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Frequently Asked Questions

II pillar

I am accumulating a II pillar pension in another company, can I become a Goindex customer?
Yes, you can freely choose a pension accumulation company. If you want to switch from another company, it is enough to conclude a pension accumulation agreement with Goindex.

You can conclude a pension accumulation agreement by logging into the Goindex self-service portal.

What are the contract service fees?
There is an annual fund management fee that ranges from 0.18% to 0.45% depending on the fund you invest in.

There are no fees for changing funds within the Goindex company or switching your contract to another company.

Is it possible to withdraw part of the accumulated funds without termination of the contract?
According to the law, it is not possible to withdraw part of the accumulated funds from the II pillar pension funds until you reach the retirement age. After reaching retirement age, several payment options are available depending on the size of the accumulated amount and your further choice.

Are funds accumulated in a pension fund inherited?
Yes, funds are inherited.

Where do pension funds invest?
Pension funds invest in globally diversified equities and European bonds index funds and ETFs (exchange traded funds).

What contributions will I pay in the II pillar?
Until the beginning of 2023, one of 2 accumulation options is possible: 1) 2.7 percent you save from your remuneration before tax and the state contributes 1.2% from the average salary of the country; 2) 3 percent you save from your remuneration before taxes and the state contributes 1.5%. from the average salary of the country. From 2023, only the second option will remain. You can also pay additional contributions of your choice and get a personal income tax benefit from them (up to 20% of contributions), which can reach up to 300 euros per year.

How is II pillar pension paid out?
If exactly 5 thousand euros or less accumulated in the II pillar pension fund, the pension accumulation company will have to pay this amount as a one-time payment.

If more than 5 thousand euros are accumulated in the II pillar pension fund, but less than 10,000 euros, the pension accumulation company will pay periodic payments until the recipient turns 85.

If more than 10,000 euros is accumulated in the II pillar pension fund, you will be offered to purchase a standard annuity, a standard annuity with guaranteed payment period or a deferred pension annuity (together with a periodic payment). The annuity payments will be paid by ""Sodra"". After accumulating more than 60 thousand euros, it is possible to withdraw an amount exceeding the specified amount in a single payment.

All detailed information about the payment methods you will find it on the website of the Bank of Lithuania.

How can I pay my contributions?
Contributions to the II pension pillar are calculated and transferred automatically from your salary. You can also make additional contributions to your pension savings account in a convenient way by connecting to Goindex self-service portal.

What should I do, if I was automatically enrolled in pension savings?
If you are enrolled in savings for the first time and want to save, you do not need to do anything. You can choose any other pension savings company than was assigned to you automatically. If you are included for the first time or repeatedly (in the same company where the accumulated amount is suspended) and you do not want to accumulate, then by July 1 of the calendar year you must submit a request to Sodra. You can do this by logging in to Sodra self-service.

How do I find out in which company I am accumulating the II pillar pension?
You can check this information by logging in to Sodra self-service.

What should I do if I have stopped accumulation in another company and want to update and accumulate it in Goindex?
In order to switch from another company and accumulate a pension in Goindex, you will be able to choose renewal of contributions in the Goindex self-service portal during the conclusion of the contract.

Is it possible to stop the accumulation in the II pillar?
The laws governing the accumulation of pensions in II pillar do not provide the possibility of terminating participation and withdrawing funds accumulated in the pension fund before reaching retirement age, unless the participant has been assigned early retirement Sodra's pension. Exception applies to the first concluded II pillar accumulation contract. You can unilaterally terminate the II pillar accumulation agreement concluded for the first time by notifying the pension accumulation company in writing within 30 days of the conclusion of the agreement. There is also the option of suspending payments for up to 12 months throughout the accumulation period.

Can I choose a fund other than the one I was assigned automatically according to the life cycle principle?
Yes, you can choose the fund according to your needs, but it is recommended to save in your age group fund.

