Become a member.

"Tuleva is 2-in-1: Estonia’s most exciting social startup and a high impact civil initiative that defends people's interests."

Taavet Hinrikus, Co-founder, Tuleva and Transferwise

What do you gain by becoming a member of Tuleva?
  • Help create a smarter pension strategy for Estonia
  • As a co-owner, earn a bonus from Tuleva’s growth
  • Have a say in decision-making

Help make life better - for yourself and for Estonia

We all need pension one day. The earlier you start thinking about it, the better is your life in the future.

But pensions are dead borning and investments complicated.

Boredom and complexity have made up a shield under which Estonian banks’ pension funds have charged high fees but our money has grown very little. In 2016, Estonian banks’ pension funds were the worst among OECD countries.

Tuleva was started as a civic initiative and is of the most exciting social enterprises in Estonia today.

Jordan Valdma

Jordan Valdma

Developer, Member of Tuleva

Tuleva is not a typical service provider. Tuleva is co-owned by the pension savers themselves who decided to skip banks’ middlemen and start pension funds where they personally would like to put their money.

We deserve better

Tuleva was started as an initiative by 22 founders who decided that we deserve better. They started an association where every member has an equal decision right.

Krista Teearu

Krista Teearu

Entrepreneur, Member of Tuleva

We are stronger together

Over 7500 people have already joined the founders. We invite you to become a member as well. Together we create better possibilities to save money for our future.

Tanel Padar

Tanel Padar

Musician, Member of Tuleva

We earn money for ourselves, not for the banks

Alone it would not be possible for anybody. But together with the help of smarter technologies we can rid ourselves from costly middlemen and grow our, not banks’, money.

Kristi Saare

Kristi Saare

Teacher, investor, Member of Tuleva

A beginning has been made

As a first step, we started modern low cost II and III pillar pension funds. All Estonian people can now save for pension together with Tuleva founders and members.

Indrek Seppo

Indrek Seppo

Economist, Member of Tuleva

We have many more good ideas

In the future we will create other ways to increase our money through long-term savings.

Lili Milani

Lili Milani

Genealogist, Member of Tuleva

This is not all

As an association of pension savers Tuleva helps to make Estonian laws better so that pension system would be useful first of all to people not banks and insurance companies.

Fund managers are not allowed to charge high fees for changing the pension fund.
Partially done
Competition among the pension funds must be encouraged so that people would have more choice.
Peale have now full freedom to withdraw second pillar money in retirement: the law no longer obliges them to buy annuity from an insurance company.
In progress
Let’s open up the II pillar for voluntary contributions so that saving for retirement would be simpler and cheaper.
In progress
Let’s create a pensions dashboard for Estonian people similar to Sweden’s example that would give a clear overview of how our pension assets are doing.
In progress
Let’s have a possibility to ask independent advice and require fund managers’ salesmen to pass proper qualification exam.
Are we on the right track? Join us!
Become a member of Tuleva

Founding members

Become a member of Tuleva

You do not have to be a member of Tuleva to invest in Tuleva pension funds, but as a member you are the co-owner of Tuleva’s pension fund. You will earn a membership bonus every year to your pension account, help to change Estonian laws so that they benefit pension savers and you can decide over future developments in Tuleva: every member has one vote at the general meeting.

1Enter your details and send membership application

Tuleva member can be anybody of legal age who does not have current criminal record. What are my rights and obligations as a Tuleva member?

2Pay one-off joining fee 125 euros

This is the contribution of all Tuleva members to our joint enterprise.

3Choose Tuleva pension fund

If your II pillar is not already in Tuleva pension fund, you can comfortably do it here.

To become a member please log in to your pension account.

Become a member

Frequently asked questions

What is Tuleva?

Tuleva is a mutual asset management company with the goal to grow our members’ assets, creating better investment opportunities for ourselves to save money in small increments over the long term.

