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II pillar funds

Only pension funds that tune after you

3 reasons to save for pension in Swedbank

  • The bar is high. The results of our funds have consistently been among the best in Estonia.
  • And fees low. This way you can save more.
  • Unique life-cycle funds. We have the only pension funds in Estonia, where risk level changes together with your age.
  • Pension funds tune after you. We have the only pension funds in Estonia, where risk level changes together with your age.
  • Good return. The results of our funds have consistently been among the best in Estonia.
  • Low fees. This way you can save more.

Boost your II pillar! Now you can increase contributions to 6% of your gross salary and save more without noticing. If you submit your application before the end of November, larger contributions will start to flow into the fund from the beginning of January.

Calculate my pension

Fees comparison

Your fund

This is your current pension fund.

Suits you

Convenient choice. Investments change together with your age.

Suits you
Fees until retirement
Your win compared to current fund -

Pension Funds

Generation 1980-89

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Stocks & bonds

Suitable for you, if:

  • you were born in the 80s;
  • you want the fund’s risk level to change with your age;
  • you want to never have to worry about switching funds again.


  • Actively managed fund
  • Current annual fees: 0.77%
  • Life-cycle fund that is suitable for entire saving period.

Actively managed fund

  • Current annual fees: 0.77%
  • Life-cycle fund in which the share of stocks and risk level changes within time
  • Suitable for entire saving periood

Index

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Stocks

Suitable for you, if:

  • you have at least 10 more years of pension saving ahead of you;
  • you have a relatively high risk tolerance;
  • you want to accumulate in an index fund.


  • Index fund
  • Current annual fees: 0.30%
  • Not a life-cycle fund.

Index fund

  • Current annual fees: 0.30%
  • Up to 100% of the fund's assets are invested in equity risk instruments
  • Suitable if there are at least 10 years left until retirement

Generation 2000-09

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Stocks & bonds

Suitable for you, if:

  • you were born in the 00s;
  • you want the fund’s risk level to change with your age;
  • you want to never have to worry about switching funds again.


  • Actively managed fund
  • Current annual fees: 0.83%
  • Life-cycle fund that is suitable for entire saving period.

Actively managed fund

  • Current annual fees: 0.83%
  • Life-cycle fund in which the share of stocks and risk level changes within time
  • Suitable for entire saving periood

Generation 1990-99

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Stocks & bonds

Suitable for you, if:

  • you were born in the 90s;
  • you want the fund’s risk level to change with your age;
  • you want to never have to worry about switching funds again.


  • Index fund
  • Current annual fees: 0.31%
  • Life-cycle fund that is suitable for entire saving period.

Index fund

  • Current annual fees: 0.31%
  • Life-cycle fund in which the share of stocks and risk level changes within time
  • Suitable for entire saving periood

Generation 1970-79

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Stocks & bonds

Suitable for you, if:

  • you were born in the 70s;
  • you want the fund’s risk level to change with your age;
  • you want to never have to worry about switching funds again.


  • Actively managed fund
  • Current annual fees: 0.79%
  • Life-cycle fund that is suitable for entire saving period.

Actively managed fund

  • Current annual fees: 0.79%
  • Life-cycle fund in which the share of stocks and risk level changes within time
  • Suitable for entire saving periood

Generation 1960-69

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Stocks & bonds

Suitable for you, if:

  • you were born in the 60s;
  • you want the fund’s risk level to change with your age;
  • you want to never have to worry about switching funds again.


  • Actively managed fund
  • Current annual fees: 0.77%
  • Life-cycle fund that is suitable for entire saving period.

Actively managed fund

  • Current annual fees: 0.77%
  • Life-cycle fund in which the share of stocks and risk level changes within time
  • Suitable for entire saving periood

Conservative

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Stocks & bonds

Suitable for you, if:

  • your retirement age is close;
  • you want to maintain the money you have already collected;
  • you are looking for a low-risk fund.


  • Actively managed fund
  • Current annual fees: 0.47%
  • Not a life-cycle fund.

