Save for your pension with KBC

Save for your pension with KBC

Starting at just 10 euros a month

With an automatic savings order, it's easy to save for your pension each month

Save 30% in tax each year

For 2017, you're entitled to a tax relief of up to 940 euros

Get started in five easy steps

You can open a pension savings fund using our Mobile app in just a few simple steps

Start to save for your pension

Why you should start saving for your pension

In the short term: annual tax relief of 30%

The maximum amount that can qualify for tax relief in 2017 is 940 euros. The maximum tax break is therefore 282 euros  of what you earn in 2017 (not including the additional impact on local income tax liability). Because this is a tax break, it's naturally only attractive if you pay personal income tax.

Fact: over 500 000 of our clients save for their pension with us.

Look to the future: supplement your state pension

There is a good chance that your state pension may not be enough to maintain your lifestyle once you retire. Starting up a pension savings scheme is an excellent way to build up a supplement on top of your state pension.

The return you could get on your pension savings

Example: say that you start saving for your pension at the age of 25 and deposit 940 euros a year. After 40 years, you'll have built up a total of 37 600 euros. However, at an interest rate of say 1.5% and after a one-off deduction of tax at the age of 60, your actual pension capital could be as high as 44 611.55 euros. All told, therefore, your pension savings will have generated a gain of 18 291.55 euros.1

Your return depends on the set-up you go for.

  • Pension savings fund
    A pension savings fund invests in stocks and bonds and is therefore susceptible to fluctuations on the financial markets. As a result, in the long term, chances are you will achieve a higher return but you nonetheless run a certain risk since the amount of your return and repayment of the capital you invest are exposed to market risk and cannot therefore be guaranteed.
  • Pension savings insurance 
    If you seek a higher degree of security, you're better to go for a pension savings insurance scheme. Each deposit you make earns guaranteed interest, right up until the final date of your contract. In addition, depending on the insurer's results, you may also be paid a profit share, but in this case that is not guaranteed.

The costs when saving for your pension

Every time you pay into your plan, you pay entry charges. If you opt for a pension savings fund, you also pay annual management fees, because the fund invests in stocks and bonds, which need to be actively monitored.

That said, there is a very favourable final tax charge, on top of the attractive tax relief and (potentially) high returns. The tax is generally payable on your 60th birthday. If you start with a tax-advantageous savings scheme after turning 55, the tax charge is due after ten years.

Note, however, that tax treatment will depend on your individual circumstances and can change in the future. For further details (including on the final tax charge), please see your local KBC branch or agency. 

 

Starting to save for your pension has never been easier

1 Open the KBC Mobile app and go and go to 'Savings' (beside the piggy bank icon at the bottom of your screen) and then tap 'Tax-efficient savings and investment'.
2 Tap the plus symbol for ‘New tax-efficient product’ first and then ‘Pricos’.
3 Get the relevant details of the pension savings fund you're buying into and read them carefully before tapping 'Open'.
4 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.
5 Check your application details you're then shown, tap on to see details of the pension savings fund and read them carefully, confirm, sign...and you're done!

Need help? There's always someone on hand to point you in the right direction. Make an appointment.

Starting to save for your pension has never been easier

1 Open the KBC Mobile app and go and go to 'Savings' (beside the piggy bank icon at the bottom of your screen) and then tap 'Tax-efficient savings and investment'.
2 Tap the plus symbol for ‘New tax-efficient product’ first and then ‘Pricos’.
3 Get the relevant details of the pension savings fund you're buying into and read them carefully before tapping 'Open'.
4 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.
5 Check your application details you're then shown, tap on to see details of the pension savings fund and read them carefully, confirm, sign...and you're done!

Need help when investing, regardless of the amount? There's always someone on hand to point you in the right direction. Make an appointment.

1 This simulation is for illustrative purposes only and provides no guarantee whatsoever of future returns. The maximum tax-deductible amount for pension saving schemes in 2016 is 940 euros.

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Getting started with pension savings

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.

Saving for your pension

Saving for your pension

Aim for long-term growth and lay the foundations for topping up your pension pot

Always nearby

Always nearby

At your branch or online? Face-to-face or fully digital? Bank how and when it suits you best

Everything you need to know about saving for your pension

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.