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NEWS - 14. August 2017 09:15

Pension disbursements rise with interest hike by SEB pension pillars

Starting from today, SEB is raising the guaranteed interest rate of the disbursement solutions of the 2nd and 3rd pillar from 0.45 per cent to 0.7 per cent, which is among the best on the market. The new interest rate will be applied to SEB Pension Contracts and SEB Lifelong Pension Contracts concluded from 14 August. For our clients, it means bigger disbursements from the pension pillars.

More than 26,000 people have submitted their applications to receive disbursements from their investments into the 2nd and 3rd pension pillar. As the savings period has been brief, most of them have taken out the savings as a lump sum or receive regular payments from the pension fund. More than 5000 people, whose savings exceeded 50 times the national pension rate (more than EUR 8797), have concluded an agreement with an insurance company for lifelong pension payments.

‘As the pension savings period continues to increase and, in the future, the number of recipients will be several times greater, we must work towards making sure that our disbursement solutions are the best possible for the client. With this service, one of the most important factors for the client is the price. As the market’s overall interest levels dictate the price of the service, we are rather tightly bound by them. Today’s market allows us to offer a better interest rate on the disbursements of the 2nd pillar, which ensures a bigger pension for the client. If the market remains favourable, we will be able to continue to make the best pension offer to the client in the future,’ commented Indrek Holst, Chairman of the Management Board of SEB Elu- ja Pensionikindlustus.

For example, a client who retires at 63 years of age will receive a pension that is approximately 3% greater on account of the rise in interest rates.

SEB is currently the only financial institution on the Estonian market offering its clients both savings solutions as well as a complete range of disbursement solutions for the 2nd and 3rd pension pillar.

For more information:

Evelin Allas
Communications Manager
Marketing and Communications Division

Phone +372 665 5649
Mobile: +372 511 1718
Address Tornimäe 2, 15010 Tallinn

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