What is changing in II pillar?

Faster rejoining
If you have left the II pillar, you will be able to rejoin after just 5 years instead of the current 10 years.
More flexibility
If needed, you can withdraw part of the accumulated money, while the remaining pension assets can continue to grow.
Money grows until retirement age
The accumulated money is invested until retirement age, giving it as much time as possible to grow. 

If you return to the II pillar

✅More money for pension.
✅Possibility to grow pension savings through investment returns.
✅4% from social tax moves to the II pillar and starts earning through returns.
✅You can increase contributions to 4% or 6%, building a larger pension.
✅It is your money in your pension fund: you own it, and it can be inherited.

If you rely only on state pension

❌Your pension may be less than 1/3 of your current income.
❌I pillar money is not invested, so it cannot grow.
❌4% tax part stays in the I pillar and does not grow through investment.
❌You do not have the option to increase contributions.
❌The I pillar is paid from future workers’ taxes. It is not personal savings that belong to you.

FAQs

If you withdrew your money from the second pension pillar five years ago, you can rejoin. You can check your eligibility here.

The option to rejoin depends on when your withdrawal from the second pillar took effect. You can check the exact date in the Pension Centre.

No. You can check when you are eligible to rejoin through the relevant service.

  • Submit an application to rejoin.
  • Choose a suitable fund that matches your age.
  • To give your savings a stronger start, choose a 6% contribution rate.

It depends on when you submit the application: if you submit the application by 30 November, contributions will start from 1 May 2026.

  • Application by 31 March → contributions start from 1 September
  • Application by 31 July → contributions start from 1 January

Log in to SEB Internet Bank and you will be shown step-by-step what you need to do. You can also submit the application in the Pension Centre.

To be confirmed.

Calculator content/link to be added.

In fact, regular saving matters more than the size of each contribution. Even if your salary is modest right now, the state contribution is added to your own contribution in the second pillar. If your income grows in the future, your contributions will also increase automatically.

You can choose whether to contribute 6%, 4% or 2% of your gross salary to the second pension pillar.

A financially smart decision is to increase your contribution to 6%, to which the state continues to add 4%. This means that a total of 10% of your salary is already being saved for your retirement.

Read more about increasing contributions here:
Increase II pillar contributions

Calculate how much you could accumulate for retirement with different contribution levels: P2 calculator link.

You can change your contribution rate once a year.

In the second pillar system, the state’s 4% contribution is added to your own 6%, 4% or 2% contribution.

The state still adds 4% from the social tax share, allowing you to save either 6%, 8% or 10% for retirement. Because less social tax is allocated to your state pension, the size of the solidarity component of your state old-age pension may decrease.

According to the proposed change, you will be able to save until retirement age and only then start using the accumulated money.

The money saved for retirement works for your future. Even if you missed out on returns for a period, you may still have many years or even decades until retirement. During that time, your accumulated assets can continue to grow.

The earlier you start, the more time your money has to grow. But even if you start later, it is not too late. If there is still plenty of time until retirement, your accumulated assets can continue to grow.

Five years is enough time to accumulate a meaningful amount. Although the saving period is shorter, you can increase your own contribution to 6%, to which the state adds a 4% contribution from your gross income. This still helps grow your pension assets.

With the average gross salary of 2,135 euros, this means setting aside 2,568 euros per year. Over five years, this adds up to almost 13,000 euros. Fund returns may increase or decrease the result.

The first pillar is the state’s promise to pay you a pension for the rest of your life. The money accumulated in the second pillar, both your own contribution and the state’s contribution, is inheritable.

Yes. Choose a suitable fund where your future contributions will be invested.

Enter your age in this calculator and you will see a selection of funds suitable for your age.

To be added.

To be added.

It depends on when you submit the application: if you submit the application by 30 November, contributions will start from 1 May 2026.

  • Application by 31 March → contributions start from 1 September
  • Application by 31 July → contributions start from 1 January

To be added.

Answer 5

Answer 6

Answer 7

Answer 8