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Wednesday 19.02.2020 | Name days: Zane, Zuzanna

5.8% of 2nd pension level participants in Latvia want their pension savings inherited

By 10 February 2020 a total of 74 825 people or 5.8% of all 2nd level pension participants have used their right to have savings of their pension transferred to someone else if they die prior to reaching retirement age, as reported by the State Social Insurance Agency.

67 826 Latvian residents want their pension savings passed on after death

So far a total of 67 826 Latvian residents have chosen in favour of passing on their second level pension savings in the event of their death. 66.9% have chosen to let their pension savings be inherited after their death, as reported by State Social Insurance Agency representative Iveta Daine.

Bank: one-third of Latvian residents cannot afford saving on all pension levels

36% of Latvian residents lack sufficient financial capabilities to make savings on all available pension levels, including voluntary pension 3rd level. In Lithuania such an option is not available to 25% of residents and in Estonia – to 18% of residents, according to data from Luminor bank’s survey.

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