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What information is in a pension account?

Several queries can be performed in order to obtain an overview of your pension account status: statement of holdings on the status of the pension account, a statement on all transactions, a summarized statement on the growth or decrease of the pension assets, view receipts from the Tax Board and income tax notice if units of pension funds received as inheritance have been redeemed.

All the listed activities can be performed through the My Account page.

The statement of holdings of the pension account reflects the status of the pension account on the selected date. The notice features:

  • names of the pension funds the units of which the person owns or has owned,
  • net asset value of the pension fund unit on the selected date,
  • number of units of the pension fund belonging to the person,
  • total monetary value of the units,
  • total monetary value of the pension account,
  • total monetary value of the pension account at the national pension rate.

NB! If you are viewing your statement of holdings as on the current day, you must take into account the fact that the balance of the pension account may change during the day.

The statement of the pension account can be viewed for a selected period.The statement features separate sub-sections for transactions with the units of the pension fund and receipts from the Tax Board.

The statement of the pension account features first transactions with the units of the pension fund:

  • pension fund with the units of which transactions have been performed on the pension account,
  • initial balance – the number of units at the beginning of the statement period,
  • date on which the new units were transferred to the pension account,
  • price at which the new units were issued,
  • number of units issued or redeemed on the transaction date,
  • final balance – the balance of the units in the pension fund on the end date of the statement,
  • credit and debit turnover of the period – the sum of the transactions performed with the units during the selected period.

Financial Transactions

  • Initial balance – sum of money on the account at the beginning of the statement period,
  • Date when the new sum of money was received to the pension account,
  • Funded pension contribution received to the pension account from the Tax Board,
  • Money from the investor to the fund – the number and sum of fund units issued to the person,
  • Final balance – sum of money on the account at the end of the statement period,
  • Credit and debit turnover of the period – the sum of the transactions performed with the units during the selected period.

NB! If you are viewing your statement of holdings as on the current day, you must take into account the fact that the balance of the pension account may change during the day.

The summarised statement shows:

  • how many contributions have been made to the account in total and
  • what is the current value of the units of the pension fund on the account.

The summarised statement shows if the assets on the pension account have grown or decreased.

Example: Receipts: Total funded pension contributions received from the employer(s).
Received as inheritance: the total value of the inherited units as on the date of transfer, if the pension fund units received as inheritance have been transferred to the pension account of the successor.
Redeemed: the total sum of the payments made from the pension funds.
Current balance (in redemption price): the current value of the units of the pension fund on the pension account, from which the redemption fee has been deducted.

The query on the receipts from the Tax Board gives a detailed overview of which employer has paid and declared funded pension contributions in the name of the person.

The amount of the summarised receipt and its composition is shown for the received contributions.

The amount of the 2% calculated from the gross salary and the added 4% (6%), which is taken from the social tax, in the summarised receipt is set out separately. NB! The calculation of the 4% is still based on the gross salary.

The 1% additional contributions have been received by the persons to whom parental benefit has been paid according to the Parental Benefit Act.

If during a year, a person has redeemed units of pension funds received as inheritance, income tax was withheld from the redemption sum transferred to the bank account. The withheld income tax was sent immediately to the Tax Board together with the tax declaration.

If necessary, a certificate on the withheld income tax can be printed out. The certificate is issued in PDF format for one calendar year. The format of the certificate is established by the Tax Board.

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