Survey: Nearly One-Third of Residents Would Not Withdraw Second Pension Tier Savings Early
A survey by LSM.lv and Norstat shows that 30% of Latvian residents would not take advantage of early withdrawal of second-pension-tier savings if it were allowed. Signature collection for a referendum on this issue is ongoing.
In Latvia, a signature collection has been launched to hold a referendum on the possibility of earlier access to second-pension-tier savings. A survey conducted by the portal LSM.lv in collaboration with the research agency Norstat indicates that almost one-third (around 30%) of residents would not withdraw these savings early even if such an option existed.
Those wishing to make an early withdrawal should be aware that personal income tax will have to be paid on the withdrawn amount. Furthermore, it remains unclear whether debts, such as unpaid alimony, can be recovered from early-withdrawn savings. These questions are still open as the initiative progresses.
