Survey: More than 43 Percent of Residents Intend to Withdraw From the Second Pension Pillar

Lietuvos Radijas ir Televizija

Center

Factuality

Ownership

43.3 percent of Lithuanian residents plan to withdraw from the second pension pillar, according to the latest survey commissioned by Citadele Bank.

vz.lt

Factuality

Ownership

Companies managing second-tier pension funds say that residents have been actively submitting requests to suspend or completely terminate their savings and withdraw funds since the beginning of the year. Almost all companies said they could not publish specific numbers, but Allianz Lietuva reported that over 15,000 clients have requested to terminate their participation in its funds since the beginning of the year.

https://www.tv3.lt

Factuality

Ownership

The debate on the accumulation of pillar II pensions in Lithuania will certainly not subside for some time. While some are happy about the opportunity to get their money back and the freedom to decide how to use it, others find it too risky a step that could worsen the quality of life in old age. But what does the withdrawal of people from the pillar II pensions really mean for the future of this system and the population itself? About this in …