SEB Pension Fund
SEB Pension Fund (AS "SEB atklātais pensiju fonds") is the Latvian pension management entity within SEB Group, providing mandatory 2nd pillar and voluntary 3rd pillar pension plans, Next Generation Pension, and Robo-Advisor investment services to Latvian retail and corporate customers.
- Company typePrivate
- Founded-
- HeadquartersCopenhagen, Denmark
- Headcount—
- GTM typeB2C
- OfferingServices
What SEB Pension Fund does
SEB Pension Fund (AS "SEB atklātais pensiju fonds") is the Latvian pension-management entity within SEB Group (Skandinaviska Enskilda Banken AB), the Swedish financial group founded in 1856. Within Latvia, SEB operates through a coordinated corporate structure including AS "SEB banka" for retail and corporate banking, SIA "SEB līzings" for leasing, IP AS "SEB Investment Management" for fund management, and SEB Life and Pension Baltic SE for life and pension insurance. The pension fund manages mandatory 2nd pillar plans (5% of gross salary, five age-segmented strategies including index, growth, balanced, conservative, and stable) and voluntary 3rd pillar plans with tax advantages; it cross-sells the Next Generation Pension insurance-based automated product, the Robo-Advisor investment service (minimum 10 euros, onboarded in 15 minutes), and a broad suite of investment funds (SEB Active 20/30/55/80, climate and equity funds).
The underlying technology platform is a digital-first banking stack: iOS/Android mobile applications, an internet bank, video consultation channels, biometric photo-and-video identity verification during onboarding, and a virtual-advisor chatbot. Business-side integrations are handled by SEB Baltic Gateway, an API-based connectivity layer supporting payment initiation, account information, e-invoice forwarding, and multi-bank aggregation. Cloud infrastructure is supported by AWS (load balancing and identity cookies) and marketing/CRM is built on Salesforce.
Revenue is generated through recurring management fees applied to assets under management across 2nd pillar pension plans, 3rd pillar voluntary plans, Next Generation Pension (fees decline as savings accumulate), and proprietary investment funds. Customer segments span Latvian retail (children 7-17, youth 18-25, general adult population) and business/corporate customers, with distribution through digital self-service, branch network, video consultations, and a data-exchange partnership with the Latvian State Social Insurance Agency for 2nd pillar communications. The platform is currently pursuing Baltic-wide operational consolidation following a merger approval announced on 2026-05-22.
SEB Pension Fund firmographics
Firmographics- Name
- SEB Pension Fund
- Legal name
- AS "SEB atklātais pensiju fonds" (SEB Open Pension Fund)
- Website
- https://seb.lv
- Company type
- Private
- Operating status
- Operating
- Short description
- SEB Pension Fund (AS "SEB atklātais pensiju fonds") is the Latvian pension management entity within SEB Group, providing mandatory 2nd pillar and voluntary 3rd pillar pension plans, Next Generation Pension, and Robo-Advisor investment services to Latvian retail and corporate customers.
- Ownership category
- akta.pro rank
SEB Pension Fund industry classification
Industry- Product category
- Pension Fund Management
- NAICS
- Pension Funds (525110), Portfolio Management and Investment Advice (52394)
- SIC
- Life Insurance (6311), Investment Advice (6282)
- akta.pro primary industry
- Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail) (FSAAAAAJ)
- akta.pro secondary industries
- Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB), Retirement & Pension Planning (401(k)/IRA) (FSAEAAAD)
Keywords
Where SEB Pension Fund is headquartered
LocationHeadquarters
- HQ city
- Copenhagen
- HQ country
- Denmark
- HQ region
- Europe
Offices1 record
Markets served
SEB Pension Fund business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Pension Fund Management (2nd Pillar): Mandatory pension savings managed on behalf of participants, with 5% of gross salary contributed monthly. Revenue generated through management fees applied to pension assets under management
- Voluntary Pension Savings (3rd Pillar): Voluntary pension contributions with tax benefits (up to 10% of gross salary recommended). Revenue from management fees on accumulated capital, withdrawals available from age 55
- Next Generation Pension: Insurance-based pension product provided by SEB Life and Pension Baltic SE with automatic age-based investment risk adjustment and management fees that decrease as savings accumulate
- Investment Fund Management: Management of various investment funds including equity funds, bond funds, and multi-asset funds. Revenue through included management fees in NAV calculations
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | SEB Index Plan 15-54 (2nd pillar) |
| Subscription | Monthly | SEB Growth Plan 15-54 (2nd pillar) |
| Subscription | Monthly | SEB Conservative Plan 60+ (2nd pillar) |
| Subscription | Monthly | SEB Balanced Plan 55-59 (2nd pillar) |
| Subscription | Monthly | SEB Stable Plan 60+ (2nd pillar) |
| Subscription | Monthly | Youth Plan (18-25) |
| Subscription | Monthly | Entrepreneur Service Plans |
Distribution channels4 records
Marketing channels5 records
SEB Pension Fund product offering
Product offeringCore offering
SEB Pension Fund (AS "SEB atklātais pensiju fonds") manages mandatory 2nd pillar pension savings plans funded by 5% of gross salary and voluntary 3rd pillar pension plans with tax advantages in Latvia. It offers multiple investment plans (Index, Growth, Balanced, Conservative, Stable) segmented by age group, and the Next Generation Pension product — an automated insurance-based savings solution provided via SEB Life and Pension Baltic SE that adjusts investment risk based on the customer's age and applies lower management fees as balances grow. Pension assets and contributions are accessible through SEB's internet bank, mobile application, branch network, and video consultation channels.
