{"id":92178,"date":"2026-01-02T04:58:08","date_gmt":"2026-01-02T04:58:08","guid":{"rendered":"https:\/\/www.europesays.com\/lv\/92178\/"},"modified":"2026-01-02T04:58:08","modified_gmt":"2026-01-02T04:58:08","slug":"vai-pensiju-burbulis-plisis-jau-2026-gada","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/lv\/92178\/","title":{"rendered":"Vai pensiju burbulis pl\u012bs\u012bs jau 2026. gad\u0101?"},"content":{"rendered":"

Akcij\u0101s un zelt\u0101 izdar\u012btajiem ieguld\u012bjumiem 2025. gad\u0101 iegr\u0101matots tik liels v\u0113rt\u012bbas pieaugums, ka ieguld\u012bjumu apsaimniekot\u0101ji jau s\u0101ku\u0161i uztraukties par 2026. gad\u0101 iesp\u0113jamu cenu burbu\u013cu pl\u012b\u0161anu.<\/p>\n

Tagad jau praktiski visi Latvij\u0101 str\u0101d\u0101jo\u0161ie cilv\u0113ki padar\u012bti par ieguld\u012bt\u0101jiem spaidu k\u0101rt\u0101 – par ieguld\u012bt\u0101jiem pensiju otraj\u0101 l\u012bmen\u012b. Divu iemeslu d\u0113\u013c cilv\u0113ki izvair\u0101s interes\u0113ties, kas notiek ar to da\u013cu no vi\u0146u soci\u0101l\u0101s apdro\u0161in\u0101\u0161anas (soci\u0101l\u0101 nodok\u013ca) iemaks\u0101m, kura t\u016bl\u012bt pat neaiziet pensiju izmaks\u0101m. Vairums cilv\u0113ku pietiekami objekt\u012bvi atz\u012bst savu nesp\u0113ju izsekot finan\u0161u spekul\u0101cij\u0101m. Savuk\u0101rt tie, kuru profesijas dod pietiekami daudz zin\u0101\u0161anu un prasmju, lai izp\u0113t\u012btu ar\u012b pensiju uzkr\u0101jumu gr\u0101matved\u012bbu, \u013coti dr\u012bz saprot, ka pensiju otrais l\u012bmenis ir ieguld\u012bjumu piram\u012bda, kas past\u0101v ar diviem nosac\u012bjumiem. Pirmo, ka taj\u0101 tiek iemaks\u0101ts vair\u0101k, nek\u0101 no t\u0101s izmaks\u0101ts. Otro, ka iemaks\u0101t\u0101 nauda vienm\u0113r ir daudz v\u0113rt\u012bg\u0101ka nek\u0101 izmaks\u0101t\u0101, jo izmaks\u0101t\u0101s naudas v\u0113rt\u012bba ir gadu desmitu laik\u0101 sarukusi infl\u0101cijas d\u0113\u013c. T\u0101p\u0113c cilv\u0113ki sarg\u0101 savu psihisko vesel\u012bbu, lieku reizi nep\u0101rliecinoties par to, ka vi\u0146u nodok\u013cos samaks\u0101t\u0101 nauda tiek p\u0101rv\u0113rsta par gandr\u012bz neko.<\/p>\n

Cenas veikalos aug, nauda bank\u0101s neaug<\/p>\n

Naudas v\u0113rt\u012bbas zudumu labi par\u0101da kaut vai \u201cNeatkar\u012bg\u0101s\u201d \u0161\u0101 gada 21. apr\u012b\u013ca publik\u0101cija<\/a> par to, k\u0101 l\u012bdz 20,39 eiro uzk\u0101pusi cena vieniem un tiem pa\u0161iem p\u0101rtikas produktiem, k\u0101di 2004. gad\u0101 ap to pa\u0161u laiku (da\u017e\u0101dos datumos, bet vienm\u0113r uz Lieldien\u0101m) tika nopirkti par pieciem latiem, kas aritm\u0113tiski atbilst 7,1 eiro. \u0160odien par t\u0101du naudu var nopirkt labi ja tre\u0161o da\u013cu no t\u0101, ko var\u0113ja nopirkt br\u012bd\u012b, kad Latvija tika uz\u0146emta Eiropas Savien\u012bb\u0101. V\u0113l jo maz\u0101ka da\u013ca no k\u0101dreiz\u0113j\u0101s pirktsp\u0113jas atlikusi pirmajiem latiem, kuru ieskait\u012b\u0161ana pensiju uzkr\u0101jumos Latvij\u0101 s\u0101k\u0101s 2001. gada j\u016blij\u0101.<\/p>\n

