Navigate to main page content
Become a customer

III pillar funds

Win from the tax relief!

III pillar – one of the most useful ways to save for the long term

  • Income tax relief. It is possible to get a 20% income tax refund on contributions. For example, if you save EUR 100 per month, you will save EUR 264 per year.
  • Low fees. This way you collect more money.
  • Transparent pricing. Our funds have no hidden fees.
Choose collecting pace that suits you You can contribute flexibly It is possible to withdraw the money at any time



The calculator provides an overview of the investment yield over a given period, but the results do not indicate a maximum or minimum yield. The yield displayed in the calculator is not guaranteed and is not based on actual market performance. When investing, note should also be taken of the fees and risks involved. The value of an investment may increase or decrease over time and the yield history does not guarantee similar results in the future.

The internationally used long-term historical yield on equities is 7% on an annual basis, but this may not translate into a similar yield for a III pillar fund. Additionally, pension funds have different risk levels and investment profiles.

The basis for the income tax refund is the income tax rate of 20%. The income tax refund only applies with regard to those contributions that you have made yourself, and which amount to up to 15% of your gross income, but do not exceed 6000 euros.

When should I start saving and how much should I contribute each month?

Majority of people expect their pension to be much higher than it will actually be. The earlier you start saving the easier your life in retirement will be.

{ "chart": { "height": 250 }, "xAxis": { "visible": true }, "yAxis": { "visible": true }, "plotOptions": { "series": { "marker": { "radius": 0, "states": { "hover": { "radius": 4 } } } } }, "tooltip": { "enabled": true, "shared": true } }
  •  EUR
  •  EUR
  •  EUR
  •  EUR
Calculation logic and yield assumptions

Pension Funds


{ "chart": { "height": 120, "marginTop": -20, "marginBottom": 20, "spacingBottom": 10 }, "legend": { "enabled": true }, "plotOptions": { "series": { "stacking": "percent" } } }

The fund is suitable for you if you want your pension money to follow the movement of global stock markets, your goal is higher asset growth over a longer time horizon (at least 10 years) and you are ready that the value of your assets may fluctuate more.

  • Index fund
  • Current annual fees: 0.29%
  • Risk level: 6/7

More about the fund


{ "chart": { "height": 120, "marginTop": -20, "marginBottom": 20, "spacingBottom": 10 }, "legend": { "enabled": true }, "plotOptions": { "series": { "stacking": "percent" } } }

The fund is suitable for you if you are aiming for higher growth in assets over a longer period (at least 10 years) and are prepared for greater volatility in the value of your savings.

  • Actively managed fund
  • Current annual fees: 1.15%
  • Risk level: 5/7

More about the fund


{ "chart": { "height": 120, "marginTop": -20, "marginBottom": 20, "spacingBottom": 10 }, "legend": { "enabled": true }, "plotOptions": { "series": { "stacking": "percent" } } }

The fund is suitable for you if your goal is stable growth of the money you are saving over a long period (at least 7 years).

  • Actively managed fund
  • Current annual fees: 1.05%
  • Risk level: 4/7

More about the fund


{ "chart": { "height": 120, "marginTop": -20, "marginBottom": 20, "spacingBottom": 10 }, "legend": { "enabled": true }, "plotOptions": { "series": { "stacking": "percent" } } }

The fund is suitable for you if your aim is to preserve the money you are saving along with a moderate rate of return (investment period should be at least 5 years).

  • Actively managed fund
  • Current annual fees: 0.95%
  • Risk level: 3/7

More about the fund

* Return of the pension fund on an annual basis as of 31.05.2024, source Pensionikeskus.

Note that risk and return are usually linked: higher risk also means a higher potential rate of return.

To find out which III pillar funds are best suited for you, fill in the eligibility questionnaire.

III pillar is your personal reserve, that you can collect with monthly or lump-sum payments.

In III pillar fund your money is invested. This will give you the opportunity to grow your money for your retirement.

Although III pillar is meant for your retirement, if necessary you can use the money you have saved before retirement as well.

If you have I and II pillar, you will receive pension that will amount to only about 40% of your monthly income before retirement. This means that if you were to retire tomorrow, your pension would be less than half of what your last monthly salary was.

However, in order to maintain your standard of living, it is recommended that the pension should be around 65-70% of your current income.

With III pillar, you can make your retirement much more enjoyable.

III pillar is the only option for long-term saving that is supported by the state with income tax credit. This means that you will get a refund of the income tax on your pension contributions to III pillar.

  • Income tax will be refunded on amount not exceeding 15% of your annual gross income or 6000 € per year.
  • Please note that if the income is below the basic exemption, you will not receive a tax refund on the contributions.

Calculate how big your contribution could be per calendar year, in order to maximise your tax refund.

You need a pension account to collect in the III pillar. If you have never saved in the III pillar before, you must first create a pension account. You can open an account in the Internet Bank and immediately choose which fund your payments will go to.

