Pension Investment Account

Two men and one woman are sitting in a cafe and are discussing pension

For you if you want to grow your pension funds yourself.

Manage the self-created pension fund: decide your investment strategy and make the transactions.
The maintenance of the pension portfolio is free of charge and transaction fees are favourable.
With Swedbank’s Robur funds, you will always have access to world markets.
The leverage of the II pillar is maintained: You decide whether to contribute 6%, 4% or 2% of your gross monthly salary, with the state adding an extra 4%.

What is the PIA?

The Pension Investment Account (PIA) is a tool for those who want to invest their pension themselves. So, it is up to you to choose where you want to invest your money.

In the PIA, you accumulate for your pension in the same way as for the II pillar. You decide whether to contribute 6%, 4% or 2% of your gross monthly salary, with the state adding an extra 4%.
You can also transfer money already collected in the II pillar pension fund to your PIA. In doing so, you can choose to transfer all or part of the amount. Similarly, if you wish, you can transfer the money in the PIA back to the II pillar fund.

Why open the PIA with Swedbank?

Favourable fees

When using the PIA in Swedbank, the same favourable price list applies to your transactions as if you would be making investments using a Securities Account registered in Swedbank. Simple and without any hidden fees!

Transactions with Swedbank`s Robur funds are free of charge.
Transactions with Baltic shares are free of charge.
US and European stock exchange transaction fees start from €9.90.
Holding a portfolio is free of charge.

Wide range of securities

Swedbank’s Robur funds allow you to make investments with favourable rates in all important regions and economic sectors, both actively and passively.
Wide range of local stocks and stocks from around the world.
More than 200 stock exchange traded funds or ETFs.
Sectoral and regional investment funds.

You may have several PIA’s, but contributions can only go to one account or pension fund at a time.

Open PIA in the Internet Bank.

If you haven’t joined II Pillar previously, when you open PIA, you will automatically join II Pillar system and your monthly contributions will be directed to PIA.
After opening PIA, you can also direct there the monthly II Pillar contributions and previously accumulated pension assets.
The contributions will be made to PIA immediately starting from next month, the collected pension assets are transferred 3 times a year.
Submission of the exchange application from fund to PIA:
- August 1 – November 30, the exchange takes place on the first working day of January;
- December 1 – March 31, the exchange takes place on the first working day of May;
- April 1 – July 31, the exchange takes place on the first working day of September.

You can only make applications and transactions related to PIA in the Internet Bank. The fees required for making transactions must be on PIA.

Second pillar pension

Effective as of 07.11.2024

Selection
Selection application	free of charge
Selection application via an authorized natural or legal person	4,79 €
Switch
Switch	free of charge
Switch via an authorized natural or legal person	7,99 €
The contribution rate change
Application for changing contribution rate	free of charge
Pension Investment Account (PIA) Transactions made from a securities account forming part of a PIA are subject to the bank's securities account and transactions price list.
Opening of PIA and registration in Pension Centre	free of charge
PIA selection application	free of charge
PIA switching application	free of charge
Application to close PIA	free of charge
Monthly fee for securities account forming part of PIA	free of charge
Payments
One-off payment (for persons of retirement age)	3 €
Fund pension (for persons of retirement age)	5 €
Application for cancelling one-off withdrawal	free of charge
Application for terminating funded pension	free of charge
Withdrawal application	10 €
Application for cancelling withdrawal	free of charge
Suspending/continuing contributions
Application for suspending contributions	5 €
Application for continuing contributions	free of charge
Succession
Recovery of inherited pension fund units or pension investment account assets	20 €
Transfer of inherited pension units to successor’s pension account	3 €
Recovery of inherited pension fund units and transfer to successor’s pension account	20 €

Third pillar pension

Opening a pension account and selection of funds
Selection application	free of charge
Selection application via an authorized natural or legal person	3,20 €
Contributions to third pillar pension fund
Standing order for purchasing voluntary pension fund units	free of charge
Single payment for purchasing voluntary pension fund units	free of charge
Switch No entry or redemption fees apply when switching between Swedbank’s voluntary pension funds and purchasing units thereof. A redemption fee is charged upon recovery (sale), incl. transfer to an insurance contract, according to the fund prospectus. Entry and redemption fees may be charged when switching between or purchasing or selling units of voluntary pension funds offered by other management companies according to the fund prospectus.
Switch	free of charge
Switch via an authorized natural or legal person	3,20 €
Payments No entry or redemption fees apply when switching between Swedbank’s voluntary pension funds and purchasing units thereof. A redemption fee is charged upon recovery (sale), incl. transfer to an insurance contract, according to the fund prospectus. Entry and redemption fees may be charged when switching between or purchasing or selling units of voluntary pension funds offered by other management companies according to the fund prospectus.
One-off payment	3,20 €
Fund pension (for persons of retirement age)	5 €
Application for terminating funded pension	free of charge
Recovery of pension fund units and transfer to insurance contract No entry or redemption fees apply when switching between Swedbank’s voluntary pension funds and purchasing units thereof. A redemption fee is charged upon recovery (sale), incl. transfer to an insurance contract, according to the fund prospectus. Entry and redemption fees may be charged when switching between or purchasing or selling units of voluntary pension funds offered by other management companies according to the fund prospectus.
Recovery of units and transfer to Swedbank Life Insurance contract	free of charge
Recovery of units and transfer to another insurance company’s contract	3,20 €
Succession No entry or redemption fees apply when switching between Swedbank’s voluntary pension funds and purchasing units thereof. A redemption fee is charged upon recovery (sale), incl. transfer to an insurance contract, according to the fund prospectus. Entry and redemption fees may be charged when switching between or purchasing or selling units of voluntary pension funds offered by other management companies according to the fund prospectus.
Recovery of inherited pension fund units	3,20 €
Transfer of inherited pension fund units to successor’s pension account	3,20 €
Recovery of inherited pension fund units and transfer to successor’s pension account	3,20 €
Pension account statement
Pension account statement from internet bank	free of charge
Pension account statement from a branch VAT will be added to the price.	1,60 €
Pension account balance notice	free of charge

Conditions of pension investment account

I am retiring

You will already be able to withdraw money from the PIA on more favourable terms 5 years before retirement. To make payments, you must first sell the securities in your PIA.

You can then choose between three options:

Regular payments (funded pension).
To do this, you have to transfer the money in the PIA to a pension fund. If you set a period for payments which corresponds to your life expectancy, then you are able to use the money with a 0% income tax rate. Having chosen a shorter period, the income tax paid on the payments is 10%.
One-off payout, the amount of which you have to pay 10% income tax on.
Whole life insurance contract or insurance for a specified term.

In case of no work ability, you can withdraw money tax-free.

Finish collecting sooner

From January 2021, money can also be withdrawn from the II pillar before reaching the retirement age. This may not be beneficial for you. Why?

By withdrawing money from your PIA, you stop collecting in the II pillar system. This means that you will also lose the state contribution (4% of your gross salary) to your personal pension account.
You will not be able to collect in the II pillar for the next 10 years. The higher your income, the greater your financial loss.
If you leave the II pillar, you will also have to sell your investment in your PIA. The payout is made in cash.
You have to pay income tax on the amount to be withdrawn.

Calculate the financial impact of leaving

Need advice regarding pension? Book a meeting to video consultation. Or call +372 6 310 310.

Pillar III

The only saving option that allows you to get a tax rebate on your contributions.

Micro Invest

New!

Investing is completely effortless. Your investments will be automatically topped up with a small amount from each card payment.

Investing in funds

You can even invest one euro at a time.

Not a customer yet?