Questions and answers


What is INDEXO?

INDEXO is a financial services group striving for a better financial environment in Latvia.


The INDEXO group includes the fastest-growing pension manager in the Baltics by the number of clients, listed on the Nasdaq Riga stock exchange with nearly 6000 shareholders, and INDEXO Bank, which plans to start operations this summer.

Why was INDEXO founded?

We need a strong 2nd pension pillar in Latvia. The demographic situation clearly shows that with the 1st pension pillar quality ageing is not guaranteed.


Before INDEXO appeared on the market, we in Latvia paid the highest pension management commissions in developed countries, however, the result we got was weak – the average return since the system started was lower than inflation. Then more than 30 well-known entrepreneurs and managers in Latvia united in the INDEXO project to change this situation. And the market began to change.


INDEXO has won many positive changes in the pension administration market (for example, price competition, 2nd level inheritance, from which not only INDEXO’s clients, but the whole society benefit. Now we are working to do this in the banking sector and we are working to establish a new, strong, modern, and customer-friendly bank.

What makes INDEXO different from other asset managers?

Transparency in costs, confidence in choices, direct language – that’s who we are.


Our main principles:


Low commissions, because we believe that the manager’s profit should not be disproportionately high compared to the value offered to the client.


Transparency in costs and performance of pension plans.


Our implemented index approach in the Latvian pension system shows the best long-term results in the industry.


We are a local company that fights for positive changes that benefit every resident of Latvia.

My 2nd pension pillar plan commission is 0.12 % - isn't INDEXO more expensive?

The 0.12 % commission that people see on their account statement is VSAA’s administrative cost. They are collected from each contribution, not from the total amount of assets.


The cost of managing the investment plan comes “on top” of these costs.


To find out the costs of managing your pension plan, go to the link and find your plan in the “Basic information for participants of investment plans” section.

What returns are planned for INDEXO pension plans?

No one can predict market movements, so asset managers can not promise specific returns. It is also practically impossible to predict. Instead, INDEXO is based on worldwide research on an approach that is highly reliable in delivering good long-term returns.


This approach is characterized by two factors:


1) Significantly lower costs. Full cost transparency. No investment in expensive self-managed funds.

Global research shows that low costs are the best predictors of likely future returns. We have written more about it here:


2) Investment in global financial market indices. The so-called passive philosophy of asset management.


Thought in a nutshell:


We do not try to predict market movements and pick the “right” stocks or bonds. World studies show that this is practically impossible. When actively buying and selling financial instruments, more is paid in brokerage commissions than it is possible to earn.


Instead, we invest in the global markets as a whole and hold the investment for the long term.


Market fluctuations are expected in the short term. Periods of both profit and loss are expected, which can last for several years. In the long term, the world economy develops, market indices rise and the investor earns.


You can read more about why this approach is being adopted by more and more investors around the world here.

About investment plans and their change

How can I find out my 2nd pension pillar savings and current investment plan?

By law, 2nd pension pillar is anonymous – INDEXO and other asset managers do not know who their clients are. Therefore, you can view your personal 2nd pension pillar savings and investment plan only on the Latvian state portal:


For a detailed statement of your second pillar pension savings, follow these steps:


1) Go to the link:

2) Log in to (by clicking on “Start e-service”).

3) Tick “I am familiar with the specified information”, and press “Next”.

4) Choose statement no. 3 “2nd pension pillar member’s account statement”, press “Next” (below).

5) Choose the year for which you want to receive data, and press “Next”.

6) Press “Download statement”.

How to change the 2nd pension pillar investment plan and asset manager?

You can change your investment plan within a few minutes on the portal.


Click here and follow the instructions on the screen! If you have any questions, detailed instructions are available here.

How often is it possible to change the 2nd pension pillar investment plan and asset manager?

That means if you haven’t changed your investment plan this year or have changed your plan but not the fund manager, you can join INDEXO.


If you have changed your fund manager this year (for example, from one bank to another), you can join INDEXO next year.


Good to know: If you submit a plan change request at the wrong time, your request will be denied, but that’s all – there will be no negative consequences.

Will my bank know if I change my investment plan?

Legislation prevents the fund manager from knowing the identity of investment plan participants. Unless you tell the bank that you’re switching, and you switch the plan by clicking the “JOIN” button on our site instead of in the Internet bank, the bank will not know about the plan change.


Even if the bank found out that you changed the plan, the law prohibits any form of “retaliation” – for example, removing client privileges or changing credit terms. Therefore, you can freely choose your 2nd pillar pension investment plan without fear.

About safety

Why is it safe to invest in INDEXO managed investment plans?

The second pillar of the Latvian pension system is built with high security. The fund manager only directs where to invest the money but does not hold your savings. This means that any investment plan is as secure as any other.


In the case of INDEXO, Swedbank AS acts as the custodian bank for investors’ funds. For double security, all transactions go through the custodian bank and can only be executed with its approval. One of the main responsibilities of the custodian bank is to ensure that all orders comply with the law and the investment plan’s prospectus.

Is the security of the investment plan dependent on the fund manager's performance?

No. The segregation of funds held by the custodian bank ensures that the assets of any investment plan remain secure even if the fund manager experiences financial difficulties. In our case, the custodian bank is Swedbank AS.

What would happen if the custodian bank encountered difficulties?

Since the custodian bank holds investors’ funds separately, financial difficulties at the bank do not jeopardize the funds. For instance, during the “Latvijas Krājbanka” bankruptcy, pension funds remained secure at all times.

Does INDEXO guarantee returns on investment plans?

The market rises and falls. No one can control this. Therefore, no fund manager can guarantee that an investment plan will provide a specific level of return. The law also prohibits making such promises.


“INDEXO Jauda 16–50” is INDEXO’s pension plan with the highest potential returns, and therefore, the highest expected volatility. Choosing this plan means understanding that financial market indices can be very volatile in the short term. There will be periods of profit as well as crises and market declines. Thus, this plan is recommended for younger investors aged 16 to 50.


The investment plan “INDEXO Izaugsme 47–57” offers moderately high potential returns and moderately high volatility, making it suitable for investors aged 47 to 57.


Investing in market indices diversifies risk very effectively. Individual companies may stagnate or go bankrupt, but even if indices fall, they usually recover over time. In the long term, the global economy grows, and indices rise accordingly.


Therefore, for pension savings, investing in market indices with low costs is a very attractive choice. This is exactly what INDEXO offers.

Choose which
product to join

2nd pension pillar

6% of your salary is already being saved in 2nd pension pillar. Invest it more effectively with INDEXO.

3rd pension pillar

Make contributions to 3rd pension pillar and save using automated investment system.

Choose the best
plan for your age


Best for 16-50
year olds!
Volatile, with high profit potential
Documents and conditions

INDEXO Izaugsme

Best for 47-57
years olds!
Moderately volatile, with moderately high profit potential
Documents and conditions

INDEXO Konservatīvais

Best for 55+!
Stability in the years before retirement
Documents and conditions

Forwarding to
is in progress


Authorize on the portal using one of the available methods.


Submit e-application for selection or change the investment plan of 2nd pension pillar


Choose an investment plan best for your age
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