"The sharp decline in stock prices in China's market and turmoil in the European and global financial markets resulted in the value of a major part of of the 2nd pillar pension funds units to decrease in the third quarter. However, due to a particularly successful beginning of the year, the return on 2nd pillar pension funds over the nine months of this year is positive," says Audrius Šilgalis, Senior Specialist of the Financial Services and Markets Analysis Division of the Supervision Service at the Bank of Lithuania.
Over the nine months of 2015, sixteen out of twenty-four 2nd pillar pension funds operating in Lithuania earned positive return. The value of the investment units of the pension fund group investing in bonds (conservative investment) increased the most – by 0.90%. The growth in the small investment unit value of pension funds was lower — 0.77%, while the values of the units of other fund groups decreased – by 0.27%, and for equity pension funds – 0.39%.
As of 30 September 2015, 1.20 million participants accumulated their pensions in 2nd pillar pension funds.
The value of the 3rd pillar pension fund investment units over the period under review decreased on average by 0.58%, but their assets managed, as a result of increasing contributions to funds, grew by EUR 4.65 million – to EUR 52.16 million. At the end of the third quarter, twelve 3rd pillar pension funds, with 45.5 thousand participants accumulating their additional pension in them, operated in Lithuania. Over the nine months of this year, the return on five 3rd pillar pension funds was positive, while that of seven – negative.
