INSURANCE

PLCI supplementary pension plan for self-employed individuals*

IN PRACTICE

A larger pension

The PLCI is a branch 21 insurance-based savings plan. As a self-employed individual, it's the basis of your pension plan, whether or not you're running a company, and including if you're just starting out. The premiums you pay are tax-deductible, so you get back 50% to 70% in tax benefits.

YOUR BENEFITS

Protect yourself and your business

Protect yourself, your family and your business if you’re unable to work or in the event of your death with additional cover. Or choose a social PLCI for better protection and more welfare benefits.

MORE INFORMATION

Contact us

Would you like to apply for a PLCI or get more information about your specific situation? Contact your personal advisor or call the Easy Banking Centre on 02 433 43 34 to schedule a video call.

* The PLCI or social PLCI is a supplementary pension plan for self-employed individuals. It is a Belgian-law branch 21 life insurance policy distributed by BNP Paribas Fortis. The policy is taken out for an agreed period.

The basis of your supplementary pension

If you’re self-employed, your state pension will be very limited. To maintain your standard of living in retirement, you need to build up your own pension pot as soon as possible.

The PLCI is an effective way to do this. Your contributions are fully tax-deductible, which reduces your taxable income. You pay not only less tax but also fewer social security contributions.

To maximise your tax benefit, you can combine your PLCI with other pension plans like the EIP, CPTI and private pension savings.

The PLCI in brief

Discover the main features of this savings plan, which allows you, as a self-employed individual, to build up a supplementary pension.

Tax-efficient

Automatically pay the maximum tax-deductible premium into your PLCI every year. Your premium is adjusted annually to your new reference income*, which AG receives from the government agency Sigedis.

A safe investment

With this branch 21 savings insurance policy, you benefit from the security of capital protection and a guaranteed interest rate, possibly supplemented by an annual profit-sharing payment.

Finance a property

You can use the pension pot you’ve built up, even before your statutory retirement date, to purchase, build, renovate or improve a property in the European Economic Area.

Also for assistants

The PLCI is not just for people whose self-employed activity is their main source of income: people who have a supplementary self-employed activity (except business starters), self-employed assistants and assisting spouses can also take out a PLCI.

* Your reference income is your net taxable professional income from three years ago, index-adjusted. You can find it on your payment slip for provisional social security contributions that you receive every quarter from your social security fund. You can also calculate your premium based on your social security contributions. This is useful, for example, for self-employed individuals who have not yet been active for three years.

A tailored PLCI for your specific needs

PLCI or social PLCI? Discover which one suits you best.

PLCI

Social PLCI

Tax savings
Maximum contribution in 2025

8.17% of your reference income, up to a maximum of €4,000.44.

9.40% of your reference income, up to a maximum of €4,602.71.

Welfare benefits (10% contribution) without medical formalities
In the event of death

Not included

Survivor's pension for your beneficiaries for 10 years

In case of a total inability to work

Not included

A capped allowance and exemption from premiums after the waiting period

In the event of illness

Not included

You receive a lump sum equal to twice your last pension contribution

Maternity benefits

Not included

For each birth, you receive an amount equal to 15% of your pension contribution as well as a cheque for €500.

Extended cover
• In the event of death

Optional

Optional

• In the event of an inability to work

Optional

Optional

Real estate financing

Possibility of borrowing money against your accumulated pension pot and withdrawing part of it early

Possibility of borrowing money against your accumulated pension pot and withdrawing part of it early

Financial peace of mind

To protect yourself better, add optional cover to your PLCI and combine pension, investments and insurance in one contract.

  • Inability-to-work cover

    Protect yourself and your loved ones from the financial consequences of being unable to work due to illness or accident. Choose a monthly income and/or reimbursement of your pension contributions.

    Find out more

  • Death benefit

    Ensure your family's standard of living after your death. Choose between a minimum lump-sum payment and/or additional pension capital in the event of your death.

    Find out more

Are you starting up a business?

Special offer: an extra six months of free banking*

As a business starter, our business banking packs are free for you for the first year. And if you take out a PLCI with an annual premium of at least €1,200 during that period, you get another six months free*!

Discover the other benefits that the Starters Kit has to offer business starters

* Business starters (individuals registered for less than 36 months with the Banque-Carrefour des Entreprises or BCE) who set up a new PLCI plan benefit from an additional six months of free services with an Essential Pro or Flex Pro pack.

Returns, fees and risks

Guaranteed interest rate

The net amount of each premium (after deduction of taxes and front-end fees) is invested until you take retirement or early retirement at the interest rate in force at the time of payment. That interest rate remains valid for the entire duration of the plan.

Variable profit-sharing payments

You may also benefit from annual profit-sharing payments with your PLCI. These are not guaranteed, may vary from year to year and depend on both AG’s financial results and the economic situation.