As a first step, we started Tuleva`s II pillar pension funds. Next, we will create for our members a voluntary pension fund and will look for other sustainable and beneficial opportunities to save and invest money for the long term. At the same time,  we help to change the laws so that the Estonian pension system as a whole becomes more profitable for people saving for their retirement not for banks or insurance companies.

Why has Tuleva decided to be a commercial association?

A commercial association is a business form like any other. The main difference between commercial associations and other forms of business is that in a commercial association every member has exactly one vote. In a public or private limited company the number of votes is dependent on the amount of shares you own.

In a commercial association no one has the option to buy up other people’s votes or gain control of the association in any other manner. Profit sharing is carried out based on how much a member contributes into the association, not on how many shares she owns.

The founders of Tuleva believed that this form of entrepreneurship best represents a company that unites thousands of people. We don’t have distant investors, but we are all managing our money together and we all have the right to speak up about how our assets are managed, no matter how big one’s income or how much money one has managed to save yet.

How is Tuleva structured?

The members of Tuleva Commercial Association are the owners. The members elect a supervisory board, which appoints the management board. Every Tuleva member has one vote at the association general meeting.

Tuleva pension funds are managed by Tuleva Funds, which is owned by Tuleva Commercial Association.

What is the membership bonus and how is it calculated?

If a member passes away, the membership capital will be paid out to their heirs.

What will happen to my money if I no longer wish to be a member?

If a member wishes to leave the association, then the membership bonus and capital will be paid out to them.

Why is Tuleva Fondid AS a seperate legal entity?

At this moment in time, Estonian laws do not allow commercial associations to manage investment funds (there is no real justification for this limit). Therefore we founded Tuleva Fondid AS, which is 100% owned by Tuleva Commercial Association. Based on Financial Inspection’s licence, Tuleva Fondid AS manages Tuleva World Stocks Pension Fund and Tuleva World Bonds Pension Fund.

If I have already transferred my pension to Tuleva pension funds, should I also become a member of Tuleva?

You do not have to be a member of Tuleva to invest in Tuleva pension funds, but as a member you gain maximum benefit from Tuleva. As a member you are not only the client of your own pension fund, but also a co-owner.

We, members of Tuleva:

  • Earn a membership bonus every year from the fund management fee, which earns us extra money for our retirement
  • Help to change Estonian laws and regulations so that they benefit pension savers, not only banks and insurance companies
  • Decide over future developments in Tuleva: every member has one vote

What are the rights and obligations of Tuleva members?

Every member has the right to:

  • Have access to important documentation pertaining to all activities of the association
  • Participate in the general assembly and other Tuleva events
  • Elect Tuleva management and apply for management positions
  • Participate in Tuleva’s profit sharing based on predetermined rules
  • Use Tuleva’s services and participate in members’ information sharing (for example via e-mail or in our closed Facebook group)
  • Leave the association (after 5 years of membership have passed)
  • Leave their assets as an inheritance to their designated heir

Every member has the obligation to:

  • Comply with laws and follow the decisions made by Tuleva’s managerial board
  • Pay a one-time membership fee
  • Keep Tuleva’s business secrets
  • Pay additional fees if decided so by the general assembly*

*This obligation has been included in our articles of association in the unlikely event that Tuleva has an unexpected need for additional capital. If a member refuses to pay additional fees which have been decided upon by the general assembly, they will lose their membership status.

All Tuleva members must pay a one time fee of 125 euros to join. What is this money used for?

Membership fees are used to develop our association and to stand up for the rights of our members. From the fees paid by our first members, we made the necessary expenses to raise the fund’s initial capital, introduce Tuleva to the general public and prepare everything to get our pension fund started, including applying for an activity license from the Financial Inspection. From here on, membership fees will be used for the following activities:

  • Membership community management and communication
  • Development of Tuleva’s web page, blog and other information channels
  • Preparation of ideas and influence analysis to improve the Estonian pension system in cooperation with the Ministry of Finance and other state organisations
  • Development of Tuleva’s IT systems
  • Preparation and analysis of voluntary savings products and third pillar options

I have a question