Why choose SEB II pillar pension fund?
Competitive return:
13,57-15,90% per year*
Low management fee:
starting from 0,30%
We have been taking care of pensions for over 23 years
More than 100,000 clients trust us with their pension
A convenient overview of your pension savings in online banking
The ability to manage your savings quickly and easily
*The average annual return over a 3-year period for high-risk pension funds (SEB Pension Fund 18+ and SEB Pension Fund Index), as of 13 October 2025. Source: SEB Varahaldus. Past performance and activity of the fund do not constitute a promise or indication of future returns or the achievement of the fund’s objectives.
Choose according to your age
Select an SEB pension solution based on your age to ensure that your retirement savings are managed efficiently. To achieve optimal returns, younger savers are advised to choose investments with a higher proportion of equities, while those closer to retirement should prefer investments with a higher proportion of bonds and a lower share of equities. As the saving period shortens, investments should therefore be adjusted to become less risky and aligned with a more suitable risk level.
*The average annual return over a 3-year period for high-risk pension funds (SEB Pension Fund 18+ and SEB Pension Fund Index), as of 13 October 2025. Source: SEB Varahaldus. Past performance and activity of the fund do not constitute a promise or indication of future returns or the achievement of the fund’s objectives.
Frequently asked questions
The II pension pillar is part of a three-tier pension system. Each month, 2%, 4%, or 6% of your gross salary goes into your second pension pillar, and the state adds an amount equal to 4% of your gross salary, which is covered from social tax.
Contributions are invested in pension assets. It is important to choose a responsible pension provider and the solution that suits your age.
When you retire, you can withdraw money from the II pillar on more favourable terms and use it exactly as you need. The terms and conditions depend on the withdrawal solution chosen. The accumulated property is inheritable.
You can find your second pension pillar assets, chosen solution, and accumulated amount on the Pension Centre website or in SEB internet bank.
An age-appropriate pension solution is important to ensure that retirement savings are managed efficiently.
20+ years until retirement – active investing
At the beginning of the saving period, you can take on higher investment risk by choosing a solution that invests more in equities. This strategy offers the potential for higher returns over time.
10+ years until retirement – moderately active investing
As you approach retirement age, you can reduce your exposure to equities by choosing a moderately active solution that also invests in bonds. This approach provides a balance between growth and security.
Less than 10 years until retirement – balanced investing
Before retirement age, it is advisable to switch to a more conservative pension solution, focusing more on bond investments. This helps better preserve your accumulated assets.
Active investment strategy – fund managers regularly analyze the market, make data-driven assumptions, review the portfolio, and make changes if they believe those adjustments can lead to better long-term results. It also includes creating a positive impact on the environment and society. The goal of active management is to reduce losses during market downturns and take advantage of market upswings.
A passive investment strategy is represented by an index fund. An index fund invests in funds that aim to track the performance of stock market indices. Due to its different management style, an index fund also has a lower management fee.
Price list
| 1. Choice application for the II pillar pension fund | |||
| over the counter or in the SEB internet bank | free of charge | ||
| under power-of-attorney | EUR 3 | ||
| 2. Application for exchanging the II pillar pension fund units | |||
| over the counter or in the SEB internet bank | free of charge | ||
| under power-of-attorney | EUR 3 | ||
| 3. Succession application | |||
| resale of inherited fund units | EUR 22 | ||
| transfer of inherited fund units to the successor's pension account | EUR 3 | ||
| resale of inherited fund units and transfer to the successor's pension account | EUR 22 | ||
| 4. Payout applications | Bank office | SEB internet bank | |
|---|---|---|---|
| application for single payout | EUR 3 | EUR 3 | |
| statement of partial payment from pension funds | free of charge | free of charge | |
| application for payment from pension investment account | free of charge | free of charge | |
| funded pension application | EUR 5 | EUR 5 | |
| 5. Application for exemption from payment of mandatory funded pension contributions | EUR 5 | free of charge | |
| 6. Application for withdrawal of money from the mandatory funded pension | EUR 15 | EUR 7 | |
| 7. Application for payment of mandatory funded pension contributions | free of charge | free of charge | |
| 8. Application for cancellation of an application | free of charge | free of charge | |
| 9. Application for changing the contributions rate | free of charge | free of charge | |
Increasing contributions to the second pillar
You can choose whether to contribute 2%, 4%, or 6% of your gross salary to the second pension pillar. The state still adds 4% on top of this. This means you can build up a total pension contribution of 6%, 8%, or 10%. Due to the reduced inflow of your social tax, the solidarity component of your state old-age pension may decrease.
Increasing the contribution rate is voluntary; by default, the 2% rate remains in place. Raising your contribution rate is for many people a convenient way to save more for retirement – you only need to submit the application once. You can change your choice between 2%, 4%, or 6% of your gross salary once per year going forward.
If you submit your application before 30 November, the new contribution will apply from the following year, and for applications submitted in December, from the year after. You can submit the application in the Internet Bank.
- The automated and ‘invisible’ regular saving generates a saving and investment habit. Long-term saving is the right decision for securing your future. Raising your contribution rate will help build up your pension assets over the long term.
- It would be worthwhile to take the opportunity to increase contributions before making other investments. If you are investing on your own, you will need to earn a higher average annual return to achieve the same result compared to increasing your contributions to the pension fund
Have questions about Pension 2nd pillar savings? Let us call you!
Complete our simple form, and one our pension advisors will be in touch with you soon.
- Our professional team will help to find a suitable solution for you. In order to consult an expert, you can register for a video meeting, a phone consultation, or meet at an SEB branch office – whichever suits you best!
More about the second pension pillar
Pension disbursement
The optimal way to take out your II pillar is to conclude a fund pension in the retirement age. You will get regular monthly or quarterly pension that is income tax free or with lower income tax rate (10%), depending on the duration of the fund pension. II pillar retirement age begins 5 years before the (old-age) pensionable age.
Read more about fund pensions.
In the retirement age you can also withdraw assets saved in the second pension pillar as partial payouts or full payout, at your own discretion, at a time suitable for you. In this case, an income tax (10%) will apply to your payouts.
It is also possible to take out the whole II pillar before retirement age.
You can check your second pension pillar balance in the Internet Bank or on your Pension Centre account.
Advantages of the fund pension
- A long-term fund pension is income tax-free.
- Avoids the situation where the accumulated money is withdrawn in an unfavorable market situation.
- Remaining pension assets continue to earn returns even in retirement, thereby providing better protection against inflation
The whole accumulated amount can also be withdrawn as a lump sum. Income tax is levied at 10% at retirement age. Even when receiving the funded pension, you can decide to make a lump sum payout at any time. Lifetime pension is a contract with an insurance company under which you can receive regular pension payments for the rest of your life.