Product overview
SEB offers a comprehensive financial services platform through SEB bank in Latvia, with pension fund management as a key offering through SEB atklātais pensiju fonds (2nd pillar), SEB Life and Pension Baltic SE (3rd pillar and Next Generation Pension), and SEB Investment Management. The product portfolio includes core banking services (current accounts, payment cards, loans), digital banking channels (mobile app, internet bank, video consultation), investment products (Robo-Advisor, investment funds, micro-investments), and insurance offerings. The digital ecosystem is connected via SEB Baltic Gateway API for business accounting integration, with Open Banking support for third-party payment services. The Next Generation Pension represents an innovative automated pension savings solution, while Robo-Advisor provides accessible automated investing.
Differentiator
Problem solved
Functional benefit
Brands
- SEB indeksu plāns 15-54: Index pension plan for ages 15-54, a 2nd pillar pension investment plan
- SEB izaugsmes plāns 15-54
- SEB konservatīvais plāns 60+
- SEB līdzsvara plāns 55-59
- SEB stabilais plāns 60+
- Nākamās paaudzes pensija
- SEB-Klimata indeksu pensiju plāns 18-54
- SEB-Līdzsvara pensiju plāns 55-59
- SEB-Stabilais pensiju plāns 60+
- Roboinvestors
- SEB Active 20/30/55/80
Products and services
- 2nd Pension Pillar Plans Mandatory state-managed pension savings plans in Latvia, funded by 5% of gross salary via employer and employee social insurance contributions. SEB offers multiple investment plans (Index 15-54, Growth 15-54, Balanced 55-59, Conservative 60+, Stable 60+) tailored to the participant's age and risk profile. Revenue is earned through management fees applied to assets under management.
- 3rd Pension Pillar Plans Voluntary pension savings plans with personal income tax advantages for contributors. Recommended contribution level is up to 10% of gross salary, with flexible contribution amounts and schedules. Accumulated capital can be withdrawn from age 55. Plans include SEB-Klimata indeksu pensiju plāns 18-54, SEB-Līdzsvara pensiju plāns 55-59, and SEB-Stabilais pensiju plāns 60+.
- Next Generation Pension (Nākamās paaudzes pensija) Insurance-based automated pension savings product provided by SEB Life and Pension Baltic SE. Investment risk is automatically adjusted based on the customer's age, with simple setup and management fees that decrease as accumulated savings grow. Designed for customers who prefer a hands-off, automated retirement savings approach.
- Investment Funds Range of SEB-managed investment funds including equity funds (European, US, emerging markets), bond funds, global multi-asset funds, sector funds (AI, healthcare, climate), and SEB Active multi-asset funds with different equity allocations (20%, 30%, 55%, 80%). Revenue is generated through management fees included in NAV calculations.
- Robo-Advisor (Roboinvestors) Automated investment advisory service enabling customers to start investing in 15 minutes with a minimum investment of 10 euros and no previous investment experience required. Available through the SEB mobile app under the Investments section, providing personalized automated investment solutions.
- Life and Personal Insurance Insurance products offered through SEB Life and Pension Baltic SE, including term life insurance, loan payment insurance, instant trauma insurance, and customizable personal insurance plans for individual customers in Latvia.
Quantifiable outcome
- Next Generation Pension management fee decreases as savings accumulate (lower fee rate for higher balances)
- +1 more outcomes
Companies that use SEB Pension Fund
Customer profileSegments4 records
Ideal customer profiles4 records
SEB Pension Fund technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
AI capability6 records
Feature4 records
SEB Pension Fund partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- State Social Insurance Agency (Latvija)coreSEB Investment Management receives pension participant data from the State Social Insurance Agency for 2nd pillar pension plan management. The partnership involves data exchange to facilitate communications with pension plan participants about plan suitability by age and regulatory compliance.
- SEB Investment Management ABcoreFund management company providing investment fund data, NAV calculations, and performance reporting for SEB pension and investment products. Source of fund prices and historical performance data.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
SEB Pension Fund competitors and assessment
Company assessmentDirect peers
- Swedbank Latvia: Swedbank is the largest universal bank in the Baltics with the dominant retail deposit base in Latvia and a full suite of 2nd and 3rd pillar pension plans. It competes head-to-head with SEB Pension Fund for the same mandatory contribution pool and offers comparable internet bank and mobile app distribution channels.
