VSPSS (Voluntary Supplementary Pension Scheme for the Self-Employed) in a secondary occupation
2 out of 3 self-employed people choose a VSPSS to supplement their retirement income and save on taxes
- Pay less tax and social security contributions
- Build a bigger pension pot for later life
- Benefit from a guaranteed return
What is a VSPSS?
A VSPSS is a tax-smart way to build up additional pension income through your self-employed activity. It makes it easier for you to maintain your standard of living later, while paying less in taxes and social security contributions now.
As of 2026, self-employed people in a secondary occupation can also join a Voluntary Supplementary Pension Scheme for the Self-Employed (VSPSS). Opting for the KBC Life Pension Plan – VSPSS provides you with a safe way to build up capital with a guaranteed rate of return and the possibility to benefit from a variable profit share.
You can perfectly combine a VSPSS with other forms of pension accrual. If, as an employee, you also receive a supplementary pension through your employer, that will continue as normal. Moreover, you can combine this savings variant for the self-employed with conventional pension saving, enabling you to accumulate capital through both schemes and increase your tax relief.
Benefits for the self-employed in a secondary occupation
Lower social security contributions and taxes
- The contributions paid are fully deductible as a business expense. Each year, you can pay up to approximately 8.5% of your income from three years previously into your VSPSS (for start-up businesses, the estimated income for the current year is used), so you end up paying less tax.
- Your taxable income is reduced, as a result of which your social security contributions are lower too.
- A limited charge for national health and disability insurance (3.55%) and a solidarity contribution (max. 2%) are deducted from the capital paid out. The portion of capital accumulated by way of profit sharing is exempt from tax. The rest is taxed as notional interest over several years.
- You do not pay any tax on the contributions you pay into the VSPSS.
Automatically maximise tax relief
To make sure you get the maximum amount of tax relief possible, select ‘Maximum tax relief based on your income’ – instead of a fixed amount – at the time you take out your contract. We’ll then automatically adjust your VSPSS contribution based on your income details we receive from the government each year.
A safe product offering a guaranteed return
Every contribution you pay in generates a guaranteed return until you reach retirement. When added together, the total figure constitutes your final pension capital. If you take out a KBC Life Pension Plan – VSPSS today, the interest earned is currently 2.0% for all amounts paid in and is guaranteed until the contract ends. Depending on KBC Insurance's results, this income may be supplemented each year by a non-guaranteed profit share.
The final return may vary due to your personal tax situation, possible changes in legislation and non guaranteed profit sharing.
Features of a KBC Life Pension Plan – VSPSS
| Legal form | Guaranteed-rate life insurance (Class 21) |
| VSPSS benefit | Upon statutory retirement or in the event of premature death before retirement |
| Tax relief on VSPSS contributions | Annual tax deductible figure of up to 8.5% of the indexed net taxable earned income from three years previously |
Information about sustainability
This product promotes environmental and social characteristics, but does not explicitly have sustainable investment as an objective. We strive to reduce any detrimental impact on the environment or society by pursuing responsible investing policies. More information in this regard can be found in our product fact sheet.
Interested?
Like to know how a Voluntary Supplementary Pension Scheme for the Self-Employed in a secondary occupation can improve your pension accrual and reduce your tax burden? Get in touch with us and we’ll be happy to provide you with more information during a no-obligation meeting.
