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- Residents involved in pension accumulation must submit a decision to Sodra by June 30.
- Residents who do nothing will become participants of the pension accumulation in a company selected by Sodra from July and will start paying the pension accumulation contributions.
- From July 1. Only Sodra will pay pension annuities from the funds accumulated in the resident pension fund.
“For residents who have not yet concluded the pension accrual agreements and have not submitted a request not to participate in the accrual, we have once again sent a reminder of the decision deadline to some personal accounts and emails.
The decision to participate in the accumulation of pensions is a responsible step and should not be taken in haste. It took me half a year, so I wouldn’t want the last minute decision to be made, “says Evaldas Mikutis, director of customer service management at Sodra.
Earlier this year, Sodra included 43,000 in the pension accumulation. population. They can sign a contract with the chosen pension accumulation company at any time, and 1.5 thousand have already done so. population.
They can also send a request to Sodra not to participate in the accumulation; such decision was made for 11.5 thousand. population included. It is recommended to submit the application for non-participation in the pension accumulation online by logging into the resident’s “Sodra” personal account.
Requests are also accepted in customer service departments, but Sodra reminds that due to the ongoing emergency in Lithuania, only previously registered people are accepted in Sodra’s customer service departments, so the visit must be registered with anticipation.
The residents involved in the accumulation of pensions cannot do anything either; they will then become participants in pension accumulation in a company randomly selected by Sodra from July. This means 2.1 percent. of the salary contributions will be transferred to your pension fund. The same would happen if the request not to participate in the accumulation was submitted late.
Presented a spreadsheet
This week, Sodra introduced another tool that can help those who are not determined to accumulate pensions in the second pillar. This is a pension annuity calculator.
The calculator shows how annuity benefits would change depending on the age of the resident, the amount accumulated in the pension fund, and the type of annuity chosen. From July 1. Sodra will provide an annuity service when, after paying a lump sum of the money accumulated in the fund, Sodra will pay monthly benefits for the rest of her life.
Pension annuities must be purchased by those participants in the accumulation of the second pillar pension who will have accumulated 10,000. and more euros. Depending on the amount of your accumulated funds, age, personal situation and investment focus, you will be able to choose between a standard pension annuity, a standard pension annuity with a guaranteed payment period and a deferred pension annuity.
Sodra also offers other tools. For example, using Sodra’s projected old-age pension calculator, you can find out which pension you would receive if you participated in pension accumulation and which if you did not.
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