- Luminor: Luminor is a major Baltic universal bank with significant retail presence in Latvia, Lithuania, and Estonia and pension/wealth products aimed at retail savers. It is a direct competitor for 2nd pillar mandatory contributions and 3rd pillar voluntary savings on a similar multi-country Baltic footprint.
- Citadele banka: Citadele is a Latvia-headquartered universal bank serving retail and SME customers with pension plans (2nd and 3rd pillar), investment funds, and digital banking. It is a directly competing pension fund manager for the same Latvian retail saver base that SEB targets.
- Indexo: Indexo is a Latvian-licensed pension and investment fund manager focused on 2nd and 3rd pillar pension plans with passive index-tracking strategies. It competes directly with SEB's Index Plan and other retail pension offerings, often positioning on lower fees and pure indexing.
Emerging players
- INVL (Invalda INVL): INVL is a Lithuanian asset and pension fund management group offering 2nd and 3rd pillar pension plans in Lithuania with growing Baltic reach. It is comparable as a focused regional pension and investment manager, though its primary market is Lithuania rather than Latvia.
Broad incumbents
- Nordea: Nordea is a major Nordic universal bank with pension and wealth products and historic presence across the Nordics and Baltics. It overlaps with SEB at the regional banking and pension layer but operates a much broader geographic and product portfolio rather than focusing on Baltic pensions.
- Danske Bank: Danske Bank is a large Nordic universal bank offering pension, investment, and wealth management products with operations across the Nordics and historically in the Baltics. It is comparable as a regional incumbent with overlapping pension capabilities, though its Baltic retail footprint is narrower than SEB's.
Others
- SEB Investment Management: SEB Investment Management is the sister entity that supplies NAV calculations, fund performance data, and investment vehicles underlying SEB Pension Fund's products. It is an internal enabler that any retail pension manager would need to either own or partner with for asset management infrastructure.
- BlackRock: BlackRock is the world's largest asset manager offering index and active funds used as underlying investments by pension plans globally. It is a thematic adjacent enabler rather than a direct competitor in retail pension plan distribution in Latvia, but its iShares products are potential underlying building blocks for pension funds like SEB's.
- Latvian State Social Insurance Agency (VSAA): VSAA is the Latvian state agency that administers 2nd pillar registrations and exchanges participant data with licensed pension managers including SEB. It is an institutional ecosystem partner rather than a competitor, but its policies and data flows shape pension provider economics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks1 record
Key highlights6 records
Customer concentration
SEB Pension Fund compliance and trust
Trust signalCompliance1 record
SEB Pension Fund financial estimates
Financial estimateRevenue estimate
Valuation estimate
SEB Pension Fund leadership team
Management profileNumber of profiles
SEB Pension Fund subsidiaries and ownership
Company hierarchySubsidiaries4 records
SEB Pension Fund funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
SEB Pension Fund M&A and investment
M&A and investmentM&A
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about SEB Pension Fund
What does SEB Pension Fund do?
SEB Pension Fund (AS "SEB atklātais pensiju fonds") manages mandatory 2nd pillar pension savings plans funded by 5% of gross salary and voluntary 3rd pillar pension plans with tax advantages in Latvia. It offers multiple investment plans (Index, Growth, Balanced, Conservative, Stable) segmented by age group, and the Next Generation Pension product — an automated insurance-based savings solution provided via SEB Life and Pension Baltic SE that adjusts investment risk based on the customer's age and applies lower management fees as balances grow. Pension assets and contributions are accessible through SEB's internet bank, mobile application, branch network, and video consultation channels.
Is SEB Pension Fund a public or private company?
SEB Pension Fund is a private company. It is classified as corporate owned and is currently operating.
When was SEB Pension Fund founded?
SEB Pension Fund was founded in -1.
Where is SEB Pension Fund based?
SEB Pension Fund is headquartered in Copenhagen, Denmark, in the Europe region.
How does SEB Pension Fund make money?
Four revenue lines are on record. Pension Fund Management (2nd Pillar) is the primary driver. The others are voluntary Pension Savings (3rd Pillar), next Generation Pension and investment Fund Management.
Who are SEB Pension Fund's main competitors?
Direct peers on record are Swedbank Latvia, Luminor, Citadele banka and Indexo. INVL (Invalda INVL) is listed as an emerging player. Broad incumbents are Nordea and Danske Bank. Others are SEB Investment Management, BlackRock and Latvian State Social Insurance Agency (VSAA).
Does SEB Pension Fund have an API?
No public API is recorded for SEB Pension Fund.
What industry is SEB Pension Fund in?
SEB Pension Fund's product category is Pension Fund Management. Its primary akta.pro industry code is FSAAAAAJ, Retirement & Pension Wealth (401(k)/IRA/SIPP/Superannuation Retail), with a secondary code of FSAAAGAB, Pension Master Trusts, Superannuation & Provident Funds. Its NAICS code is 525110 and its SIC code is 6311.