You can make contributions one by one or set up a standing order. You can make contributions in our web app. Log in by clicking here:
Fund units appear on your pension account by the end of the next working day. If you transferred money over the weekend, you will see new units on your pension account by Tuesday evening.
If you want to make a one time contribution to another person’s III pillar in Tuleva fund, use these payment details in your internet bank:
As contributions to the third pillar are not automatically deducted from your wages or social tax as in the second pillar, you make these contributions yourself, and they will be credited to the fund as soon as you have made the payment (or set up a standing order). To make a contribution log in here.
You can save any amount in the third pillar, there is no minimum. Here are some important things to keep in mind:
1. The optimal and maximum amount you should save in the third pillar is 15% of your annual gross income, but not more than 6,000 euros. This gives the biggest tax gain. Our calculator will help you make the calculation, and you can find more detailed explanations from investor Kristi Saare here.
The state is giving a great tax incentive to savers in the third pillar – next spring, you will get a tax refund on the amount contributed this year. Before looking for other investments, it is definitely worth making the most of the tax benefits of the third pillar every year. However, there is no point in investing more money in the third pillar than the tax-free limit. Read more about how the tax incentive for pension pillars will benefit you.
2. Don’t worry if you can’t save 15% of your gross income. For the beginning, set aside an amount that does not require you to sacrifice too much today. Start with as little as 25 euros a month and see if you can increase that amount next year.
3. The third pillar is an excellent tool for saving with a longer time horizon. As with any investments, don’t invest the money you need in the near future.
You can find your recurring payment in your internet bank.
In Swedbank you can see recurring payment by selecting Pension -> III pillar -> Selecting a Fund -> Actions -> Pension III pillar regular payments.
By selecting Transactions -> Standing payment orders. In the list, you will find a standing order with AS Pensionikeskus as the beneficiary.
You can find the recurring payment made by selecting Everyday Banking -> Standing Orders from the menu. In the list, you will find a standing order with AS Pensionikeskus as the payee.
In Luminor bank you can find the recurring payment by clicking here.
You can find recurring payment made in your Luminor bank by selecting Autopilot -> Standing orders from the menu. In the list, you will find a standing order with AS Pensionikeskus as the payee.
To change the terms of recurring payment, go to your internet bank, where payments are made and you can make the changes you want.
In Swedbank you can see recurring payment by selecting Pension -> III pillar -> Selecting a Fund -> Actions -> Pension III pillar regular payments. You can see the name of the fund, where regular payments are directed and by clicking on this the recurring payment opens. Terms of this recurring payments can’t be made, but you can cancel the contract and start a new one.
By selecting Transactions -> Standing payment orders. In the list, you will find a standing order with AS Pensionikeskus as the beneficiary. You can change the data on the given standing order or, if you wish, delete the order.
You can find the recurring payment made by selecting Everyday Banking -> Standing Orders from the menu. In the list, you will find a standing order with AS Pensionikeskus as the payee. You can change the terms of the standing order or, if you wish, cancel the standing order.
In Luminor bank you can find the recurring payment by clicking here.
You can find recurring payment made in your Luminor bank by selecting Autopilot -> Standing orders from the menu. In the list, you will find a standing order with AS Pensionikeskus as the payee. There you can change the data or finish the standing order.
Yes, you can. You can find instructions here. But keep in mind that income tax is calculated for the pension account holder.
The world's leading analysts have determined that fees are the surest predictor of returns: the lower the fees, the better prospects for growth. (And higher fees correlate with poorer results.)
Expected returns depend greatly on the evolving rate of return, and neither we nor anyone else are able to guarantee a 5% annual return.
In a low-cost index fund your assets grow hand-in-hand with the average returns of world markets. Low-cost index funds have outperformed Estonian pension funds every year to date, but past performance is no guarantee of future performance.
