A variety of pension saving strategies are currently used around the world. Often, pension fund participants simply select a fund based on their preferred level of risk (high equity exposure, medium equity exposure, low equity exposure or conservative) and never change that decision. But research shows that type of saving strategy over the long term reduces a person’s chances of accumulating a larger amount of money for retirement and increases the risk that, as retirement age nears, the value of the capital they’ve accumulated could drop significantly due to financial market volatility.

That’s why many scholars and practitioners stress the necessity of establishing life-cycle pension funds, where the riskiness of the investment strategy changes automatically in light of participants’ age.

Pension funds, which have operated in Lithuania since 2004, have until now been managed on the basis of a static investment strategy, with some investing in shares, others in bonds, and still others in both asset classes. As of 2019, though, when the latest pension fund reform took effect, 2nd pillar funds operate on a life-cycle basis and their participants no longer have to worry about changing the investment strategy.

That means the younger funds’ participants are, the more their investments are directed to equity – which make it possible to earn the most over the long term even though their value fluctuates the most – and the older they are, the more their investments go to less risky bonds, which enable the protection of assets that have been accumulated. The funds will change their investment proportions automatically, in keeping with participants’ age.

INVL Asset Management established the new life-cycle pension funds on 17 December 2018. The company offers accumulation in these funds starting 2 January 2019. It has transferred clients who were accumulating in the 2nd pillar to the new funds as of 1 February 2019 based on their date of birth. Those who wish to change the pension fund assigned to them on the basis of age will be able to do so by submitting a request to the pension accumulation company.

Learn more about life-cycle funds here.

Meanwhile, 3rd pillar pension funds will continue to operate on the basis of a static investment strategy.

When choosing pension funds, we recommend that they correspond to your age.

Read more about 2nd pillar pension funds here.

Read more about 3rd pillar pension funds here.


We’ve been managing pension funds ever since the first ones were established in Lithuania in 2004. The experience we’ve built up in the process allows us to offer clients a professional approach. We’re convinced that what’s made the expansion of our pension fund activity so successful is above all the attention we give to the needs of each client, along with these strengths:

  • Age-based asset management: We seek to offer the most suitable pension fund by adhering to the life-cycle pension fund concept, dividing up investment risk across the different stages of life.
  • Constant analysis: In an effort to ensure the best risk-return ratio, we constantly analyse changing market conditions and the potential of the most attractive investments.
  • Attention to the clients: Our clients get e-mailed statements regarding the assets accumulated in their pension accounts four times a year, and they can review that information on the INVL self-service portal whenever it’s convenient for them.
  • Exceptional long-term results: For the most recent 5 year period, INVL’s pension funds were the best performers in most pension fund categories in terms of the average annual return they earned, excluding life-cycle funds (as per the pension fund results reported by the Bank of Lithuania for the end of 2018).

We invite you to save for retirement in INVL's 2nd and 3rd pillar pension funds.

More information

If you have questions or want to know more about pension funds, call us at +370 700 55959 or write to us at

You can enter a pension accumulation agreement electronically with a qualified mobile signature.

More information about the investing strategies of INVL pension funds is provided in the pension funds’ rules.

Here you can fund reports and reviews.

Useful information and links:

We remind you that for 2nd pillar pension accumulation participants, the state social insurance old-age pension for the period prior to 31 December 2018 is proportionately reduced as established by law, except for persons participating in pension accumulation prior to 31 December 2018 who between 1 January 2019 and 30 June 2019 exercise the right to terminate pension accumulation and return the accumulated money to SODRA – reduction of the state social insurance age-old pension will not apply to such persons. The SODRA pension will not be reduced for those participating in 2nd pillar pension accumulation as of 2019. The old-age pension is not reduced with regard to the state’s added contribution. A 2nd pillar pension accumulation agreement cannot be terminated except in the case of a first-time agreement, which the participant has the right to terminate unilaterally within 30 calendar days of entering the agreement by informing the pension accumulation company about that in writing. Persons who became participants prior to 31 December 2018 shall have the right from 1 January 2019 to 30 June 2019 to terminate participation in pension accumulation or halt the transfer of pension contributions to a pension fund.

Accumulating in pension funds entails assuming investment risk. The pension accumulation company does not guarantee the profitability of pension funds. The value of a pension fund unit can both rise and fall. You may recover less than you invested. A pension fund’s past investment management results do not guarantee the same kind of results and return in the future. The results of a previous period are not a reliable indicator of future results.

Responsible and thorough consideration is called for when choosing a pension fund. You should examine the investment-related risks as well as the applicable deductions, and carefully read the pension fund rules which are an integral part of the pension accumulation agreement.

If the money accumulated in a pension fund exceeds a certain amount, it must be used to purchase a pension annuity – a contract to receive periodic pension payments as long as you live. A pension annuity is mandatory when the basic pension annuity size calculated for a pension fund participant is at least half the size of the state social insurance basic pension (currently 164.59 euros, half of which is 82.3 euros). Pension annuity payments will be made to you by the life insurance company with whom you conclude an annuity contract. Your accumulated amount will be transferred to the account of that company, which in turn will commit to make annuity payments of an agreed size for the rest of your life. Whether any amount that has not yet been distributed at your death can be inherited depends on the type of annuity you choose. You can learn more about pension annuities here.

All the information presented is of a promotional nature and cannot be construed as a recommendation, offer or invitation to accumulate savings in pension funds managed by INVL Asset Management. The information provided here cannot be the basis for any subsequently concluded agreement. Although this information of a promotional nature is based on sources which are considered to be reliable, INVL Asset Management is not responsible for inaccuracies or changes in the information, or for losses that may arise when investments are based on this information.