The Seimas approved the first budget of the Pension Annuity Fund



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PAF expects to receive 4.108 million a year. EUR for payments of acquired pension annuities, of which 200.5 thousand will be paid to the beneficiaries of pension annuities. The administration fee will amount to 102.7 thousand. euros.

3,732 million will be invested during the year. euros.

It is also planned to borrow 299.9 thousand. euros to cover management and administration expenses.

According to Linas Kukuraitis, a farmer, Sodra has developed an unprecedented product in a very short time.

“This is the first annuity budget. Next year, I hope it is bigger and that there is an increasingly strong and sustainable system. “International experts agreed that in the long term, in a market as small as our annuity market, a state annuity provider will provide better terms for annuity holders,” he said.

According to him, Sodra’s annuity acquisition mechanism, which began in July 2020, “works and is in demand.”

Sodra foresees that in 2021 some 300 people will buy annuities, just under half of the 10,000 people who have accumulated in the pension funds of the second pillar. or more and eligible for annuities.

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