Pensiju fondu apsaimniekot\u0101ji ar ieguld\u012bjumu procentiem (aug\u013ciem) kompens\u0113 tikai nelielu da\u013cu no ieguld\u012bt\u0101ju ciestajiem zaud\u0113jumiem. Ieguld\u012bt\u0101s naudas apsaimnieko\u0161anas kopsavilkums tiek public\u0113ts port\u0101l\u0101 manapensija.lv. Pa\u0161laik tas r\u0101da, ka tie pensiju pl\u0101ni, kuri visp\u0101r sp\u0113j\u012bgi atskait\u012bties par ienes\u012bgumu 15 gadu garum\u0101, sp\u0113ju\u0161i nodro\u0161in\u0101t vid\u0113jo ienes\u012bgumu robe\u017e\u0101s starp 1,20% un 4,41% gad\u0101. Te un t\u0101l\u0101k 30. decembr\u012b fiks\u0113ti skait\u013ci, kas manapensja.lv tie\u0161saistes tabul\u0101 main\u0101s dienu no dienas l\u012bdzi v\u0113rtspap\u012bru cenu sv\u0101rst\u012bb\u0101s pasaules fondu bir\u017e\u0101s. T\u0101ds, l\u016bk, vid\u0113jais ienes\u012bgums br\u012bd\u012b, kad to uz aug\u0161u vilcis daudz liel\u0101ks ienes\u012bgums da\u017eu p\u0113d\u0113jo gadu un tie\u0161i p\u0113d\u0113j\u0101, 2025. gada laik\u0101. Pensiju pl\u0101nu gada ienes\u012bguma r\u0101d\u012bt\u0101ji par pag\u0101ju\u0161o gadu 5-6% robe\u017e\u0101s ar virsotni 9,44% augstum\u0101 un nullei tuviem 0,77% pensiju pl\u0101nam, kuru apsaimniekojo\u0161os finan\u0161u spekulantus vismaz \u012bstermi\u0146\u0101 izmu\u013c\u0137oju\u0161i sl\u012bp\u0113t\u0101ki spekulanti, iesm\u0113r\u0113jot vientie\u0161iem (vai naudas izsaimnieko\u0161anas sh\u0113mu dal\u012bbniekiem) no Latvijas piln\u012bgi bezv\u0113rt\u012bgus v\u0113rtspap\u012brus.<\/p>\n

\u0160\u0101 gada garum\u0101 sasniegtie 9,44% ienes\u012bguma izskat\u0101s \u013coti labi jeb augstu virs Centr\u0101l\u0101s statistikas p\u0101rvaldes public\u0113tajiem infl\u0101cijas r\u0101d\u012bt\u0101jiem, kas 2025. gada m\u0113ne\u0161os sv\u0101rst\u012bju\u0161ies ap 3-4%. 2024. gad\u0101 kopum\u0101 attiec\u012bb\u0101 pret 2023. gadu par infl\u0101cijas ofici\u0101lo r\u0101d\u012bt\u0101ju nosaukti 1,3% (!). B\u016btu labi, ja t\u0101 b\u016btu, – ja cilv\u0113ki var\u0113tu nopirkt p\u0101rtiku par cen\u0101m, k\u0101das pamana statisti\u0137i, nevis pirc\u0113ji. 21. apr\u012b\u013ca publik\u0101cija bija zem virsraksta \u201cRe\u0101l\u0101 infl\u0101cija Latvij\u0101 atgrie\u017eas pie skandalozajiem 20% gad\u0101”, jo faktisk\u0101 cena p\u0101rtikas grozam 12 m\u0113ne\u0161os, ko kuriem liel\u0101ko da\u013cu bija devu\u0161i 2024. gada m\u0113ne\u0161i, bija pieaugusi no 17,14 l\u012bdz 20,39 eiro.<\/p>\n

