In February 2022, the Social Insurance Board will start making second-pillar pension payments to those who have a pension agreement through ERGO Life Insurance SE and SEB Life and Pension Baltic SE affiliates.

ERGO and SEB will make their last pension disbursements in January 2022. At the end of January, all pension agreements concluded with them will expire. From February, the Social Insurance Board will continue making pension disbursements.

• If your agreement with ERGO or SEB has not expired, pension payments will continue automatically. In that case, you won’t need to do anything to receive the payments.
• Although the entity making the pension payments will change, the amount of the pension will not.
• The lifelong pension will also continue to be income tax exempt.
• The Social Insurance Board has received from ERGO and SEB the data needed to make pension payments.
• The same applies in the case of beneficiaries who as of February are still entitled to receive such disbursements from ERGO and SEB.

The Social Insurance Board will start making pension payments once a month, on the 12th day of the month.

If to this point, you received pension payments four times a year, the Social Insurance Board will convert your pension to monthly payments. You will start receiving payouts every month.

If your last pension payment from ERGO or SEB was received in November or December, the Social Insurance Board will make a payment to you in February in the amount for three or two months, respectively. Starting in March, you will start receiving pension payments monthly.

Your pension agreement was signed with a guarantee period and this period has not yet expired

Earlier commitments to make a disbursement to the beneficiary in the event of the death of the policyholder during the guarantee period will remain in force.

If the pension recipient dies, the beneficiary is entitled to a lump sum disbursement. The total of pension payments up to the end of the guarantee period will be the amount payable.

Compensa Life Vienna Insurance Group SE continues making pension payments

If you have entered into a pension agreement with Compensa, nothing will change for you. Compensa will continue making pension payments. New pension agreements can likewise be concluded with Compensa.