Actively managed fund

  • Current annual fees: 0,47%
  • At least 80% of the fund's assets are invested in bonds, money market instruments and deposits.
  • Suitable choice if you want a low-risk fund and are about to retire.

*Pension fund return on an annual basis as of 30.09.2024.

The II pillar is your personal reserve of funds, helping you to ensure a more carefree retirement.

In the pension fund, your funds are invested. This gives you the chance to grow your money for retirement.

You can automatically contribute to the II pillar by making monthly contributions from your gross salary.

You decide whether to contribute 6%, 4% or 2% of your monthly salary, with the state adding an extra 4%.

The monthly payment to the II pillar is only a small part of your salary, but if you save over the years, it provides a significant reserve.

You can keep an eye on your pension savings via the Internet bank. If you feel you could do with more for a pleasant retirement, you may decide to contribute to the III pillar. You can make contributions at a time and in an amount that suits you best.

There are several reasons why it is beneficial to build up a pension in Swedbank.

  • You can choose a fund with low fees. This way, you accumulate more money.
  • Excellent return. The rates of return of our pension funds have consistently been among the best in Estonia. You can track the return of the pension funds on the website of the Estonian Funded Pension Registry.
  • You can easily find the fund that suits you best by your year of birth, and you can accumulate in the same fund until you retire, as the fund’s risk level changes over time.
  • Your pension is looked after by experts in their field.

When investing for retirement, it is important to be in a fund with the right risk level for your age. You can risk more when you still have a long time to save, but as you approach retirement age it makes sense to reduce the level of risk to preserve the value of the money you have saved.

Life-cycle funds

In unique life-cycle funds, the proportion of shares and the associated risk level changes automatically over time with your age.

  • You can save in the one fund that is right for you until retirement.
  • There is no need to switch funds at any point.

Index fund

Suitable for you if you are at least 10 years away from retirement and are willing to take a higher risk to build up your pension savings.

  • Lower fees. This way, you accumulate more.
  • The value of a fund unit can fluctuate significantly in the short term, as up to 100% of the fund’s assets are invested in equity risk instruments.
  • The level of risk does not change over time, and it makes sense to switch funds as retirement approaches.
  1. Find a suitable fund on this page.
  2. Submit the application in the Internet Bank to direct monthly contributions and transfer already accumulated pension assets to suitable fund.
  3. Contributions to the selected fund will start the following month.
  4. Pension assets accumulated are transferred three times a year.

    When you submit an application to transfer previously collected assets to new fund between:

    • 1. August – 30. November, exchange takes place on the first working day of January;
    • 1. December – 31. March, exchange takes place on the first working day of May;
    • 1. April – 31. July, exchange takes place on the first working day of September.
  1. Find a suitable fund on this page.
  2. Go to the Internet Bank you prefer, find the II pillar page and the place where you can switch your pension fund.
  3. By switching funds, you can choose among all of the II pillar funds in Estonia. Locate suitable Swedbank fund and select it. We also recommend to transfer the already accumulated pension assets.
  4. Contributions to the selected fund will start the following month.
  5. Pension assets accumulated are transferred three times a year.

    When you submit an application to transfer previously collected assets to new fund between:

    • 1. August – 30. November, exchange takes place on the first working day of January;
    • 1. December – 31. March, exchange takes place on the first working day of May;
    • 1. April – 31. July, exchange takes place on the first working day of September.

The main goal of saving for a pension is, of course, your financial well-being in the future. However, sustainability should also be kept in mind. We believe that responsible investments create added value for you in the long term and give you the opportunity to use your savings in a cleaner, more diverse and safer world.

When investing pension money, we take into account the impact of investments on the environment. Mitigation of climate change, protection of human rights and development of corporate management culture are important to us.