How does accumulation in life cycle funds work?
Investments of funds intended for younger participants of pension funds are directed to riskier asset classes (to shares) - although their value fluctuates more, but in the long term, they allow to earn more, and the older they are – to less risky asset classes (to bonds), allowing to preserve the accumulated property. The funds change the investment proportions automatically, according to the age of the participants.

How can I sign a contract?
Connect to Goindex self-service with one of the three login methods (Smart-ID, Mobile signature or with an identity document (ID card or passport)) and with the help of a wizard, you will conclude the contract in 5-7 minutes.

How to change pension fund or company?
You can change the pension fund in the Goindex self-service portal by clicking a few buttons. In order to change the company, you only need to submit a request to the company to which you want to transfer the accumulated pension. It can be done easily on Goindex self-service portal within 5-7 minutes.

Where can I get acquainted with the pension fund's documents and reports?
All information is available on the Goindex website.

Is it save to accumulate pension with Goindex?
Yes, it is safe to accumulate pensions in Goindex. We are a licensed pension accumulation company, our activities are supervised by the Bank of Lithuania and the assets of the pension funds are kept in a depository bank (SEB bank).

More about security:
- Security from the pension accumulation company and its creditors. The assets constituting the pension fund are the joint partial ownership of the participants. These assets are separated from other pension accumulation company assets and other pension fund assets managed by the same pension accumulation company. The pension fund assets are kept in a depository. The pension accumulation company owns, uses and disposes of the property on the basis of trust law, therefore the company's creditors do not have any rights to the pension fund's assets.
- Protection against bankruptcy of the pension accumulation company. If a pension accumulation company that manages pension funds goes bankrupt, the bankruptcy administrator appointed by the court would transfer all the assets of the pension funds to another pension accumulation company for management in accordance with the procedure established by the Bank of Lithuania. Each participant could choose another pension accumulation company to which all funds accumulated in the pension fund would be transferred. Since the assets of the pension accumulation company are separated from the assets of the pension funds it manages, the bankruptcy of the pension accumulation company does not affect the amount of the participant's accumulated assets.
- Protection against greater depreciation of investments. A number of safeguards are in place to help prevent further devaluation of investments. One of the measures is investment diversification: pension fund assets, following the laws regulating pension accumulation activities, must be invested in various investment instruments, asset classes, regions or sectors. In addition, investments can only be made in certain investment instruments of specified countries, investments must be distributed in specified parts, etc.

When will I be able to use my accumulated pension?
When you will reach retirement age.

How to sign a panesion payout agreement?
You will be able to sign a pension payout contract by submitting an application to the company in a convenient way for you. You can find more information about the methods of pension payments on the website of the Bank of Lithuania.

What is a retirement annuity?
Pension annuity – a periodic pension payment from the amount accumulated in the fund is paid to the participant of the pension fund for life. You can find more information about pension annuities on Sodra's website.

What should I do if I am an heir to the accumulated assets?
In this case, you should contact the company and submit a request for the payment of the inherited part.

Contact us by e-mail. by mail [email protected]. or by phone +37052300333.

Who should I contact for additional consultation?
Contact us by email by mail [email protected]. or by phone +37052300333.

III pillar

How funds are accumulated?
Funds are accumulated in the pension fund of your choice by choosing the payment method of e-invoice contributions or by transferring contributions independently to your pension fund account.

How to pay my contributions?
The easiest way to make regular contributions is to use the functionality of e-invoices. Invoices will be sent regularly to the bank of your choice, and if you choose the automatic payment method, you will be sure that they will be paid on time. You can also pay the contributions yourself at any time by transferring the desired amount to your pension fund account.

How can I use tax benefit?
By declaring income once a year and indicating the amount of contributions paid to III pillar pension fund/s, it is possible to get a personal income tax benefit from them (up to 20% of contributions), which can reach up to 300 euros per year. This amount of tax relief is common to all contributions paid into II and III pillar pension products and unit-link life insurance products.

