Translated using Hugo.lv
Selecting a member of the Tier 2 pension for a succession of accrued capital
Selected Organization: Valsts sociālās apdrošināšanas aģentūra
Brief description:
As from 1 January 2020, a member of the Pension Level 2 who has not yet claimed an old-age pension has the right to choose how the accumulated funded pension capital will be used in case he dies before the old-age pension is awarded.

A member of the Tier 2 pension may wish the accrued capital by selecting one of the three options:
• crediting the State pension to the special budget;
• add designated persons to the capital of the occupational pension;
• leave in succession in accordance with the procedures specified by the Civil Law.

Upon receipt of the submission of a person, the State Social Insurance Agency (National Social Insurance Agency) shall ensure the registration of the choice in the social insurance information system and the sending of the notification regarding the choice made to the official electronic address of the person or to the portal www.latvija.lv.

A Level 2 Participant may change the selection on an unlimited number of times by submitting a new application to the SAA.
Beneficiaries:
Individual
A member of the State funded pension scheme.
Maximum period (in working days):
3
Period:
Registration of selection in the Social Insurance Information System shall be ensured by the SSIA within three working days.
Process description
Documents and forms
Other information
Redress options
The actual conduct of the SSIA may be contested within one month after the date of receipt of the notification regarding the use of capital accumulated in the State funded pension scheme, by submitting a submission to the Director of the SAA.
Reminder
If no choice has been made or the funded capital of the deceased will not reach 35% of the State social security allowance, the capital will be transferred to the special budget of the State pension. If the person whose funded capital must add the deceased capital is not a member of the Tier 2 pension, then the capital will be inherited.
Warning
The right to wish the accrued funded pension capital shall be exercised by members of Tier 2 of pensions who have not requested and who have not been granted a State old-age pension (including early).
If a member of the Tier 2 pension has changed its choice, the SAA will take into account the last choice.
Laws and regulations
Valsts fondēto pensiju likums
(Saeima; likumi; 7/1/2001)
Noteikumi par valsts fondētās pensijas kapitāla izmantošanu
(Ministru kabinets; noteikumi; 365; 1/1/2020)
Service references
Valsts sociālās apdrošināšanas aģentūra
Contact details: Adrese: Lāčplēša iela 70 a, Rīga, LV-1011
Tālrunis: 64507020
E-pasts: pasts@vsaa.gov.lv
Information about service restored: 22.04.2022