  1. Follow your values by choosing a pension provider with sustainability ambitions. As of 31.03.2024 Swedbank pension funds have invested:
    • 499 million euros to funds that follow environmental, social and governance principles (ESG aspects);
    • 1304 million euros in stock and bond baskets filtered with ESG aspects;
    • 115 million euros in ESG-themed stock baskets (e.g. electric cars, cyber security).
  2. Sustainable pension funds exclude damaging industries. Swedbank has a “blacklist” for companies in which we don’t invest. Read about our Responsible Investment Policy here.
  3. You can always check if your pension provider is paying attention to sustainable investments. The average ESG rating of our pension funds is A (source: MSCI).

We asked pension savers how they would allocate 1000 euros for sustainable investment. Here are their answers.


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Source: Swedbank survey 2022

Support sustainable business with your pension savings

When money is invested in sustainable companies, it contributes to social and environmental well-being and responsible business.

Source: World Federation of Exchanges

  • CO2 Emissions
  • Energy usage
  • Natural resource usage
  • Waste and pollution
  • Climate change mitigation
  • Employee health & well-being
  • Human rights
  • Gender equality
  • Non-Discrimination
  • Fair pay
  • Business ethics
  • Transparency
  • Anti-corruption
  • Reporting
  • Responsible suppliers
Documents and information which are published based on the requirements of Regulation (EU) 2019/2088 of the European Parliament and of the Council on sustainability‐related disclosures in the financial services sector, can be found here.

When you retire you have three options to start using your money.

  • Regular payouts, i.e. fund pension. If you set a period for payouts, which corresponds to your life expectancy, then you are able to use the money with a 0% income tax rate. For a shorter period, the income tax is 10%.
  • One-off payout (can also be partial), on the amount of which you have to pay 10% income tax.
  • Whole life insurance contract or insurance for a specified term.

You will already be able to withdraw money on more favourable terms 5 years before retirement. In case of no work ability, you can withdraw money tax-free.

If necessary, you can opt out of the II pillar and withdraw the accumulated amount before retirement age. Financially, this is a harmful decision for you.

Calculate the opt out cost

The assets you accumulate in your II pillar are fully inheritable.

It is up to the heirs to choose whether to withdraw the accumulated money or to inherit the fund units, which will be transferred to their pension accounts. These options can also be combined: to withdraw part of the money and transfer part of the fund units to a pension account.

If the heirs decide to withdraw the money that has been saved, they will have to pay income tax on the amount.

Legal heirs can apply for the redemption of inherited investment units.

Need advice regarding pension?

Book a meeting to video consultation.
Or call +372 6 310 310.

One of the most useful ways to save, as you can use the income tax incentive and make contributions in the amount and at the pace that suits you. You can save money in a subtle and smart way. For example, when paying with a bank card in a shop. Life insurance supports your family when you are unable to do so. Calculate the monthly payment and life insurance sum that would meet your family's needs. Swedbank Robur funds – invest as little as 1€ at a time. Buying, selling, and holding fund units in your portfolio is always free of charge.

Fees of Swedbank pension funds are favourable

Pension fund Current fees
K1990–1999 index fund 0,33%
K10 0,37%
K30 0,66%
K60 0,65%
K100 0,66%

Fees as of 01.08.2021. You can view the current fees of all funds provided in Estonia on the website at www.pensionikeskus.ee.

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SWEDBANK AS
Liivalaia 8, 15040 Tallinn
SWIFT code/BIC: HABAEE2X
Reg. number: 10060701

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This is a website of companies offering financial services – Swedbank AS, Swedbank Liising AS, Swedbank P&C Insurance AS, Swedbank Life Insurance SE, and Swedbank Investeerimisfondid AS. Before entering into any agreement read the terms and conditions of the respective service. Consult a specialist, where necessary. Swedbank AS does not provide a credit advisory service for the purposes of the Creditors and Credit Intermediaries Act. The borrower makes the decision of taking out a loan, who assesses the suitability of the loan product and contractual terms to his/her personal loan interest, need and financial situation on the basis of the information and warnings presented by the bank and is responsible for the consequences related to concluding the agreement.