Latvij\u0101 nodok\u013cos iekas\u0113t\u0101 nauda j\u0101atst\u0101j Latvij\u0101! <\/p>\n

Pensiju otrais l\u012bmenis tika uzspiests Eiropas Savien\u012bbas kandid\u0101tvalst\u012bm, lai papla\u0161in\u0101tu ES vecaj\u0101s dal\u012bbvalst\u012bs jau izveidot\u0101s pensiju piram\u012bdas pamatni ar cilv\u0113kiem, kuri iemaks\u0101 naudu pret sol\u012bjumu sa\u0146emt \u0161o naudu atpaka\u013c t\u0101l\u0101 n\u0101kotn\u0113. Pensiju otr\u0101 l\u012bme\u0146a ievie\u0161ana Latvij\u0101 bija oblig\u0101ti izpild\u0101ma pras\u012bba, ko m\u012bkstin\u0101ja sol\u012bjumi, ka infl\u0101cija ES (eiro zon\u0101, iest\u0101\u0161anos kur\u0101 Latvija paredz\u0113ja gandr\u012bz vai n\u0101kamaj\u0101 dien\u0101 p\u0113c uz\u0146em\u0161anas ES) b\u016b\u0161ot ap 2% gad\u0101 un ieguld\u012bjumu ienes\u012bgums – ap 4-5% gad\u0101. Toreiz nevienam neien\u0101ca pr\u0101t\u0101, ka ar\u012b 20% infl\u0101ciju statisti\u0137i sp\u0113j nosaukt par 2% infl\u0101ciju un ka Eiropas Centr\u0101l\u0101 banka pazemin\u0101s savas procentlikmes no parastajiem 2-3% l\u012bdz -0,50%, k\u0101di tie bija no 2019. gada septembra l\u012bdz 2022. gada j\u016blijam. T\u0101 bija deklar\u0101cija, ka ieguld\u012bjumi ir princip\u0101 zaud\u0113jumus neso\u0161i!<\/p>\n

Labais \u0161aj\u0101 b\u0113du lej\u0101 ir piem\u0113ri, ka Igaunija jau 2020. gad\u0101 un Lietuva nupat ir tikusi no pensiju otr\u0101 l\u012bme\u0146a va\u013c\u0101. Par ES kandid\u0101tvalstu ties\u012bb\u0101m liel\u0101k\u0101s ES dal\u012bbvalstu ties\u012bbas iesp\u0113jams izlietot ne tikai t\u0101, k\u0101 t\u0101s izlieto Ung\u0101rija. Latvijai laiks p\u0101riet no run\u0101m par izst\u0101\u0161anos no Stambulas konvencijas uz re\u0101lu izst\u0101\u0161anos no pensiju otr\u0101 l\u012bme\u0146a piram\u012bdas.<\/p>\n

