According to the Bank of Lithuania, the number of the second pillar pension fund members increased by nearly 40,000 or by 3.6% in a year. A total of 1,156,600 people accumulated pensions in the second pillar pension funds by the end of 2014.
"In recent years the number of the second pillar pension fund members has been increasing consistently, essentially because of young people who entered the labour market and decided to accumulate pensions in private funds," says Audrius Silgalis, Senior Specialist of Financial Services and Markets Analysis Division of the Bank of Lithuania.
Assets under management of the second pillar pension funds grew by 18.45% in a year and reached EUR 1.87 billion. The average return was 7.8%.
The number of people accumulating pensions voluntarily, e.g. in the third pillar pension funds, increased in 2014 by 16.6% to 39,933. Their assets increased by 26.05% to EUR 47.58 million, the average return was 7.3%.
