Relevant period: 1 – 50 years.
What it is necessary to do: in order to become a participant in the accumulation in the pension system, you must sign an agreement with the selected pillar II pension fund. It is very important that the amount accumulated by the pillar II pension fund depends on the amount of your salary. So, the higher your salary, the higher your premiums to the pension fund. Another important advantage is that the entire accumulated amount in the pension fund belongs only to you, which means that in case of death, it will be inherited by your legal heirs and the state will not have any rights to it. Another advantage is that pension funds are required by law to spread investments particularly widely, which results in less risk compared to conventional investment funds.
To learn more about pillar II accumulation, investment funds and amendments from 2019, full information you can find here www.invl.com