Ever thought about saving for retirement? It could get you a tidy tax break every year.
KBC Mobile lets you start saving for your pension right from your phone. Don’t have our Mobile app yet? Get it now.
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How much should you save?
See how much you can put aside each month. With us, you can save from 10 euros a month for your retirement.
Set up a standing order to save for your pension if you wish, indicating for how much, when it is to be paid and from which account. That way, you can easily reach from 990 euros up to 1,270 euros (depending on your savings plan) to qualify for the full tax break.
How do you get tax relief?
Next year, you’ll get a 30% or 25% tax break on what you’ve paid in (depending on the maximum tax-deductible amount that you’ve chosen to save).
How do you check how much you’ve already saved?
KBC Mobile gives you a handy overview of your pension savings account. It lets you see at a glance how much you still have to pay in to reach the annual maximum for getting full tax relief.
How to submit the maximum tax-deductible amount you want to go for?
- Log in to KBC Mobile.
- Tap 'Investments' in the bottom menu, followed by ‘Tax-advantaged savings & investments’. Tap your pension savings account.
- Tap the info bubble next to ‘Your current maximum tax-qualifying amount in 2020’ to see more information on the two caps for pension savings in 2020: 990 euros or 1,270 euros.
- Return to the previous screen and tap the blue button.
- Select the maximum tax-deductible amount you want to save in 2020 and tap 'Continue'.
- An information screen will appear explaining the product features. Read through this information and then tick the box to confirm that you've read the product information and tap 'Continue'.
- Select the amount that you want to pay in and tap 'Sign' to confirm your deposit. You’ll then see a confirmation page stating that your deposit has been made.
If you've opted for the 1,270 euros cap, you'll need to deposit the amount required to reach the cap in one go using KBC Mobile. That way you can be sure to get the most tax relief.
You've been saving 80 euros per month for your pension by standing order (or 990 euros annualised). By October, you'll have saved 800 euros. You still have time to pay in an additonal 460 euros to top up to 1,270 euros for the full tax break.