FAQs about pension saving at KBC

Pricos, Pricos Defensive or KBC Home & Pension Plan

FAQs about pension saving at KBC

Pricos, Pricos Defensive or KBC Home & Pension Plan

1 Where can I find information about my state retirement pension?

You will find full information about your individual state retirement pension at the Federal Pensions Service website www.mypension.be. Since 2015, both employees and self-employed workers can find information about their pension over their full career on the website. Log on using your e-ID or token from the government and view your personal pension calculation.

2 How do I pay into my pension savings, and how much can I save each year?

The annual amount of pension savings qualifying for tax relief is capped. In 2021, there are two maximum amounts for tax purposes: 990 euros and 1,270 euros. If you opt for 1,270 euros, you have to tell the bank that that’s what you want to do. Read everything you need to know about pension saving in 2021 here.

Top up your pension savings plan

Paying into Pricos or Pricos Defensive

Pricos and Pricos Defensive are both pension savings funds1. By spreading your payments (e.g. monthly) you will be buying at both higher and lower prices. Monthly payments also make it easier to balance your budget.

You can put from as little as 10 euros a month into your Pricos or Pricos Defensive pension savings fund using an automatic savings order, which can be set up when you take out your pension savings product. If you already have a contract, you should make an appointment with your branch.

Make additional one-off payments yourself in KBC Touch.

Paying into KBC Home & Pension Plan

KBC Home & Pension Plan is a pension savings insurance plan2. Deposits can start from as little as 10 euros a month.

If you need to make any changes to your contract, make an appointment in your branch or contact your KBC insurance agent or KBC Live.

3 How much are my pension savings currently worth?

A. Investment fund¹

Pricos and Pricos Defensive
These pension savings funds invest predominantly in shares and bonds. Pricos holds more shares than bonds in portfolio. By contrast, Pricos Defensive has more bonds than shares in portfolio.

The value (price) of the pension savings fund depends among other things on the performance of the underlying shares and bonds in which the fund invests. You can find the most recent price in the Fund Finder.

You can find the present accrued value of your own pension savings pot in KBC Touch or by clicking on the Savings & Investment tab under the Menu button.

B. Guaranteed-interest life insurance (Class 21)³

KBC Home & Pension Plan

KBC Home & Pension Plan is a pension savings insurance plan offering a guaranteed interest rate, referred to as a ‘Class 21 life-insurance’. If the interest rate changes, the new guaranteed rate only applies to deposits made after that date.

You can find the most recent value of your KBC Home & Pension Plan in KBC Touch by clicking on the Savings & Investment tab under the Menu button.

4 What do I have to do to get tax relief on what I pay in?

Amounts you pay into your pension savings plan qualify for tax relief 3 tot 30%. of up to 30%. Each spring, KBC will send you a ‘281.60 certificate’ showing what you paid in over the previous calendar year. This is the amount you report in your tax return.

5 Do I have to save every year?

You do not have to pay into your pension savings every year. If you can’t pay into your savings one year, no problem; simply carry on saving again the next year.

However, be careful when you approach your 55th birthday. Since the final tax for your pension savings account is usually deducted in the year you turn 60, you are advised to increase the amount you save annually to the maximum (990 euros or 990 euros for 2021) by no later than the year you turn 54. This ensures that the best moment for deducting this tax is not postponed until later. Plus, you are automatically included in any future indexation and you qualify for the maximum amount of tax relief.

6 Who is eligible for tax relief?

Every person aged between 18 and 65 years who pays tax in Belgium is eligible for the tax relief.

A person who did not have to pay any tax in one or more years will not be entitled to tax relief for pension savings in those years. This is often the case for people with a very low income or a replacement income.

7 I already have a pension savings plan elsewhere. Can I also pay into a pension savings plan with KBC?

2 Options

  • You can either leave your current pension savings with the other financial institution or insurance company and start a new contract with KBC.
  • Or you can transfer your pension savings to KBC. Transferring your current pension savings fund to another pension savings fund or from a pension savings insurance plan to another pension savings insurance plan is free of tax provided the full amount is transferred.


  • If you have a pension savings fund with another financial institution, you could transfer all your savings there to a pension savings fund with KBC. In that case, the savings balances are reinvested in the pension savings fund chosen by you (PricosPricos Defensive or Pricos SRI). We don’t charge you entry charges for pension savings you transfer to a scheme with us. Entry charges only apply to new deposits you make.
  • If you have a pension savings insurance plan with another company, you can transfer the full amount accrued in your plan free of charge to KBC Home & Pension Plan.
  • You can only open one pension savings account or take out one pension savings insurance plan per calendar year. If you already have a contract taken out in previous years, you can also start a new one. Bear in mind that your tax return can only include deposits you make into one pension savings account or pension savings insurance plan.
  • Switching from a pension savings fund to a pension savings insurance plan or vice versa is treated as ending your pension savings plan early and is heavily taxed. It is better in that case to leave your current pension savings with your present company and to start a new pension savings contract with KBC.

8 Can I have more than one pension savings account?

You can have several pension savings accounts or pension savings insurance plans with different companies, but you can only open one plan per calendar year.

You can only include the payments made into one pension savings account or pension savings insurance plan in your tax return in each calendar year. If you have paid into more than one pension savings fund or pension savings insurance plan, you can choose which payment(s) you include in your tax return.

9 Can I still receive pension savings tax relief for amounts I paid in after deduction of the final tax?

Yes. Once the final tax has been deducted in a lump sum at the age of 60, you can carry on saving until the year in which you turn 64. You will still receive annual tax relief on those payments, but you will no longer pay a final tax.

10 What happens to my savings if I die?

Investment fund¹

With Pricos and Pricos Defensive, the pension savings account will be liquidated. Once the estate has been settled, the net capital (after deduction of the final tax) will be paid out to the heirs.

Guaranteed-interest life insurance (Class 21)²

With the KBC Home & Pension Plan , the amount will be paid to the beneficiary of the contract, who will also pay the final tax.

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1 A pension savings fund is an investment fund or fund: the common name for an undertaking for collective investment or UCI (which may or may not have a legal personality) that collectively gathers savings deposits and jointly manages them. Investors invest directly in a diversified portfolio. Undertaking for collective investment is actually the umbrella term for investment funds, regardless of their legal status. Depending on their legal status, a distinction is made between UCIs with a contractual structure (investment funds) and UCIs with a separate legal personality (investment companies). A fund makes investing easy for investors. It is managed by specialists who track the market and take care of all the administrative aspects like collecting interest and dividends. 
2 Guaranteed-interest life insurance (Class 21) is the collective name for a group of life insurance products for which the insurance company offers a guaranteed return.
3The tax treatment will depend on your individual circumstances and may change in the future.

Why you should start saving for your pension

Your state pension is less than your final salary. By choosing to save, you'll build up a reserve and get up to 30% tax relief.

How are my pension savings taxed?

When you turn 60, or 10 years after starting to save for your pension, you pay a one-off favourable-rate final tax.

Everything you need to know about saving for your pension

Been saving for your retirement for some time now but still have queries or want to know more? Get answers to your questions.

Getting started with pension savings

As soon as you start work and are 18 or over, you can start saving for your pension. And that's a very good idea, too, because starting early has lots of benefits.