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The calculator is available online and works accurately for those with less than five years remaining until retirement age.
Daiva Gerulytė, head of the Sodra Pension Annuities Department, says the calculator should make it easier to decide which pension annuity to choose.
“The calculator is not designed to calculate your future pension benefits, but specifically for people who are about to retire and want to buy a pension annuity, know how much money they have accumulated, reached retirement age, or received a pension from early retirement, “he said at a press conference. D.Gerulytė.
A person must enter their date of birth, when they plan to conclude a pension benefit agreement, and the amount accumulated in their pension fund on the spreadsheet. Then the amounts of the three types of pension annuity are presented: standard, standard with a guaranteed and deferred payment period.
Sodra guarantees that under such conditions, you will pay at least benefits each month for the rest of your life.
According to D.Gerulytė, the calculator is accurate if accurate data is provided; it is Sodra’s guarantee that a person will receive exactly these benefits. But if the Sodra Pension Annuity Fund manages to obtain a higher return than that already included in the amount of the pension annuity, the benefits may be greater, but they cannot decrease.
According to D.Gerulytė, the calculator is accurate if accurate data is provided; it is Sodra’s guarantee that a person will receive exactly these benefits. But if the Sodra Pension Annuity Fund manages to obtain a higher return than that already included in the amount of the pension annuity, the benefits may be greater, but they cannot decrease.
According to Sodra’s Chief Actuary, Evaldas Valeiša, the amount of benefits depends on how much money a person has accumulated in the pension fund, how old they are when they buy an annuity, and what type of annuity they choose.
Žygimantas Gedvila / 15min photo / “Sodra” Presentation of pension annuity calculator
“Age is important because we calculate how long benefits will take on average. The later a person buys an annuity, the greater the monthly benefits they will receive,” said E. Vališa at the press conference.
According to him, when evaluating life expectancy, Sodra does not take into account a person’s gender or health status, therefore, the amount of the payment does not depend on it.
“We cannot discriminate against people, so men and women, regardless of their health status, will receive the same amount of benefits. We determine benefits based on statistical analysis, mortality research, and determine future life expectancy and the annuity amounts accordingly, ”said E. Vališa.
As of July 1, participants in the accumulation of a second-pillar pension who have accumulated 10,000 must purchase pension annuities from Sodra. and more euros.
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