What about building up an additional pension under the ‘long-term
saving’ tax system? This offers you tax relief of up to 30% on
the amounts you pay in (depending on your income and your personal situation).
What's more, you can combine this relief with the tax
reduction offered by pension-saving, and in some cases even
with the ‘housing bonus’ for your mortgage loan. If, for
instance, you have not reached the maximum tax-deductible amount with
the repayments on your mortgage loan, you can supplement this with
long-term saving, giving you an even bigger tax benefit.
Have you already paid off your mortgage loan? This might be an
ideal moment to start long-term saving, seeing that you now
have a little to spare in your budget.
The maximum amount you can deduct each year depends on the level of
your professional income or your pension. The maximum deductible
amount per year for 2019 is 2,350 euros.
If you’re still liable for tax during retirement, it’s advisable
to start long-term saving before the year in which you turn 65. That
way, you will continue to enjoy attractive tax relief for many more
years, even after retirement.
Do you already have a long-term saving plan somewhere else? If so,
contact us to see whether it would be worth your while transferring to KBC Brussels.