On changes to the Terms and Conditions of 3rd pension pillar plans from July 25th
As we review and update our range of services, we also update their terms and conditions. We would therefore like to inform you that, after consulting with the Financial and Capital Market Commission, we have made changes to the Terms and Conditions of the following pension plans: CBL Sabalansētais, CBL Aktīvais, and CBL Aktīvais USD.
The most significant changes
- We have improved our service so that we can be contacted through the Citadele online bank;
- We have clarified what participants should do if the employer who is making payments into their plan becomes insolvent and begins the bankruptcy process;
- To look after customers’ savings, we will continue investing the capital held in the pension plans of deceased customers until this capital has been disbursed in full;
- For customers’ convenience and security, payments into a pension plan can only be transferred from a Citadele account or other financial service provider.
The new Terms and Conditions will come into force on July 25th, 2022. You can read the full Terms and Conditions here: www.citadele.lv/en/private/3rd-pension/plans/
Reminder: to ensure steady payments into your 3rd pension pillar, set up a regular payment through the online bank for the most convenience.