Pensiju neienes\u012bgums nevar b\u016bt arguments \u0161\u0101dam l\u0113mumam, jo nodok\u013cu maks\u0101t\u0101ju naudas zaud\u0113jumi ir finan\u0161u spekulantu ieguvumi. T\u0101p\u0113c Latvijas komercbankas k\u0101 pensiju fondu \u201cjumti\u201d ar\u012b \u0161o v\u0101rdu tie\u0161aj\u0101 noz\u012bm\u0113 uzliku\u0161as politi\u0137iem iemauktus, lai tie nep\u0101rtrauktu nodok\u013cu naudas pl\u016bsmu uz bank\u0101m. Jaut\u0101jums ir tikai par to, vai Latvijas valsts finanses sp\u0113s iztur\u0113t t\u0101dus dar\u012bjumus, ka valsts \u201ciemaks\u0101 847 miljonus, lai sa\u0146emtu 124 miljonus\u201d<\/a> k\u0101 2024. gad\u0101. Te ta\u010du redzams, ka ar iemaks\u0101m pensiju otraj\u0101 l\u012bmen\u012b pietiktu un p\u0101ri paliktu, lai finans\u0113tu gan \u201cRai Baltica”, gan \u201cairBaltic\u201d. \u0160ie projekti ir zaud\u0113jumus neso\u0161i, ta\u010du naudas atst\u0101\u0161ana groz\u012b\u0161anai uz vietas tik un t\u0101 b\u016btu liels ieguvums, ja sal\u012bdzina ar naudas atdo\u0161anu groz\u012b\u0161anai fondu bir\u017e\u0101s pasaul\u0113.<\/p>\n

Centr\u0101l\u0101s bankas tiek spiestas \u0161\u0101 un t\u0101<\/p>\n

K\u0101 lodzi\u0146u uz ieguld\u012bjumu apsaimnieko\u0161anu pasaul\u0113 izmantosim banku lielvalsts \u0160veices ietekm\u012bg\u0101ko laikrakstu \u201cNeue Z\u00fcrcher Zeitung\u201d (NZZ). Uzman\u012bbu piesaist\u012bja t\u0101 24. decembra publik\u0101cija ar virsrakstu \u201c\u201cV\u0113l\u0101kais p\u0113c 18 m\u0113ne\u0161iem mums atkal b\u016bs negat\u012bvas procentlikmes\u201d: ieguld\u012bjumu profesion\u0101\u013ci iel\u016bkojas 2026. gad\u0101 ar dal\u012bt\u0101m j\u016bt\u0101m.\u201d<\/p>\n

\"\"\/ <\/p>\n

Iepl\u0113sums<\/p>\n

Virsraksts piesaka apa\u013c\u0101 galda sarunu starp \u010detriem ieguld\u012bjumu firmu vad\u012bt\u0101jiem un l\u012bdz\u012bpa\u0161niekiem. Kad viens no vi\u0146iem paredz negat\u012bv\u0101s likmes, otrs atz\u012bst, ka “termins “negat\u012bvas procentu likmes” liek manai sirdij asi\u0146ot. Procenti ir naudas cena, un tiem j\u0101b\u016bt pozit\u012bviem.\u201d Tie\u0161i centr\u0101laj\u0101m bank\u0101m j\u0101vicina kapit\u0101la pieauguma procenti k\u0101 karogs, k\u0101 apliecin\u0101jums absol\u016bti dro\u0161am pe\u013c\u0146as minimumam un k\u0101 iedro\u0161in\u0101jums mesties uz\u0146\u0113m\u0113jdarb\u012bb\u0101, lai ar papildu p\u016bl\u0113m nopeln\u012btu v\u0113l vair\u0101k.<\/p>\n

