Posts tagged as savings

Police detain three persons with ties to savings and loan association Erial

Wednesday, November 11, 2020

Three persons associated with savings and loan association Erial were detained on Tuesday and stand suspected of investment fraud and embezzlement. Erial’s founder is also suspected of bribing a Police and Border Guard Board (PPA) internal control bureau employee. According to suspicions, Erial’s shareholders’ equity was inflated to mislead customers in terms of its available financial security, the Office of the Prosecutor General and PPA said. Erial founder Ilja (34),…

Most Lithuanians reluctant to invest their savings, survey finds

Tuesday, February 11, 2020

More than half of Lithuanians keep their savings in their current account and only one in ten invest their money. Despite the rapid household income growth in the past two decades, assets that do not generate income and are not protected against inflation still make up a large part of people’s assets, Vaidotas Rukas, the company’s chief investment officer, said on Monday. “Assets that are neither income-producing nor inflation-proof still…

Latvian residents want their pension savings passed on after death

Monday, February 10, 2020

So far a total of 67 826 Latvian residents have chosen in favour of passing on their second level pension savings in the event of their death. 66.9% have chosen to let their pension savings be inherited after their death, as reported by State Social Insurance Agency (VSAA) representative Iveta Daine. At the same time, 31.9% have chosen to add their remaining second level pension amount to someone else’s second…

Clocks to be turned one hour back on 28 October

Thursday, October 18, 2018

28 October marks the end of daylight savings time in Latvia and elsewhere in the world. This is when all clocks are to be turned one hour back, Latvian Economy Ministry reminds. The transition to winter time in Latvia will take place at 04:00 a.m. Sunday, 28 October. Clocks will be turned one hour back. The transition back to daylight savings time will take place 31 March 2019. «As it…

Study: nearly half of residents create savings in cash form

Friday, June 29, 2018

Nearly half of Latvia’s residents (42.3%) create savings in the form of cash. 17.4% of residents use bank accounts for savings, according to a study performed by Ferratum Bank about saving habits of Latvian residents. 7.7% of Latvian residents admit having deposits in some pension fund, 1.3% of residents keep savings in the form of jewellery, and 1.4% purchase shares. Study results show that 30.4% of residents try saving at…