Open a pension account

Deposits can be made both as monthly fixed payments and as one-time payments, at the time and in the amount of your choosing.

We recommend monthly standing payments, because regular long-term collecting gives better results and this way you will not forget to make contributions.

To find out which III pillar funds are best suited for you, fill in the eligibility questionnaire.

If you need help choosing a fund and getting started, call 6 310 310 or book an appointment for pension advice.

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.

{ "xAxis": { "visible": "true", "categories": [ "Healthcare development", "Protect natural resources", "Improving quality of life", "New technologies", "Climate protection", "Digital Safety", "Biodiversity", "Gender equality, diversity & human rights" ], "labels": { "style": { "textOverflow": "none" } } }, "yAxis": { "visible": "true", "labels": { "format": "{value} €" }, "title": { "enabled": false } } }

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 want to use the money, you need to take into account the current tax situation and that payments are subject to the applicable income tax rate.

As you get closer to retirement age, you can withdraw your III pillar money at a more favourable rate of 10% or even 0% income tax. The tax credit depends on when you started collecting. Payments made at a lower tax rate are not counted as part of your annual income.

  • If you began saving before 28.12.2020,
    you can use the money from the age of 55 with a more favourable income tax rate, if you have been saving in III pillar for at least 5 years.
  • If you started saving 01.12.2021 or later,
    you may withdraw the money at a more favourable income tax rate 5 years before reaching retirement age, if you have been saving for at least 5 years.

There are two ways to withdraw your money:

  • Regular payouts, i.e., fund pension. If the payout period corresponds to your life expectancy, you can use the money at a 0% income tax rate. For a shorter period, the income tax is 10%. If you opt for regular payments, you need to have accumulated at least 5 years of contributions in the III pillar to qualify for the reduced tax rate. In the case of a shorter accumulation period, payments are subject to 20% income tax.
  • One-off payout, on the amount of which you have to pay 10% income tax.

In the case of no work ability, you can withdraw money tax-free.

If you take money out before you reach retirement age, you will have to pay income tax on it (currently 20%).

Income tax is deducted when the payment is made and the amount from which tax has already been deducted is credited to your account.

Note that III pillar disbursements are part of your annual income and may affect your tax-free income rate.

In the event of incapacity for work, you can withdraw the money before retirement age free of income tax.

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

It is up to your heirs to choose whether to withdraw the collected money all at once or to inherit the fund units.

If the collected money is withdrawn at once, income tax must be paid on it.

In the case of inheritance, the fund units received shall be transferred to the pension accounts of the heirs and a more favourable income tax rate (10% or 0%) can also be applied upon retirement.

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.

Ready to start saving in III pillar funds?

Find yourself a suitable fund with low fees. Free transactions with Swedbank funds. You can even invest one euro at a time. 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.
Swedbank logo

Internet Exploreriga ei saa internetipanka avada.

Palun kasuta Google Chrome’i, Mozilla Firefoxi või Microsoft Edge’i.

Alates 23. märtsist ei ole võimalik Internet Exploreri veebibrauseri kaudu Swedbanki internetipanka avada.

Internet Exploreri kaudu ei saa teha ega kinnitada Swedbanki makseid ka teistel veebilehtedel.

Soovitame kasutada Internet Exploreri asemel Google Chrome’i, Mozilla Firefoxi või Microsoft Edge’i uusimat versiooni. Nende seadistamise juhendid leiad siit.

С 23.03.2021 Интернет-банк Swedbank недоступен в браузере Internet Explorer.

С помощью Internet Explorer невозможно авторизоваться или осуществлять платежи через Swedbank на сторонних веб-страницах.

Вместо браузера Internet Explorer мы рекомендуем использовать браузеры Google Chrome, Mozilla Firefox или Microsoft Edge. Инструкции по установке упомянутых браузеров можно найти здесь.

From 23.03.2021 Swedbank Internet Bank and Banklink is no longer available using Internet Explorer browser.

It is not possible to authorize or make payments from Swedbank on other web pages using Internet Explorer.

Instead, we suggest using Google Chrome, Mozilla Firefox or the newest version of Microsoft Edge. To find out how to install the suggested browsers, please click here.

Klienditugi - Инфо и помощь - Customer service: +372 6 310 310

  • Teie operatsioonsüsteem ja veebilehitseja ei ole kaasaegne ega toetatud Swedbank internetipanga poolt. Palun uuendage oma operatsioonsüsteem ja veebilehitseja või pöörduge vastava IT tehnilise spetsialisti poole.
  • The operating system of your device & your browser are too outdated to be supported by Swedbank Internet Bank. Please, update the operating system & browser or turn to IT specialist for technical help.
  • Ваш браузер или операционная система недостаточно современны для использования в интернет банке Swedbank. Пожалуйста обновите операционную систему и браузер или обратитесь за технической помощью к ИТ специалисту.

You have been logged out from Internet bank

For extra security close the browser window. If you wish to continue using Internet bank, please log in again.