20.06.2025
As of today, a new pricing structure applies to the LHV Pension Investment Account (PIA), significantly reducing several investment-related fees by nearly half. The goal of this fee adjustment is to make growing one’s pension assets more accessible.
‘PIA offers a great opportunity to take control of managing your pension assets while still enjoying the benefits of the second pillar,’ Sander Pikkel, the Head of Investment Services at LHV, said. He noted that, so far, the PIA option has primarily been used by individuals with above-average wealth, with contributions to LHV’s PIA being approximately 1.5 times higher than the average second-pillar inflows. ‘Still, we believe that with rising financial literacy, PIA could command a much larger share of the second-pillar market in the future,’ Pikkel noted. Currently, nearly 80% of PIA users in Estonia invest through LHV.
Pikkel emphasised that since the responsibility for managing pension assets in a PIA lies entirely with the investor, it is particularly suitable for clients who already have some investing experience. ‘Among other things, PIA investors can take positions on the stock exchanges that may differ from fund managers’ views. For example, one can participate in Baltic IPOs or select interesting individual stocks,’ Pikkel explained.
He pointed out that users of PIA who prefer automated investing have most likely included exchange-traded index funds in their portfolios. In contrast, among clients making transactions independently, as many as one-third have invested exclusively in individual stocks. Of all LHV PIA clients, just over 10% rely solely on automated investments, while more than 70% make their own investment decisions.
The updated pricing aligns the fee structure of PIA more closely with the LHV Growth Account and Securities Account. For example, the fee for automated purchase transactions of PIA has been reduced from 1% to 0.5% and the minimum sales fee has dropped from 9 euros to 5 euros. Additionally, the holding of foreign securities up to 100,000 euros will now be free of management fees. More details about the updated price list can be found here.
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