At the end of the first quarter, when Lithuanians had the opportunity to withdraw their accumulated funds from the second pillar pension system, the impact on the economy is evident. According to official data, based on applications submitted in the first quarter, Lithuanians will be paid nearly €3 billion. Increased customer flows and turnover are already being recorded not only by sellers of travel services, smartphones, computers, and household appliances, but also by parcel delivery companies.
Operating in all three Baltic countries and Finland, SmartPosti recorded a one-fifth increase in parcel volumes in Lithuania during the first half of April.
“Already at the end of last year, when economic experts were discussing how much money might be withdrawn from the second pillar, we anticipated that our workload could increase as well. But we certainly did not expect such impressive growth. Compared to a typical spring week, we are currently seeing about a 20% increase in parcel volumes,” says Gediminas Mickus, Vice President for the Baltic countries at Posti Group.
According to him, parcel volumes began to rise in the second week of April and have continued to grow since then.
“This week, the number of delivered parcels is likely to be one of the highest in our company’s history – even compared to the Christmas period, when parcel volumes are usually at their peak,” notes G. Mickus, adding that the largest flows are recorded from Lithuania, China, Poland, and Germany.
A SmartPosti representative explains that in response to the increased parcel volumes, the company has had to react quickly by increasing the number of employees in the sorting department. He also points out that due to locker capacity constraints, delivery times may lengthen in the coming weeks.
“We would like to thank all our customers in advance for their understanding and patience while waiting for their ordered parcels. Due to the increased volumes, we encourage senders to carefully specify delivery addresses so that the entire process runs as smoothly as possible, and we will do our best to ensure all parcels reach their recipients on time,” says G. Mickus.
An additional nearly €3 billion in the market
Yesterday, the Lithuanian Investment and Pension Funds Association (LIPFA) published summarized data showing that by March 31, 2026, Lithuanian residents who submitted requests to withdraw from the second pillar pension system will receive a total of approximately €2.9 billion. On average, a person withdrawing funds from the second pillar will receive around €5,600.
At the end of last year, before amendments to the pension law came into force, economic experts predicted that at least €1 billion could be withdrawn from the second pillar pension system. Less than four months ago, on December 22 last year, experts from the Bank of Lithuania (LB) forecast that average annual inflation in 2026 would reach 3.1%.
In the latest LB review published on April 2, this forecast has already been increased to 5.1% – and that is under the baseline scenario. Under an adverse scenario, inflation could rise to as much as 5.8% this year. The main reasons for this change are rising fuel and energy prices due to conflicts in the Middle East, as well as the injection of withdrawn second pillar pension funds into the economy through private consumption.
