Lithuania pension reform: deadline for second-pillar fund withdrawals

September 30 marks the deadline for Lithuanian residents to submit requests to withdraw accumulated funds from the second pension pillar if they wish to receive the money by mid-October. Those who submit requests by this date should see funds in their accounts by October 15. The ability to withdraw from the second pillar remains available through December 31, 2027, during a two-year transitional period.

Participants who withdraw will receive their own contributions and the investment results. However, state incentives and Sodra contributions will not be returned to the individual; instead, they will be transferred to Sodra as pension accounting units.

The Ministry of Social Security and Labour (SADM) warns that these withdrawn funds are counted as income and assets. This change in financial status may temporarily affect the amount of social assistance, housing heating and water compensations, or other social benefits for up to three months. Exceptions to this rule apply in cases of palliative care or specific serious illnesses listed by the Ministry of Health and the Ministry of Social Security and Labour.