Pension Reform 2021
To withdraw all of the amassed funds at one time, an application for one-time disbursement must be submitted. To submit the application:
- contact the bank of your choice or
- go to the “My pension account” self-service section of the Pension Centre website.
Starting from the year 2021, lump sum disbursement in retirement age or with less than 5 years until retirement are subject to income tax. The tax rate in such a case is 10%.
Termination of payment duty
Contributions to the second pillar of the pension cease according to the time of submission of the application as follows:
Submission of application
- From 1 December to 31 March – the end of the commitment on the 31st of August;
- From 1 April to 31 July – the end of the commitment on the 31st of December;
- From 1 August to 30 November – end of commitment on the 30th of April.