Long-term pension savings

Returns in detail

The overall return – guaranteed interest rate + profit share – of the insurance-based pension savings plan for 2024 was 2.00%.
Here is a table summarising overall returns for the last five years (technical interest rate + any profit share).
The gross return does not take into account fees and taxes. It relates to past years and is not a reliable indicator of future returns. For policies with an interest rate higher than the gross overall return, the gross return is equal to the guaranteed interest rate.

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.

What are the front-end fees?

You must pay front-end fees of 5% on the net premium paid. These fees decrease by 1% each year in the 5th, 4th, and 3rd year preceding the maturity of your policy. You no longer pay any entry fees on payments made during the last two years preceding the maturity of your policy.

Do you want to redeem your long-term savings?

If you want to redeem your savings before your 60th birthday, you pay 5% of their theoretical redemption value. From your 60th birthday onwards, you don’t pay any fees on redemption. There are also no redemption fees if you cancel your policy within 30 days of it taking effect.

Do you have to pay taxes on long-term savings?

Insurance tax

2% on premiums paid.

Final tax

10% on net premiums capitalised at the guaranteed interest rate of each payment. This tax is levied on your 60th birthday or on the 10th anniversary of your policy if it was taken out after your 55th birthday. All profit-sharing payments are exempt from tax.

Early redemption

A professional withholding tax of 33.31% is levied if you withdraw your pension capital before your 60th birthday.

If the policy was taken out after your 55th birthday and you redeem it early after your 60th birthday, the final tax is 33% if the redemption takes place before the 10th anniversary of the policy and outside the last 5 years of the policy.

Do you have questions about taxation? Contact your branch or an Easy Banking Centre advisor.

Risks of long-term savings

Guarantees

This long-term savings plan for your pension is guaranteed by the Guarantee Fund under the protection regime applicable to branch 21 products. This regime applies in the event of a prolonged default by AG and currently covers a maximum amount of €100,000 per policyholder and per insurance company. If your savings pot exceeds this limit, only the first €100,000 is guaranteed. Savers may therefore potentially lose some or all of the amount exceeding that limit.

Term

Your long-term savings* plan ends on your 65th birthday or after a minimum of 10 years if you take out your policy after your 55th birthday. If you withdraw your pension capital before your 60th birthday, a professional withholding tax of 33.31% will be levied. If you took out the policy after your 55th birthday and you redeem it early after your 60th birthday, the final tax is 33% if the redemption takes place before the 10th anniversary of the policy and outside the last 5 years of the policy. Additional fees may apply if you make an early withdrawal.

Low interest rates

The Pension Invest Plan* offers a guaranteed interest rate and a possible profit-sharing payments. Profit-sharing is not guaranteed and may vary from year to year. It’s determined by the insurer at its discretion. If the profit share were low or even zero in the future, it’s possible that the amount of capital you get back would be lower than the total amount you’ve invested due to taxes, fees and today’s low interest rates. However, that risk is offset by the tax benefit generated by the premiums you pay.

Inflation risk

A rise in inflation leads to lower real returns for all savers and investors. The higher the rate of inflation, the greater the risk of a negative real interest rate (nominal rate adjusted for inflation).

More information

Warning

Investors should read the standard terms and conditions and the financial information sheet carefully before making any investment decision.

• Pension Invest Plan – Standard terms and conditions
• Financial information sheet
• Factsheet on environmental and social characteristics

Unsatisfied?

Any concerns?
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, or via their website (www.ombudsman-insurance.be).

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.