Sarun\u0101 atkl\u0101jas, ka \u0160veices centr\u0101l\u0101 banka joproj\u0101m notur nulles likmi un b\u016b\u0161ot spiesta to pazemin\u0101t, kam\u0113r cit\u0101m v\u0113r\u0101 \u0146emam\u0101m centr\u0101laj\u0101m bank\u0101m ir likmju pazemin\u0101\u0161anas rezerves virs nulles. ECB bija likmi uzr\u0101vusi no negat\u012bvas l\u012bdz 4%, bet tagad pazemin\u0101jusi l\u012bdz 2% un ap\u0146\u0113musies to notur\u0113t, ja eirozonu nep\u0101r\u0146ems bankrotu draudu vilnis, kuram pret\u012b ECB liktu naudas iepl\u016bdin\u0101\u0161anu aprit\u0113 (par ekonomiku to gr\u016bti nosaukt). ASV Feder\u0101lo rezervju sist\u0113ma (centr\u0101l\u0101 banka ar \u012bpatn\u0113ju nosaukumu) 2025. gada decembr\u012b pazemin\u0101ja likmi l\u012bdz 5,25% ar nodomu pak\u0101peniski pazemin\u0101t to ar\u012b turpm\u0101k l\u012bdz 2% tad, kad \u0161\u0101 gada novembr\u012b tiks r\u012bkota ASV Kongresa un Sen\u0101ta da\u013c\u0113j\u0101 p\u0101rv\u0113l\u0113\u0161ana. \u0160\u0101du likmju pazemin\u0101\u0161anas grafiku FRS uzspiedis ASV prezidents Donalds Tramps ar m\u0113r\u0137i, lai aprit\u0113 papildus iepl\u016bdus\u012b nauda uzlabotu v\u0113l\u0113t\u0101ju garast\u0101vokli un tie nepadz\u012btu Republik\u0101\u0146u partijas politi\u0137us no v\u0113l\u0113tajiem org\u0101niem. \u0160veicie\u0161i paredz, ka t\u0101d\u0113j\u0101di ASV augs infl\u0101cija un turpin\u0101s pazemin\u0101ties dol\u0101ra kurss, kas svar\u012bgi, ja no ASV j\u0101izgr\u0101bj nauda, lai nor\u0113\u0137in\u0101tos ar pension\u0101riem \u0160veices frankos \u0160veic\u0113 vai eiro Latvij\u0101. 2025. gada laik\u0101 dol\u0101ra kurss pret eiro jau nosl\u012bd\u0113jis no 0,9588 l\u012bdz 0,8499 (par 11,4%), attiec\u012bgi pazeminot pe\u013c\u0146u no darbo\u0161an\u0101s ar dol\u0101riem, ja pe\u013c\u0146a j\u0101konvert\u0113 cit\u0101s val\u016bt\u0101s.<\/p>\n

Naudas ra\u017eo\u0161an\u0101 nodarbina m\u0101ksl\u012bgo intelektu<\/p>\n

Infl\u0101cija ASV investoriem tom\u0113r ir izdev\u012bga t\u0101d\u0101 veid\u0101, ka uzp\u016b\u0161 vi\u0146u akt\u012bvus. Statisti\u0137i ir sa\u0161aurin\u0101ju\u0161i infl\u0101cijas m\u0113r\u012bjumus l\u012bdz pat\u0113ri\u0146a pre\u010du un pakalpojumu cen\u0101m, bet p\u0113c b\u016bt\u012bbas tas pats v\u0101rds attiecin\u0101ms ar\u012b uz akcij\u0101m. Par akciju cenu izmai\u0146u simbolu kalpo Dow Joines indekss, kas 2025. gada laik\u0101 k\u0101pis 42 526 l\u012bdz 48 526 punktiem (atmestas punktu desmitda\u013cas un simtda\u013cas) jeb 14%. Liel\u0101ku akciju masu p\u0101rst\u0101vo\u0161ais S&P indekss k\u0101pis no 5 906 l\u012bdz 6 905 punktiem par 17%.<\/p>\n

Nosauktie indeksi apkopo ASV b\u0101z\u0113tu uz\u0146\u0113mumu akciju cenas, kuru k\u0101pums noticis laik\u0101, kad FRS nevis palielin\u0101jusi, bet samazin\u0101jusi sav\u0101 bilanc\u0113 eso\u0161ie dol\u0101ru daudzumu no 6,85 l\u012bdz 6,55 triljoniem. T\u0101tad nauda rauta lauk\u0101 no citiem pielietojuma veidiem, lai spekul\u0113tu ar akcij\u0101m ASV bir\u017e\u0101. Naudu bir\u017eai pievilcis \u201clieliskais septi\u0146nieks\u201d, no kura dal\u012bbnieku nosaukumiem \u201cAmazon\u201d, \u201cApple\u201d, \u201cMicrosoft\u201d, \u201cMeta\u201d un \u201cTesla\u201d ar\u012b Latvij\u0101 paz\u012bstami, bet par \u201cAlphabet\u201d un \u201cNvidia\u201d esam\u012bbu j\u0101uzzina. Kop\u012bgais \u0161iem uz\u0146\u0113mumiem tas, ka katrs no tiem veicis daudzmiljardu dol\u0101ru ieguld\u012bjumus m\u0101ksl\u012bg\u0101 intelekta (MI) programmu un datoru vai to sast\u0101vda\u013cu izstr\u0101d\u0113 un ra\u017eo\u0161an\u0101.<\/p>\n

