After the liberalization of the second-level pension savings system in Lithuania this year, during the first phase – from January to March – about 40% of participants in the system – approximately 580,000 people – exited the savings and withdrew all or part of their funds.
Citizens of Lithuania have received approximately 3.2 billion euros from their future pensions, reported the Lithuanian Association of Investment and Pension Funds (LAIPF).
On average, one person received about 5,600 euros, of which 2,700 euros are their own contributions, and 2,900 euros are income generated by the funds, according to the report.
According to the report, 875,000 citizens of Lithuania continue to save in the system, and the amount accumulated in pension funds reaches approximately 6.2 billion euros.
It is predicted that by 2026, about 20-40% of participants in the second-level pension savings will withdraw funds from their pension accounts, receiving about 1.2 billion euros in additional funds.
For reference: Starting from April 2026, changes came into effect in Lithuania that allow residents to exit the second-level pension savings system early and withdraw the accumulated funds – personal contributions along with investment income.
The new rule is in effect for a limited period – in 2026, residents have two years to make a decision to exit without tax losses.
Applications are reviewed quarterly. After approval, the money is transferred to a bank account within the first 10 working days of the following quarter.
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