Navigate to main page content

Third pillar

Start saving today!

The most useful way to save for the long term

  • Lowest fees in Estonia. This way you collect more money.
  • Transparent pricing. Our funds have no hidden fees.
  • Sustainability. We’ll make sure your money creates a cleaner future.
  • Income tax refund. You get a 20% tax refund on your contributions. For example, if you save 50 € a month, you get back 120 € a year.
Choose collecting pace that suits you You can contribute flexibly It is possible to withdraw the money at any time



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": { "areaspline": {"marker": { "enabled": false }} }, "tooltip": {"enabled": true, "shared": true} }
  •  EUR
  •  EUR
  •  EUR
  •  EUR

This a sample calculation, where the forecast return is based on the internationally used long-term historical annualized return on equity (7%); however, however this does not imply that similar returns can be achieved in the case of the III pillar. For example, the annualized return of the Swedbank pension fund V100, which invests 100% into equity, since the creation of the fund is 4,9% (30st of April 2020). Past return does not guarantee similar return in the future. The basis for the income tax refund is the income tax rate of 20%, which is valid in 2020, and the income tax refund only applies with regard to those contribution that you have made yourself, and which amount up to 15% of your gross income, but do not exceed 6,000 euros.

Pension Funds

{ "chart": { "height": 150 }, "legend": { "enabled": true }, "plotOptions": { "series": { "stacking": "percent" } } }
  • Actively managed fund
  • Current annual fees: 1.15%
  • Risk level: 5/7
  • Sustainable Finance Class: light green Among other goals, fund also follows environmental, social and governance (ESG) targets.

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.

More about the fund

{ "chart": { "height": 150 }, "legend": { "enabled": true }, "plotOptions": { "series": { "stacking": "percent" } } }
  • Actively managed fund
  • Current annual fees: 1.05%
  • Risk level: 4/7
  • Sustainable Finance Class: light green Among other goals, fund also follows environmental, social and governance (ESG) targets.

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).

More about the fund

{ "chart": { "height": 150 }, "legend": { "enabled": true }, "plotOptions": { "series": { "stacking": "percent" } } }
  • Actively managed fund
  • Current annual fees: 0.95%
  • Risk level: 3/7
  • Sustainable Finance Class: light green Among other goals, fund also follows environmental, social and governance (ESG) targets.

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).

More about the fund

{ "chart": { "height": 150 }, "legend": { "enabled": true }, "plotOptions": { "series": { "stacking": "percent" } } }

Pay attention, that this is new fund, which is why long term return could not be displayed yet.

  • Index fund
  • Current annual fees: 0.29%
  • Risk level: 6/7
  • Sustainable Finance Class: light green Among other goals, fund also follows environmental, social and governance (ESG) targets.

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.

More about the fund

* Return of the pension fund on an annual basis as of 30.09.2021, source Pensionikeskus.

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

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.

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.

Look how useful it is to save regularly

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.

By choosing Swedbank you make sure your money is invested into companies that care about fair wages, gender equality, climate change mitigation, responsible consumption and production. We believe that sustainable investments in pension funds are more resilient to the shocks such as financial crisis or pandemic.

  1. Follow your values by choosing a pension provider with sustainability ambitions. As of March 2021 Swedbank pension funds have invested:
    • 400 mEUR into green bonds or bonds screened under sustainability criteria;
    • 360 mEUR into other funds following ESG factors;
    • 570 mEUR into shares screened under sustainability criteria.
  2. Sustainable pension funds exclude damaging industries. Swedbank has a “blacklist” for companies in which we don’t invest. You can be sure that your money does not support weapons industry, coal mining or human rights violations.
  3. You can always check if your pension provider is paying attention to sustainable investments. Read about our Responsible Investment Policy here.

Investors are actively directing money to sustainable funds.

{ "xAxis": { "visible": true, "categories": ["2014", "2016", "2018", "2036"] }, "yAxis": { "visible": true, "title": "" }, "legend": { "enabled": true }, "plotOptions": { "column": { "stacking": "normal", "dataLabels": { "enabled": false } } } }

Source: International Institute for Sustainable Developments

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.

Click on different areas to find out the impact

Source: World Federation of Exchanges


  • Employee health & well-being
  • Human rights
  • Gender equality
  • Non-Discrimination
  • Fair pay


  • CO2 Emissions
  • Energy usage
  • Natural resource usage
  • Waste and pollution
  • Climate change mitigation


  • 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. As a bonus, out-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.

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.

Before retirement, money can be withdrawn at a reduced rate in the event of incapacity for work.

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.

Save your pension with the beneficial 2% + 4% scheme. Free transactions with Swedbank funds. You can even invest one euro at a time.
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 logged out of the Internet bank!

If you have any questions or suggestions, send a bank messages. We value your opinion!

To exit securely, please close all the browser windows!

Kind regards,