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DNB pension plans are the most rapidly expanding pension plans in Latvia, and they have set a new record of exceeding LVL 100 million in assets. Of this sum, LVL 85 million represent second-level pension contributions from the state, while the remaining LVL 15 million have been earned by DNB on behalf of its clients.
The result was achieved because DNB Asset Management, which is a DNB banka subsidiary and is a stock company to manage investments, has been managing the resources in a cautious and carefully considered manner.
DNB plans were most successful last year, and statistics about client numbers at DNB Asset Management at the beginning of this year are very delightful – nearly 5,000 new participants signed up in less than three months, raising the total number of pension plan clients at DNB to 94,535.
DNB’s Conservative investment pension plan earned 10.32% last year, the Balanced investment plan earned 10.04%, and the Active investment plan earned 9.64%. In all cases, these were the best indicators among all pension plans in Latvia.
“We thank all of the people who have entrusted their pension plan management to us, and we will continue to emphasise increased value for pension plans in the near term,” promises DNB Asset Management board chairman Armands Ločmelis. “The essential thing is that we invest in Latvian government obligations, thus not only earning good profits for the clients of our pension plans, but also facilitating the country’s development and financial stability. There is also the fact that our approach and philosophy toward investments are strictly responsible in social terms. These principles mean that we do not invest in risky areas such as tobacco or weapons manufacturing, gambling businesses, or companies which pollute the environment, are corrupt, or violate human rights.”
Ločmelis also reminds us that for many people in Latvia, the second-level pension plan is their only form of savings, thus calling on people to focus attention on how much capital has been accumulated and how well it is being managed.
Only those who think in a timely way about their old age will be able to afford high-quality health care, travel and a life without excessive concerns. DNB offers savings programmes which allow each person to find the best way of taking care of his or her security and ensuring that the existing standard of living will be maintained after retirement.