2016-01-18
2nd pillar pension funds end year successfully: performance of all funds — positive
2nd pillar pension funds operating in Lithuania recorded positive returns in 2015, while the average change in the value of an investment unit was 3.61 per cent. During the year, the net assets of 2nd pillar pension funds increased by 13.5 per cent in value, to amount to EUR 2.12 billion at the end of the year.
‘Despite particularly significant fluctuations in global financial markets last year, the strong performance in the last quarter led to all 2nd pillar pension funds operating in the country earning positive returns in 2015,’ says Audrius Šilgalis, Chief Specialist of the Financial Services and Markets Analysis Division of the Bank of Lithuania.
The value of net assets is provided without taking into account benefits paid out to participants who have left the pension accumulation system
In 2015, the investment units of the conservative investment pension funds group grew by an average 1.24 per cent in value, small equity share funds group — 3.08 per cent, medium equity share funds group — 3.63 per cent, and the group of investment funds investing in equity — 6.64 per cent.
Last year, the increase in the net assets of 2nd pillar pension funds totalled EUR 251.98 million, i.e. 13.5 per cent. This increase was driven by both new contributions and the successful investing activities of the funds.
In 2015, Sodra transferred to pension funds EUR 137.44 million; another EUR 31.08 million was transferred by the participants themselves, while the amount of additional contributions financed from the state budget totalled EUR 37.01 million. The investing activities of 2nd pillar pension funds led to the assets of participants rising by EUR 46.46 million.
As of 31 December 2015, twenty one 2nd pillar pension funds operated in Lithuania, with 1.21 million participants accumulating their pension in them.
In 2015, the investments units of 3rd pillar pension funds rose by an average 3.62 per cent in value, the net assets managed by them — by 29.3 per cent in value (to EUR 61.45 million). At the end of last year, twelve 3rd pillar pension funds operated in Lithuania, with 47.3 thousand participants accumulating their supplementary pension in them.
Full data of the performance of 2nd and 3rd pillar pension funds is published on the website of the Bank of Lithuania.