Pension

Do I have to pay taxes on my 3rd pension pillar capital upon withdrawal?

Personal income tax will not be deducted from accumulated pension capital that is formed of your own contributions, but personal income tax will be deducted from your employer's contributions to your pension fund savings.

Your investment results at the time of disbursement — calculated as a result of how your pension plan assets were managed — will be subject to a 20% tax on capital gains. The tax will be withheld by CBL Atklātais pensiju fonds when the assets are disbursed.

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