[ad_1]
The Kaunas-based consulting firm Viltė works for a company that delves into the financial problems of the population and companies. The girl not only solves clients’ problems, but also looks after her financial future, dedicating part of her earnings to four years. Use the second pillar of pensions.
“I personally accumulate in the second stage and still dedicate several investment funds on my own. I have several contracts. Currently, 3 retired employees maintain a retiree, so over time that number will definitely increase and it will not be a very good situation”, says financial consultant Viltė Lubytė.
In Lithuania, almost half of the country’s population, a total of 1.3 million people, are participants in the second pillar of pensions. The value of its accumulated assets is close to 4 billion euros. If we distribute this money to all the participants, they would all receive 2,800 euros.
So that she doesn’t have to count her last pennies on her hands when she reaches retirement age, Sodra constantly persuades residents to contribute to this accumulation and involves them in a system that works normally.
Accumulating at the maximum rate, an additional 3 percent of the salary is allocated from the salary to the private pension. For participating in the second stage, the state grants you another 1.5 percent of the average salary. By accumulating 40-50 years, it is possible to add a fifth of your previous salary to your pension.
“A person who has the potential to accumulate 40, 50 years can expect significant numbers, because it must be understood that a young person who is now beginning to accumulate can accumulate 100 and more thousands of euros in the second stage,” says economist Marius Dubnikov .
Marius Dubnikovas
How the state will pay you this money will depend on how much money you have accumulated.
“A person can withdraw up to 5 thousand euros in a lump sum, from 5 to 10 thousand euros a pension accumulation company can pay him periodic benefits, and from 10 thousand euros a person will have to buy a pension annuity from Sodra,” he says. . Sodra ”representative Daiva Gerulytė.
An annuity is a periodic flat-rate benefit that Sodra has been paying for since today. This marks the end of the pension accumulation reform. Residents can now choose between three types of annuity. The first allows all the money accumulated from a private fund to be donated to Sodra.In the second case, all the money goes to Sodra, which pays lower benefits, but after death, part of the remaining money may be inherited by family members. And the third type, a deferred annuity, when a person pays Sodra 15 percent of his accumulated money and with the rest of up to 85 years he can do what he wants, invest them, transfer them from one fund to another.
According to the Ministry of Social Security and Labor, the objective of the pension accumulation reform is to create a stable state institution that would pay more old-age benefits to the population more safely.
“By accumulating a large amount in one place, annuities were supposed to be higher and basically administration and administration would be easier, much simpler for people and costs would also be much lower,” Deputy Minister Eglė said. Radišauskienė.
Eglė Radišauskienė (Photo by Arnas Strumila / Photo day)
According to market experts, the first objective of the state has been achieved: the state guarantee protects the money accumulated by the population from risks.
“The silver lining is that the annuities are taken over by the state with the state’s promise to pay them. And that means the system is potentially more stable or a guarantee that the money will reach retirees,” says economist Marius Dubnikov.
However, the amount of pension benefits has not changed, in Sodra they are the same as in private funds.
“Before the reform, benefits were promised to increase by 20.30 percent, which is clearly not the case,” says Marijus Kalesinskas, representative of the participants of the Pension Fund.
“When we started measuring benefits, I would prefer to say that they are basically similar to what residents have received so far after buying an annuity from a private pension accumulation company,” says Tadas Gudaitis, representative of investment and pension funds.
Both financial specialists and Sodra hope that the new Seimas will not undertake new pension accumulation reforms in the next five years.
[ad_2]
