Save for your pension with KBC
Made easy for you:
Choose between a pension savings fund or a pension savings insurance plan
Specify the maximum amount you want to save, 1,020 euros or 1,310 euros per year.
Set up your plan with just a few taps in KBC Mobile and start saving from as little as 10 euros a month
Why save for your retirement?
Pay less tax.
When you save for your pension, you set aside an amount each year. Depending on the maximum tax-deductible amount you choose, you earn a tax benefit of up to 30% on your deposits the following year.
You can choose between two options:
- The standard amount is maximum 1,020 euros in 2024. You earn a tax benefit of 30% on your deposited amounts, or 306 euros per year.
Please note that if you save less, you will not receive the full tax benefit. The benefit applies to the amounts actually deposited. - If you want to build up extra pension capital, you can choose for a maximum of 1,310 euros in 2024. You earn a tax benefit of 25% on your deposited amounts, or 327.50 euros per year.
Please note that if you choose this option, be sure to save at least 1,224 euros, otherwise you earn less tax benefit than if you choose 1,020 euros.
Supplement your state pension
There is every chance that your state pension won’t be enough to maintain your lifestyle when you retire. Pension saving is one way to supplement your state retirement pension.
The return you could get on your pension savings
The return depends on several things, including the product you go for:
Pension savings fund
A pension savings fund invests in shares and bonds and is therefore susceptible to fluctuations on the financial markets.
The advantage: you have the prospect of higher returns in the long run.
The flipside: your return and the repayment of the capital sum you invest are exposed to market risk. You therefore have no capital protection.
Pension savings insurance plan
If you’re after a higher degree of security, you’re better to go for a pension savings insurance plan. Each deposit you make earns a guaranteed rate of interest right up until your contract ends. In addition, the insurance company may also pay a profit share, but that depends on its results and therefore is not guaranteed.
The costs when saving for your pension
- Every time you pay into your plan, you pay entry charges. This applies to both formulas.
- If you opt for a pension savings fund, you also pay annual management fees, because the fund invests in shares and bonds and is actively monitored.
- For both products, you pay a final tax, usually on your 60th birthday. If you start saving for your pension after turning 55, you have to pay that tax after 10 years.
Note, however, that the exact amount of tax you pay will depend on your individual circumstances and can change in the future. For more information (including on the final tax charge), feel free to contact us.
Do you have any questions? We are here to help!
We, the employees of your trusted KBC office, remain there for you.
Together we form a team of experts to help you, where and when you want!