Only 15 percent of the Latvian population considers pension savings to be a significant form of wealth, according to CBL Asset Management, a subsidiary of Citadele Bank, which informed LETA, referring to a recent survey.

The survey results show that every second Latvian, or 52 percent, regards an apartment or a house as their greatest source of wealth. Human capital is also highly valued – one in three respondents (36 percent) consider knowledge and skills, as well as education and qualifications (30 percent), to be their most important assets. Family support or inheritance (23 percent) was also frequently mentioned, while the top five most valued assets include savings in a bank account, which give one in five respondents (19 percent) a sense of security and confidence about the future.

Only 15 percent of Latvians view their pension savings as a significant asset.

According to CBL Asset Management, this suggests that people tend to favor traditional assets, while the second-tier pension system – which accumulates long-term value – remains undervalued.

Karlis Purgailis, Chairman of the Board of CBL Asset Management, pointed out that second-tier pension capital is the most underestimated form of wealth in Latvia.

He explained that mandatory contributions to the second pension pillar are invested by the chosen asset manager in financial markets in line with the respective investment plan’s strategy. These savings ensure that future pensions will not rely solely on the state-provided first pillar but will also be supported by personal capital accumulated over the years.

The survey was conducted by CBL Asset Management in cooperation with the research agency Norstat in August 2025, polling more than 1,000 Latvian residents aged 18 to 74 online.

Source: BNS

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