Retirement without worries
Your state pension may not always be sufficient to maintain your standard of living. In most cases, the state pension is significantly less than your final salary. A supplementary pension financed by your employer can offset part of your loss of income.
Luckily, you can also take matters into your own hands.
By combining pension savings with a tax break through a product from the BNP Paribas B Pension range or Pension Invest Plan, you can build up a sizeable capital sum. You can also top this up through a long-term savings product; the Pension Invest Plan can help you here too. Finally, you can also increase your pension pot by making investments without a tax break. Planning for Pension is the ideal package for this.
Voluntary Supplementary Pension Scheme for the Self-Employed (PCLI/VAPZ)
|The premium may not exceed 8.17% of the professional income used to calculate the social security contributions in the relevant year (Y), or the net taxable index-linked professional income for Y-3 with an absolute maximum of (in 2012) EUR 2,962.88.|
|You will benefit from a tax break of up to 53.50%, depending on your income, and a reduction in your future social security contributions of up to 20%.|
Under current tax legislation, you will make a one-off, definitive tax payment at the age of 60.
This is calculated on the net savings (excluding subscription charges) capitalised at 4.75% a year (6.25% for net savings made up to 1991).
You can choose between straightforward capital-building and a combination with insurance guaranteeing you a minimum capital in the event of death.
Check your pension savings here.
If you already have a Voluntary Supplementary Pension Scheme for the Self-Employed you can check here whether it is still appropriate to your situation.
For all the details, calculations and simulations, contact your nearest BNP Paribas Fortis branch or phone our specialists on 02 433 43 32 (FR) or 02 433 43 31 (NL).
Pension savings with the BNP Paribas B Pension product range or Pension Invest Plan
|EUR 940 (tax year 2014, income earned in 2015) per taxpayer in order to benefit from the maximum tax break. If you have no tax to pay, there is no tax break for pension savings.|
- You will have a tax gain of 30%. You can raise this benefit further by means of municipal tax.
- What if you invest the maximum amount of EUR 940 (income earned in 2014, tax payable in 2015)? This equates to a tax break of EUR 282.
In the case of contracts entered into since 1993 and before the age of 55, there will be a one-time tax deduction of 10% of the accrued capital at the age of 60. You can continue to pay into the contract and to enjoy the tax break after this one-time deduction. It will be granted to you for the final time in the year in which you reach the age of 64.
You can choose between an investment fund (there are three investment strategies available) and a pension insurance policy.
BNP Paribas B Pension Stability, BNP Paribas B Pension Balanced and BNP Paribas B Pension Growth are Belgian euro-denominated pension savings funds.
Each fund offers a different mix of equities and bonds: more bonds in “Stability”; more equities in “Growth”. The "Balanced" fund has bonds and equities in equal proportion.
If you are approaching retirement age, you can switch to a pension fund with a more cautious investment strategy free of charge.
Pension Invest Plan enables you to gradually build up sizeable pension capital. Unlike an investment fund, you know the minimum return on your savings from the outset.
Each premium is invested at an attractive rate known in advance and applying when the savings are paid in. This means that each sum paid in guarantees, in a sense, part of the final capital. The sum of these parts constitutes the capital that will be paid to you when your Pension Invest Plan pension insurance policy matures. This capital may possibly be topped up with an annual with-profits bonus.
Long-term savings with Pension Invest Plan
|Up to EUR 2,260 (income earned in 2014, tax payable in 2015) per taxpayer, depending on your professional income, in order to benefit from the maximum tax break.|
You will have a tax gain of 30%. You can raise this benefit further by means of municipal tax.
This equates to a tax break up to EUR 4520 (income earned in 2014, tax payable in 2015) for a family household .
|Under current tax legislation, you only pay a flat-rate tax of 10% on the sum invested that exempts the balance from tax in the future. In principle, you pay it when you reach the age of 60.|
With respect to long-term savings, you could opt for Pension Invest Plan investment insurance. An additional advantage
is that you can incorporate death cover
in favour of your spouse or children.
With Pension Invest Plan, you know exactly what the minimum return will be on your pension savings.
Each premium is invested at an attractive rate known in advance and applying when the savings are paid in. This means that each sum paid in guarantees, in a sense, part of the final capital. The sum of these parts constitutes the capital that will be paid to you when your Pension Invest Plan pension insurance policy matures. This capital may possibly be topped up with annual with-profits bonuses.
Voluntary savings with Planning for Pension
Do you reckon it would be a good idea to add to your pension pot by making investments that don't benefit from tax breaks? You are quite right. In which case, Planning for Pension, a life insurance product by AG Insurance, is our most advantageous package. However, you will need to bear in mind your investment horizon, the period in which you can continue to invest:
- Retirement some way off? Relatively long investment horizon? In that case, you can opt for riskier investments with the potential for a higher return.
- Retirement approaching and investment horizon getting shorter? In that case, more conservative investments are called for.
Planning for Pension takes care of these transfers for you.
At present, Planning for Pension is the only structured savings or investment package designed specifically for building up pension savings that combines security with a potentially higher return. A safe and flexible medium- to long-term solution. Planning for Pension allows for your personal approach to risk and return.
|There is no ceiling.|
|There are no tax breaks for investing in Planning for Pension. On the other hand, you are not taxed on the sum paid out on the set maturity date.|
|Planning for Pension has a flexible maturity date which can be set, at your discretion, between your 50th and 80th birthdaies. |
There is just one condition: to be able to benefit from the exemption from withholding tax, the minimum term is 8 years and 1 month.
Planning for Pension is available for as little as EUR 30 a month or EUR 360 a year.
Prefer to make a one-off payment? A minimum of EUR 2,500 is sufficient.
Had a windfall? You can make an additional contribution from as little as EUR 1,500.
What is more important to you? Choose the proportion of capital to be guaranteed, that is to say the percentage of your capital that it is crucial you receive on maturity:
- Want full capital protection? Opt for 100%.
- Want to invest a larger proportion in the side of the package that offers the prospect of a higher return? Opt for less than 100%.
- Want to be sure of a minimum return on maturity? Opt for over 100%.
For all the details, calculations and simulations, contact your nearest BNP Paribas Fortis branch or phone our specialists on the number 02 433 43 32 (FR) or 02 433 43 31 (NL).