Returns in detail

The gross overall return (guaranteed interest rate + profit-sharing payment) of AG’s PLCI and social PLCI plans was 2.40% in 2024.

This return does not take into account fees and taxes. It relates to the past and is not a reliable indicator of future returns.

Year Gross overall return
2024 2,40%
2023 2,30%
2022 2,10%
2021 1,80%
2020 1,80%

Contributions and taxation at maturity

Your PLCI or social PLCI will be liquidated on your statutory retirement date or when you take early retirement. When the capital is liquidated, you pay a 3.55% INAMI contribution and a solidarity contribution of up to 2% on the accumulated capital and profit-sharing payments.

In addition, the capital is taxed according to the principle of the fictitious pension. This means that, for 10 or 13 years, you will have to declare a small percentage of the capital in your personal income tax return. The percentage to be declared and how long you have to declare it depend on your age at the time your pension pot is liquidated.

No tax is due on profit-sharing payments.

Beneficiary's age Percentage
60 ans 3,50%
61 - 62 ans 4,00%
63 - 64 ans 4,50%
From the statutory retirement age or after a full career, in accordance with the legislation in force regarding pensions If you have been effectively active until this age: 5% on only 80% of the pension capital

Risk

Insurance-based supplementary pension plans for self-employed individuals are not covered by the protection regime applicable to branch 21 products and are therefore not covered by the Guarantee Fund for Financial Institutions.

Would you like to receive personalised pension advice?

Sustainability

General sustainability policy

To ensure that its products are responsible, AG implements various strategies such as:

  • factoring in environmental, social and governance matters (using ESG risk scores, among others)
  • excluding controversial activities (tobacco, arms, coal, unconventional energy sources such as tar sands and shale gas and oil etc.)
  • excluding companies that do not respect the principles of the United Nations Global Compact
  • using a "best-in-class" approach
  • taking an active ownership approach

This product has environmental and social responsibility characteristics but does not have a sustainable investment objective as such.

You can find more information on AG's approach to investing sustainably and responsibly as applied to its branch 21 products.

The Towards Sustainability label

The PLCI and social PLCI received the "Towards Sustainability" label in March 2020. The label is regularly reassessed and constantly monitored, and is a quality standard supervised by the CLA or Central Labelling Agency. This standard defines a number of minimum requirements that sustainable financial products must meet as regards both their portfolios and investment processes. You will find more information about the label at towardssustainability.be.

The label does not necessarily mean that the PLCI or social PLCI will meet your own sustainability objectives.

Any concerns?

If you have any questions, you can contact your advisor in the first instance or consult Article 21 of the standard banking terms and conditions.

Complaints can be made to BNP Paribas Fortis SA, Complaints Department (JQABD), Montagne du Parc 3, 1000 Brussels (tel. 02 228 72 18, email gestiondesplaintes@bnpparibasfortis.com), or via the online form available on www.bnpparibasfortis.be > Suggestions or complaints > online complaints form.

If you’re not happy with the proposed solution, you can send your complaint by post to the Insurance Ombudsman, Square de Meeûs 35, 1000 Brussels – BCE 884.072.054 – Tel: 02 547 58 71– www.ombudsman-insurance.be.

For you and your staff

  • INAMI/RIZIV plan

    Are you an accredited healthcare provider? If so, you can pay your INAMI/RIZIV payments into an INAMI/RIZIV plan, a branch 21 life insurance policy. The welfare benefits included in the plan protect you against a loss of income.

    Discover the INAMI/RIZIV plan

  • EIP company pension plan

    Are you a self-employed individual running a company? If so, you can combine your PLCI with an EIP, which is a branch 21 or 23 insurance policy. Your company pays the premiums for you and can, under certain conditions, deduct them in full from its taxable income.

    Discover the EIP

  • Are you an employee? Also think about

    As a self-employed business owner, offer your staff an attractive benefit: with a branch 21 or 23 Pension@work group insurance policy, you can contribute to their supplementary pension and enjoy a significant tax benefit. 

    Find out more

Legal information

AG Insurance SA/nv – 53 Boulevard Emile Jacqmain, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0404.494.849 – https://www.aginsurance.be/. Accredited insurance company licenced under code number 0079, under the supervision of the National Bank of Belgium, 14 Boulevard de Berlaimont, B-1000 Brussels.

Intermediary: BNP Paribas Fortis SA/nv – 3 Montagne du Parc, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0403.199.702, registered with the FSMA, 12-14 Rue du Congrès, B-1000 Brussels, under code number 025879 and acting as a contractually appointed insurance agent on behalf of AG Insurance SA/nv. BNP Paribas Fortis SA/nv holds a stake of more than 10% in AG Insurance SA/nv.

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