When can funds be withdrawn from III pillar funds?
You can withdraw funds accumulated in III pillar pension fund at any time. However, it is recommended to save for retirement and use the funds after reaching retirement age, as withdrawals earlier than 5 years before retirement age may require the return of personal income tax benefit, if you used it, as well as capital gains taxes. Always assess your personal tax situation.

Where do pension funds invest?
Pension funds invest in globally diversified equities and European bonds index funds and ETFs (exchange traded funds).

What is the difference between accumulation in III pillar and II pillar?
In II pillar, the contributions, which are calculated from the salary, are transferred to the pension fund by the employer and Sodra. If you decide to save in this way, you need to participate in II pillar until retirement age. During the entire period of accumulation, the funds are the property of the accumulater, which is also inherited. Funds are invested in a pension fund managed by a company chosen by the saver, making it possible to accumulate additional to Sodra pension. If you choose the maximum accumulation, the monthly payment is 3% from your salary, to which the state adds 1,5% from the countries average salary.

III pillar works on the same principle as II pillar, but it is a voluntary method of accumulation with more flexibility and less role of the state. The client decides how often and how much money to allocate. If necessary, the accumulation contributions can be temporarily suspended. During the entire period of accumulation, the funds are the property of the accumulater, which is also inherited. The state provides personal income tax benefit for up to 20% of contributions, which can reach up to 300 euros per year.

Why is it worth saving in III pillar pension funds?
If you are already participating in I pillar pension system (state social insurance pension) and in II pillar pension accumulation, the pension you will receive will only amount to about 45% of your current monthly income. This means that if you retired tomorrow, your income would not reach half of your current salary.

To maintain your lifestyle you are used to, your pension should be at least 70% of your current income. It is realistic to ensure this if you participate also in III pillar pension accumulation. You can do this at Goindex in any time, but we recommend to start as soon as possible.

What are the contract service fees?
There is an annual fund management fee of 0.60%.

There are no fees for changing funds within the Goindex company or switching your contract to another company.

Are funds accumulated in a III pillar pension fund inherited?
Yes, funds are inherited.

Is it possible to stop contributions to the III pillar pension fund if I have e-invoice payments?
Yes, you can suspend payments any time.

What is the minimum contribution in III pillar funds?
There is no minimum payment amount. You can accumulate by paying contibutions of your choice of amount. We recommend taking maximum advantage of the applicable personal income tax benefit. By declaring income once a year and indicating the amount of contributions paid to III pillar pension fund/s, it is possible to get a personal income tax benefit from them (up to 20% of installments), which can reach up to 300 euros per year (from up to 1500 euros annual contributions).

Where can I get acquainted with the pension fund's documents and reports?
All information is available on the Goindex website.

How are III pillar funds different from Life insurance unit-link products?
III pillar pension funds and life insurance unit-link are two different products.

1. Purpose. If the goal is to save for a pension with the lowest possible costs, then you should choose a III pillar pension fund. If the goal is to insure life and other risks with an additional opportunity to accumulate funds for the future, then life insurance unit-link product may be appropriate for you, as it is two products in one.

2. Fees. Accumulating funds in III pillar pension funds is almost always cheaper than in life insurance unit-link products. III pillar pension fund is a product specifically meant for saving for retirement, therefore its fees structure is usually simplified to a single fee – an annual percentage of the value of the invested assets (in the case of Goindex, this fee is 0.6%). Meanwhile, life insurance unit-link is a more complex product with a more complex fees structure – regular fees can be made up of several components, there can be various additional fees, such as termination fees, which are especially high at the beginning of accumulation, and others fees. You can find detailed information about life insurance unit-link products' fees on the Lietuvos bankas internet page.

3. Flexibility. After choosing III pillar pension funds, their management company can be changed at any time. Meanwhile, in the case of life insurance unit-link products, the company cannot be changed.

4. Ease of investment. III pillar pension funds are a much simpler investment vehicle – it is designed to make it easy for anyone to assess investment opportunities and risks. Depending on the age, simple funds are offered, with investments broadly diversified between different regions of the world, usually divided by share of stocks and bonds. After deciding to invest in life insurance unit-link product, you need to understand and choose by yourself the most suitable investment direction, which are usually quite many and varied.