Funds' average annual return before management fees
Average annual salary growth
Minimum eligible age
issued a licence to Tuleva fund manager and controls that our everyday operations comply with regulations.
is Tuleva pension funds’ depositary bank. Depositary bank approves every transaction with fund’s assets. Exactly like with bank’s own funds.
protects all pension fund investors against the worst in case fund manager causes harm to investors.
Membership fees are used to develop the Association and to represent the interests of members. The fees of our first members were used to raise the fund’s initial capital, introduce Tuleva to the general public, and make preparations to start the fund, including application for an activity license from the Financial Inspectorate. From this point forward, membership fees will be used for the following activities:
Every euro saved gives a Swede almost a third higher pension than the same amount saved by Estonians. Estonia needs a smarter and measurable pension strategy.
As the first and only association representing pension savers, Tuleva is a credible partner for Ministry of Finance and state legislative bodies. We participate in pension strategy discussions, where next to the officials only banks and insurance companies used to be represented.
We help to make better laws. The laws that protect the people. The laws that maximize our profits from our, not banks’ savings.
We have our first achievements. For example
We do not organise demonstrations or spread random complaints. We are direct, we analyse issues and offer constructive solutions.
Tuleva’s main principle is that people themselves save money for their future, using contemporary technologies and bypassing unnecessary middlemen and costs as much as possible.
Every year, each member who has transferred their second or third pillar to Tuleva pension funds, earns a member bonus. Member bonus is very small at first, but it will grow together with member’s pension assets. Bonus is transferred to your personal capital account at Tuleva. This is your ownership stake in Tuleva capital and this stake can earn you additional profit.
When Tuleva grows, our funds under management grow and we add new products to our offering, then the association will earn profit. The profit is then divided among members, as set in our Articles of Association.
As always with profit from entrepreneurship – this depends how well our venture is doing. The founders are convinced, that the 125-euro joining fee pays for itself many times over. But we do not give promises.
At the end of each year
Every member has a vote on annual general meeting and has a right to elect and be elected to Tuleva’s board of directors and other supervisory bodies. This is the official part and it is very important.
Every day we share our ideas and experience among Tuleva members in our Facebook group, e-mail, phone and working groups. Among our community, there are people who care about the society and have very different skills. Many are ready to take responsibility for ensuring us a better future.
Tuleva team listens very carefully to our members and uses their ideas for making Tuleva better. We are only starting and believe that the power of thousands of smart people can be used for increasing our common good.
Tax benefit is simple: the government pays you back the income tax on your third pillar contributions. Tax benefit applies to contributions that do not exceed 15% of your gross income or 6000 euros, whichever is smaller.
Your maximum contribution amount to third pillar is thus 15% x gross annual income. If your annual income is over 3333 euros per month (gross), then you can contribute to third pillar 6000 euros.
Tax benefit equals 20% x your third pillar contributions.
NB! Your tax benefit cannot be bigger than the income tax you have paid during the year. Thus: if your gross income is less than 614 euros a month, then your maximum contribution is less than 15% of your income. More precisely – your maximum contribution per month is then: gross monthly income x 0.964 – 500.
With less than 519 euro monthly income you are not paying income tax most likely and hence you do not have any tax benefit in contributing to third pillar.
If you know that income is still coming to your account this year, add it yourself.
Please note that all income that reaches your account this year will be included in the calculation for 2021 (if the December salary is received in January, it will be included in the next year’s income calculation).
You can also add income that you plan to declare in the income tax return this year: rental income, interest paid by crowdfunding portals, income from the transfer of securities or other property.
Don’t worry if you don’t know the exact amount of your annual gross income today. Calculate the approximate amount and then find the optimal third pillar money placement with the calculator. If the actual annual income turns out to be higher than expected, your contribution will simply be slightly below the income tax allowance limit. Nothing terrible will happen even if you put a little more than the tax credit limit in the third pillar. The law does not prohibit it – if you exceed the limit, you simply cannot get the income tax back.