Estonia’s Luminor has received approval from the Financial Supervision Authority to merge two of its voluntary pension funds and rename another.

On 15 October 2026, Luminor Sustainable Future 50-55 Index Pension Fund will merge with Luminor Future Index Pension Fund.

Luminor Sustainable Future 50-55 Index Pension Fund will act as the merging fund and Luminor Future Index Pension Fund will act as the acquiring fund.

Unitholders in Luminor Sustainable Future 50-55 Index Pension Fund will become participants of the larger, merged pension fund.

However, they will be using a different investment strategy as members of the merged pension fund, with a greater level of risk.

Luminor said the merger would not have any significant impact on the members of Luminor Future Index Pension Fund.

“Unitholders of both funds who do not wish to participate in the merger may exchange their units for units of another voluntary pension fund or redeem them without a redemption fee before the merger takes effect,” Luminor stated.

In connection with the merger, the name of Luminor Tulevik 16-50 Pension Fund will also be changed from 15 October to Luminor Tulevik 16+ Pension Fund.

Luminor said the name change aimed to better align the fund with its range of voluntary pension funds following the merger.

“The change also takes into account the fact that the retirement age changes over time and the duration of working life is increasing,” Luminor explained.

“The change of the fund's name does not entail any other changes to the fund's terms and conditions or prospectus, including the investment policy and strategy, risk profile or fee rates.

“Therefore, the change does not affect the fund's operations or the rights and obligations of unitholders, and in the opinion of the fund management company, its impact on the reasonable interests of unitholders is insignificant.”

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