5. Security. III pillar pension funds are managed only by fiduciary law (discretionary) – i.e. the assets of pension fund participants are separated from the assets of the company itself. If the pension accumulation company is faced with solvency problems (e.g. went bankrupt), there would be no risk to the assets of the pension funds – the assets of the funds would be transferred to a new asset management company for management according to the law. Meanwhile, in life insurance companies, despite the fact that they must comply with the legal requirements, for the reason of various technical details of financial accounting, investment assets are not separated from company assets. Therefore, if the insurance company would face solvency problems, the amount accumulated in the life insurance contracts may be at risk.

Is it save to accumulate pension with Goindex?
Yes, it is safe to accumulate pensions in Goindex. We are a licensed pension accumulation company, our activities are supervised by the Bank of Lithuania and the assets of the pension funds are kept in a depository bank (SEB bank).

More about security:
- Security from the pension accumulation company and its creditors. The assets constituting the pension fund are the joint partial ownership of the participants. These assets are separated from other pension accumulation company assets and other pension fund assets managed by the same pension accumulation company. The pension fund assets are kept in a depository. The pension accumulation company owns, uses and disposes of the property on the basis of trust law, therefore the company's creditors do not have any rights to the pension fund's assets.
- Protection against bankruptcy of the pension accumulation company. If a pension accumulation company that manages pension funds goes bankrupt, the bankruptcy administrator appointed by the court would transfer all the assets of the pension funds to another pension accumulation company for management in accordance with the procedure established by the Bank of Lithuania. Each participant could choose another pension accumulation company to which all funds accumulated in the pension fund would be transferred. Since the assets of the pension accumulation company are separated from the assets of the pension funds it manages, the bankruptcy of the pension accumulation company does not affect the amount of the participant's accumulated assets.
- Protection against greater depreciation of investments. A number of safeguards are in place to help prevent further devaluation of investments. One of the measures is investment diversification: pension fund assets, following the laws regulating pension accumulation activities, must be invested in various investment instruments, asset classes, regions or sectors. In addition, investments can only be made in certain investment instruments of specified countries, investments must be distributed in specified parts, etc.

I am accumulating a III pillar pension in another company, how can I transfer it to Goindex?
This easily can be done in 5-7 minutes by signing up for Goindex self-service. After concluding a new contract with Goindex, submit it to the pension accumulation company from which you want to transfer the contract to Goindex, and this company will transfer the accumulated amount to your newly concluded contract in Goindex.

I am accumulating a III pillar pension in Goindex, how can I transfer it to other company?
Enter a new contract with another company of your choice and submit the new contract to Goindex so that we transfer your accumulated amount to your newly concluded contract with another company.

How much can I accumulate in III pillar pension fund?
We invite you tu use our interactive pension calculator and in a few minutes you will receive relevant information about the pension you can accumulate and tips on how to get the best pension return.

What should I do if I am an heir to the accumulated assets?
In this case, you should contact the company and submit a request for the payment of the inherited part.

Contact us by e-mail. by mail [email protected]. or by phone +37052300333.

Who should I contact for additional consultation?
Contact us by email by mail [email protected]. or by phone +37052300333.

Employer pension

How can I accumulate funds for my employees?
Employer can contribute to empoyee's both – II and III pillar. Mst popular is III pension pillar because of its flexibility. As employer you can choose the size of contributions and the duration of accumulation. Often, in order to achieve long-term employee motivation, employers link the amount of the contribution to the length of time worked or the professional qualification of the employee.

What benefits do the employee and the employer receive?
By contributing to employee pension contributions, you show that you care about the future of employees. The employees know that in order to ensure financial stability in the future, Sodra's pension will not be enough. An employer who helps take care of an employee's future well-being wins the trust and loyalty of employees. Employer savings, if carried out as a means of promotion, are subject to tax benefits: employer contributions are exempt from personal income, employer and employee social insurance taxes.

