finance expert dr. For Dalia Kolmats, we consider “Sodra” to be the first step. Here, we have no choice but to pay Social Security contributions, and this portion is likely to make up the majority of a resident’s income in retirement if they have no other sources of income in their old age.

When participating in the second tier of pensions, residents’ contributions depend on their salary. An amount of 3 percent is automatically deducted from their salary every month. from all insured income. The state also contributes to this – it adds 1.5 percent to the saver in the second tier. average salary per month.

The third tier of pensions works on the same principle as the second tier, but it is a voluntary accumulation method. The saver himself decides how often and how much money he wants to transfer to the pension fund, Luminor informs.

But did you know that additional funds can be transferred not only to the third, but also to the second tier pension fund? A person in a second-tier pension fund can accumulate more than 3 percent. from your salary.

READ MORE: Not everyone who accumulates pensions in the second stage knows regarding the additional option: following applying it, the discount also applies


#pension #funds #difference #tiers #choose #Business
2024-03-28 21:15:37

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