The new Rules of mandatory pension funds starting from 01.08.2015

AS SEB Varahaldus notifies that the Rules of mandatory pension funds have been amended.

SEB Energetic Pension Fund
SEB Progressive Pension Fund
SEB Optimal Pension Fund
SEB Conservative Pension Fund

The Supervisory Council of SEB Varahaldus approved the amendments to the Rules on May 5, 2015. The Financial Supervision Authority was informed of the amendments on May 29, 2015. The changes are a result of the entry into force of Regulation No. 23 of the Minister of Finance of June 26, 2014, which involves a change to the management fee calculation principles for mandatory pension funds. According to the above regulation, starting from August 1, 2015, the management fee rate for mandatory pension funds shall be reduced based on the total market value of the assets of all mandatory pension funds managed by the management company. Until now, management fees were reduced on the basis of a fund-specific approach.

The amendments to the Rules will enter into force on August 1, 2015.

The amended Rules can be reviewed at the website of SEB Varahaldus at www.seb.ee/fondid and in SEB branches all over Estonia. Unit holders have the right to receive clarification of the importance of the amendments to the Rules.


For further information about the amendments to the Rules please contact us by phone on 665 6100 or by e-mail at fondid@seb.ee.