From July 1, 2024, the State Social Insurance Agency (SASS, VSAA) will transmit information about participants whose assets they manage to 2nd pillar pension asset managers and banks. Until now, information about which manager’s services residents use was available only to the state and each client individually. However, what does this practically mean for the population, for the industry, and will we be able to responsibly use these changes in the law, moving closer to the common goal – a more streamlined pension system in the country? What will banks be prohibited from doing and what information will they request?