Where can I get more information about pension accumulation for an employee?
Please contact us by email by mail [email protected]. or by phone +37052300333.

How to conclude III pillar pension agreement to accumulate with an employer?
Please contact us by email by mail [email protected]. or by phone +37052300333.

Where do I go as an employee to initiate pension accumulation through an employer?
Please contact us by email by mail [email protected]. or by phone +37052300333.

What are the contract service fees?
In II pillar there is an annual fund management fee that ranges from 0,18% to 0.45% depending on the fund you invest in. In III pillar there is an annual fund management fee of 0,60%.

Who owns the employer's accumulated funds for employees?
Funds are accumulated for the benefit of the employee. Often, in order to achieve long-term employee motivation, employers accumulate contributions for the employee as long as he or she works for the company. Upon termination of the employment relationship, the employer usually transfers the accumulation contract with the accumulated funds to the employee.

Self Service

How to log in to Goindex self-service portal?
You can log in to Goindex self-service portal in a most convenient way for you: Smart-ID, Mobile signature or with an identity document (ID card or passport).

What data I can see in Goindex self-service portal?
In the Goindex self-service portal you can see all the information about the available II pillar and III pillar pension accumulation contracts, change their settings. Additionally, you can see visually presented information about the accumulated amounts for the accumulated pension, earned investment return and other information, as well as calculate the expected old-age pension with the help of the calculator in the self-service and get recommendations on how you can increase it.

How to sign a II pillar pension accumulation contract and become a Goindex customer?
It is extremely easy to become a Goindex customer - register in the Goindex self-service portal in a most convenient way for you (with Smart-ID, Mobile signature or with an identity document), where you will conclude a II pillar pension accumulation contract with the help of a wizard in a few steps.

How to sign a III pillar pension accumulation contract and become a Goindex customer?
It is extremely easy to become a Goindex customer - register in the Goindex self-service portal in a most convenient way for you (with Smart-ID, Mobile signature or with an identity document), where you will conclude a III pillar pension accumulation contract with the help of a wizard in a few steps.

How to sign a II pillar pension accumulation contract if you are already a Goindex customer?
In the Goindex self-service portal, select "II pillar" at the top of the main menu, and with the help of a wizard, you will sign a II pillar pension accumulation contract in a few steps.

How to sign a III pillar pension accumulation contract if you are already a Goindex customer?
In the Goindex self-service portal, select "III pillar" at the top of the main menu, and with the help of a wizard, you will sign a III pillar pension accumulation contract in a few steps.

Can I save in more than one III pillar pension fund?
Yes, you can invest in both III pillar funds: "Goindex pasaulio akcijų" and "Goindex subalansuotas".

How to change the fund?
You can change the fund in the Goindex self-service portal's section "Contracts" by entering the settings of the desired contract and clicking the "Change fund" button in the line "Fund".

How to create an e-invoice?
In the payments setting step at Goindex's self-service portal you will be able to choose the e-invoice payment method. If you already have a contract you can change the method of payments, the amount or other settings in the "Payment section" or "Contracts/Regularity" section of III pillar.

How does e-invoice payment work?
An e-invoice is an electronic document that Goindex will provide to your bank based on your settings. Payments via e-invoices are simple and safe – after opening e-invoice you will see that all the necessary information has already been filled in the payment order. We recommend setting up automatic payment, then contributions to your pension fund will be made even easier.

How to adjust e-invoice?
You can adjust your e-invoice by logging in to Goindex self-service portal and selecting the desired contract in the section "E-invoices" (if you have more than one).

How to submit a vacation leave request? (II pillar pension)
You can submit a request for temporary leave in the Goindex self-service portal's section "Contracts" and going to the contract settings.

How to resume suspended contributions to the II pillar pension fund?
You can submit a request to renew suspended payments in the Goindex self-service portal's section "Contracts" and going to the contract settings.
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