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Plan for your retirement

It is never too early to build up additional capital that will enable you to continue your lifestyle when you retire. From the beginning of your working life, you have the option of taking out saving solutions and benefiting from tax breaks.

Pension insurance: complements your statutory pension and occupational pension

Taking out pension insurance enables you to build up a regular savings fund over the long term.

You benefit from a profit share dependent on the financial performance of the Insurance Company. You also have the option of investing your savings in a range of Collective Internal Funds to suit your investor profile.
You can also choose the frequency at which you pay your premiums: monthly, quarterly, half-yearly or annually.

 

Your retirement income

When you retire, you have two choices of how to benefit from your savings:

  • You decide to take out all of your savings. In this case, your capital will be taxed at half of the overall rate of income tax applicable on the day the policy is surrendered.
  • You decide to take some or all of your principal as a monthly capital annuity, 50% of which is tax exempt.

Your policy will mature on your 60th birthday at the soonest provided that your policy is for at least 10 years.

 

Tax breaks

You benefit from an annual tax deduction of up to €3,200 for your pension insurance, regardless of your age.

Rose knows that her statutory pension will not be enough to finance her plan to move abroad when she retires. She takes out a pension insurance policy and invests her premiums in Collective Internal Funds. She deducts up to €3,200 from her tax return every year. When she takes her pension, Sarah will be able to make the most of her new life.

PRIIPS

Key Information and Specific Information

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