fund manager
I follow the principle of Jack Bogle, the founder of Vanguard index funds: keep the investment in a low-cost fund and “don’t peek” – keep the end goal in sight and don’t spend time or money worrying about small fluctuations. I waited for a long time for someone to set up this kind of fund in Estonia. We finally had to take matters into our own hands.
Tõnu has been working in the investment field for over 20 years. Before founding Tuleva, he headed an investment company he part-owned, Karu Capital. Before that, Tõnu ran Eastern European financial sector development projects at the European Bank for Reconstruction and Development and worked as head of investment banking at Hansabank. He holds a master’s degree from London Business School-and a bachelor’s degree from the University of Tartu.
Yes, if you file your taxes in Estonia, you can open a pension account and contribute to third pillar. You can open the pension account on Tuleva website or in your internet bank.
You can claim tax benefit on third pillar contributions in two ways:
You can withdraw your funds from the 3rd pillar whenever you like. The withdrawals are taxed as follows:
More detailed info.
Riik on teinud III samba fondidele olulise maksusoodustuse – sissemaksetelt tagastatakse 20% tulumaks, mille saad soovi korral uuesti III sambasse suunata. Kui palud tööandjal enda eest otse palgast III sambasse makseid teha, siis sellelt summalt tulumaksu kinni ei peeta ning saad kohe selle võrra suurema summa fondi suunata. Sel juhul tulumaksu tagastust enam ei tule. Loe lähemalt.
Maksusoodustused on ka III sambast raha väljavõtmisel – juhul kui oled III samba fondis kogunud vähemalt 5 aastat, siis pärast 55-ndat eluaastat rakendub raha välja võtmisel soodusmäär 10% (tavalise 20% asemel).
Kui II sambasse koguvad kõik tööl käivad inimesed iga kuu 6% brutopalgast (2% panustatakse otse palgast ning 4% lisandub sotsiaalmaksust), siis III sambasse saab panustada oluliselt rohkem. Kuid siin tasub meeles pidada, et tulumaksutagastus rakendub summale, mis moodustab kuni 15% sinu kalendriaasta brutotulust (maksimaalselt 6000 eurot aastas).
III sambast saab raha igal ajal välja võtta. Väljavõtmisel tuleb tasuda tulumaks.
Esiteks, Tuleva pensionifondide valitseja kuulub inimestele, kes ka ise neis oma tuleviku jaoks raha koguvad. See tähendab, et omanike poolt on alati surve hoida kulud võimalikult madalal. Nii jääb meile, pensionikogujatele, rohkem raha pensioniks. Vanade fondivalitsejate eesmärgiks on teenida pensionikogujate pealt võimalikult palju valitsemistasu, sest nende omanikud – pangad, soovivad teenida võimalikult suurt kasumit.
Teiseks, nii nagu Tuleva II samba fondid, on ka meie III samba fond madalate kuludega indeksfond ning vastupidiselt enamikele III samba fondidele puudub Tuleva III samba fondis osakute väljalaske ja tagasivõtmistasu.
Teiste III samba fondide tasudega saad tutvuda siin.
Kolmandasse sambasse ei laeku raha automaatselt nagu teise sambasse. Peale III samba fondi valikuavalduse tegemist tuleb raha kandmine ise läbi oma internetipanga teostada – kas igakuiste maksetega või püsikorraldusega.
Selleks, et igakuine säästmine ära ei ununeks, oleks aga kõige parem teha oma tööandjale avaldus, et tööandja suunaks iga kuu kindla protsendi sinu palgast sinu poolt valitud III samba fondi. Sel juhul suureneb iga palgatõusuga automaatselt ka III sambasse laekuv summa. Avalduse näidis siin. Makse tegemise info siin.
Arvestama peab aga sellega, et kuigi III sambasse kantava raha suuruse saad ise määrata, siis 20% tulumaksutagastust III samba sissemaksetelt saad ainult sissemaksetelt, mis ei ületa 15% sinu aasta brutosissetulekust või 6000 eurot (olenevalt sellest, kumb on väiksem).
Yes. In addition to our own rules and procedures, there are three additional protectors of your assets in Tuleva pension funds:
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.
Please note that we use cookies on our website based on the legitimate interest of the Tuleva Fondid AS and Tuleva Commericial Association. Cookie is a small text file that is recorded into your computer or mobile hard drive when using our website. Cookies give us statistics that help us to analyse the use patterns of our website and help us to use this info in our marketing and communication. For example, the cookies allow us to record your computer`s IP address that allows us to show you our offers when you use Facebook or Google.
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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.