How to receive pension?

Upon retiring, you will be able to choose whether the accumulated capital of the 2nd pension pillar add to the accumulated pension capital of the 1st pension pillar, and to receive the two pensions together, or, by purchasing a life pension insurance policy, the pension capital accrued in the 2nd pension pillar to entrust to an insurance company, which will pay the accrued pension of the 2nd pension pillar each month.
Purchasing a life pension insurance policy from the insurance company will provide you with a certain amount of monthly pension until the end of your life. Purchasing the life pension insurance policy, you will be able to make a co-insurance, which means by conclusion of an agreement with the insurance company; you will be able to specify the beneficiary who, after the death of the 2nd pension pillar participant will be able to receive his accrued pension.

If a participant of the the 2nd pension pillar has died prior to requesting an old age pension, the pension capital and the accrued profit will be taken into account, calculating the survivor’s pension to family members who were supported by the dead participant of  the 2nd pension pillar. The 1st and the 2nd pension pillar capital cannot be inherited directly.