Parex pension 1

Take part in the pension reform!

So far, the principle of solidarity was functioning in Lithuania, i.e., by paying social insurance contributions to SODRA, employees have been maintaining current retired individuals. Now, participation in the pension reform and choice of the Parex pension accumulation funds will give you the opportunity to increase the funds on your account by investment thereof.

The second-pillar pension scheme is the system of accumulating a part of the state social insurance contribution, when a part of the contribution is transferred from Sodra and saved in the funds for accumulation of the part of the state social insurance contribution: Parex pension 1 or Parex pension 2. This part of the contributions transferred from Sodra to the Parex pension accumulation funds is consistently increasing. It means that without any additional contributions you transfer to a personal account opened with the Parex pension accumulation funds a certain percentage of your contributions to Sodra and this percentage is regularly growing:

	Fist-pillar pension scheme	Second-pillar pension scheme
2005 metai	31,5%	3,5%
2006 metai	29,5%	4,5%
2007 metai	28,5%	5,5%

Accordingly, without paying any additional cent you have capital rising on your account for your future pension. Upon reaching the respected age you will receive two pensions instead of one, i.e., the statutory pension paid by Sodra and the pension you have saved in the Parex investment fund.

Give credit to advantages!

Participation in the pension accumulation reform:

• will enable you to increase your old-age pension without payment of any additional contributions (a part of your contributions to Sodra is transferred to your personal account with the private pension accumulation fund after deduction of fund's administration fees specified in the rules);
• will entitle you to receive two pensions upon reaching the respected age (the statutory pensions paid by Sodra and additional pension saved in the private fund);
• funds accumulated within the pension reform are your property, which could be inherited by your relatives;
• you will retain the right into all social insurance benefits due to you (sickness allowance, maternity benefit, benefit in case of accidents at work, etc.).

Choose Parex pension fund!

Parex Pensija 1	Conservative Pension Fund
	The objective of this fund is to create a precondition for stable growth of the assets of the pension fund. Choosing this strategy of pension savings, you can anticipate small but regular profit.
Investment strategy	Assets of the fund are invested into government debt securities (bonds) only.
Administration fees*	Asset management fee - 0% of the average annual value of the assets accumulated in the pension fund participant’s account. Contribution fee – 0% of contributions received on participant's behalf.

* By the decision of The Company’s Board administration fees are valid during the first quarter of 2010. Maximum administration fees are indicated in “Parex Pensja 1” Rules.

Rules (168 KB)

We are glad to give you the opportunity to make your own decision and to choose the pension fund you would like take part in.

We aim to surpass your expectations!

"Citadele investicijų valdymas" will seek to ensure:

• professional investment management;
• regular and thorough information about your savings;
• reliable handling of funds accumulated for your pension;
• opportunity to choose safe fund-raising and reliable investment;
• opportunity to receive information on Internet.

It's up to you to choose - we can only help you!

Important information:
In compliance with the procedure stipulated in the Law on State Social Insurance Pensions, state social insurance old-age pension will be proportionally reduced to signatories of pension accumulation contracts and participants of pension accumulation schemes.

Investment risk falls on the participant of the pension accumulation fund.