Pagaid\u0101m ieguld\u012bt\u0101ji atalgo uz\u0146\u0113mumus ar to akciju cenu pieaugumu nevis par MI produktu ra\u017eo\u0161anas un p\u0101rdo\u0161anas apjomu un pe\u013c\u0146as pieaugumu, bet tikai par izdevumu pieaugumu. Lai nu ko ieguld\u012bjumu apsaimniekot\u0101ji pa\u0161i dom\u0101tu par MI izredz\u0113m, vi\u0146u profesija ir ieguld\u012bt tur, kur cenas aug. NZZ sapulcin\u0101tie sarunas dal\u012bbnieki neuz\u0146\u0113m\u0101s ne apstiprin\u0101t, ne noliegt MI burbu\u013ca pl\u012b\u0161anu 2026. gad\u0101. Vi\u0146i var\u0113ja tikai atg\u0101din\u0101t, ka MI \u0161\u0137itis aizdom\u012bgs jau gadu iepriek\u0161. No \u0161\u012b fakta var izdar\u012bt pret\u0113jus secin\u0101jumus. Vai nu MI burbu\u013ca pl\u012b\u0161anai p\u0113d\u0113jais laiks pien\u0101cis, vai ar\u012b MI pietiks sp\u0113ka naudas s\u016bkn\u0113\u0161anai v\u0113l ne tikai gadu, bet vair\u0101kus gadus.<\/p>\n

\t\t\t\t\t\tinfo<\/p>\n

Uzzini pirmais
kas interesants noticis Latvij\u0101 un pasaul\u0113,
pievienojoties mums Telegram<\/a> vai Whatsapp<\/a> kan\u0101l\u0101<\/p>\n","protected":false},"excerpt":{"rendered":"Akcij\u0101s un zelt\u0101 izdar\u012btajiem ieguld\u012bjumiem 2025. gad\u0101 iegr\u0101matots tik liels v\u0113rt\u012bbas pieaugums, ka ieguld\u012bjumu apsaimniekot\u0101ji jau s\u0101ku\u0161i uztraukties…\n","protected":false},"author":2,"featured_media":92179,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[23,57,28,29,32,33,22,30,31,35,39,38,36,37,34,40,20,26,27,24,25,54,55,56,21,58],"class_list":{"0":"post-92178","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-zinas-no-arvalstim","8":"tag-aktualitates","9":"tag-arvalstim","10":"tag-breaking-news","11":"tag-breakingnews","12":"tag-featured-news","13":"tag-featurednews","14":"tag-headlines","15":"tag-latest-news","16":"tag-latestnews","17":"tag-latvia","18":"tag-latvian","19":"tag-latviesu","20":"tag-latviesu-valoda","21":"tag-latviesuvaloda","22":"tag-latvija","23":"tag-lv","24":"tag-news","25":"tag-popularakas-zinas","26":"tag-popularakaszinas","27":"tag-top-stories","28":"tag-topstories","29":"tag-world","30":"tag-world-news","31":"tag-worldnews","32":"tag-zinas","33":"tag-zinas-no-arvalstim"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@lv\/115823739050263328","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts\/92178","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/comments?post=92178"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/posts\/92178\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/media\/92179"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/media?parent=92178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/categories?post=92178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/lv\/wp-json\/wp\/v2\/tags?post=92178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}