Pension saving for the self-employed

Pay less tax, build up more pension income

Pension saving for the self-employed

Pay less tax, build up more pension income

Premiums for (social) VSPSS remain tax deductible in 2024.
You can still deduct the premiums for your standard or social voluntary supplementary pension scheme for the self-employed (VSPSS) from your taxes this year, even if you had to take a social security payment holiday for one or more quarters due to the coronavirus crisis.

The self-employed receive an average statutory pension of 911 euros a month, which is significantly lower than that of private sector employees. Self-employed individuals pay less in social security contributions during their career, which is a key factor in determining the statutory pension.

If you want to maintain your current standard of living, it is in your best interest to start saving for a supplementary pension. And who doesn’t want to maximise tax relief while building up their pension pot?

Taking advantage of tax relief

Whether you’re a business owner or self-employed, it would be a shame not to benefit from tax relief.
And you can enjoy more than one form of saving to supplement your pension.

Check out the options below and combine different types of pension savings schemes for maximum tax relief!

Select what applies to you:

VSPSS or social VSPSS

o Save up to 9.4% of your net taxable earned income
o Get up to 63% in tax relief
o Receive a guaranteed return (potentially supplemented with a variable, non-guaranteed profit share)
o Use your reserve before the contract ends to fund a real estate project (private or professional)
o Get 21% off your Guaranteed Income insurance

          Find out everything you need to know about VSPSS and Social VSPSS

Individual pension saving

o Pension saving for private individuals (such as salaried employees)
o Start saving from as little as 10 euros a month
o Go for a pension savings fund or pension savings insurance
o Get tax relief of up to 315 euros

          Find out everything you need to know about individual pension saving

Pension Agreement for the Self-employed (SPPA)

o Receive a guaranteed return and variable profit share
o Get tax relief of 30% on your contributions (remember that the ‘80% rule’ applies)
o Pay final tax at a favourable rate

          Find out everything you need to know about SPPA
                    

VSPSS or social VSPSS

o Save up to 9.4% of your net taxable earned income
o Get up to 63% in tax relief
o Receive a guaranteed return (potentially supplemented with a variable, non-guaranteed profit share)
o Use your reserve before the contract ends to fund a real estate project (private or professional)
o Get 21% off your Guaranteed Income insurance

          Find out everything you need to know about VSPSS and Social VSPSS

Individual Pension Scheme (IPS):

o Your company saves the contributions for you as manager of the company
o Get up to 30% in tax relief (contributions are tax-deductible as a business expense for your company)
o Use your reserve before the contract ends to fund a real estate project (private or professional)

          Find out everything you need to know about IPS

Individual pension saving

o Pension saving for private individuals (such as salaried employees)
o Start saving from as little as 10 euros a month
o Go for a pension savings fund or pension savings insurance
o Get tax relief of up to 315 euros

          Find out everything you need to know about individual pension saving

                    

More tax relief now, a bigger reserve later

Discover all the benefits of saving under a supplementary pension scheme. You pay less tax, because the business expenses you run up are tax-deductible. But there’s more:
- You also qualify for a discount on your social security contributions;
- And you can take an advance on your accrued reserve to purchase or renovate real estate.
Now that’s certainly worth considering!

If you’re having difficulty choosing, we’re here to help!

Would you prefer to receive advice that's tailored to your needs?

Make an appointment with your KBC Insurance Agent