Pension app My Pension shows you the amount of the pension you will begin receiving in the future

7. june 2019

Every smartphone owner will now be able to install Estonia’s only pension app, My Pension, on their smartphones and receive the best overview of their collected assets and future pension amounts. Over the summer, users of the My Pension app will participate in draws for four iPhone XR smartphones.

LHV created an introductory pension app, in order to provide all pension savers with a clear and understandable overview of their collected assets and various pension funds. ‘There is a great deal of discussion regarding pensions and the pension system, but the actual level of awareness, even when it comes to information concerning one’s own pension, is rather low,’ said Joel Kukemelk, Member of the Management Board of LHV Varahaldus. ‘My Pension is an app that is intended for everyone who is the least bit interested in how big their wallet will be during their future pension. All of those with savings in the second or third pension pillar are invited to use the app. It isn’t important which management company your pension is currently being saved with, since the application uses data obtained from AS Pensionikeskus,’ noted Kukemelk.

All that is required in order to use the app is to download it to your smartphone and log in. You can also review your pension funds on LHV’s homepage, using the section ‘Pension’ or ‘My Pension’ and logging in with the aid of your ID-Card, mobile-ID or Smart-ID.

Using the My Pension app, anyone who is interested can forecast their pension payments from the first, second and third pillars, compare all second and third pillar funds operating in Estonia and administer the assets collected for one’s pension easily, clearly and conveniently. To increase the accuracy of the forecasts, it is possible to supplement the data concerning oneself in the section ‘My Data’, with consideration being given to, for example, the number of children or length of government service. There is plenty to study, since the final payment amounts may vary by several hundred euros, all depending on the accuracy of the data that is entered.

‘We have conveniently brought the monitoring and forecasting of assets intended for a person’s individual pension to their mobile telephone, along with all of the functionality required for submitting pension applications. Today, in Estonia, one is able to choose from 23 second pillar and 10 third pillar pension funds. When making their decision each pension saver could take a closer look at what is being offered on the market,’ said Joel Kukemelk.

The free mobile app My Pension can be found in the App Store and Google Play. Take a closer look

Draws for four iPhone XR smartphones will be held between everyone who downloads the app to their smart device. The draws will take place on 15 July and 15 August. In both instances, draws will take place for two telephones.

LHV Group is the largest domestic financial group and capital provider in Estonia. LHV Group's key subsidiaries are LHV Pank and LHV Varahaldus. LHV employs over 400 people. LHV’s banking services are used by 174,000 clients, and pension funds managed by LHV have more than 177,000 active clients.

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