You can now choose between two maximum tax-deductible amounts: 980 euros or 1,260 euros. The maximum
amount is 980 euros by default, with
30%* tax relief. That gives you a
tax credit of up to 294 euros.
If you want to save more than that, you can opt specifically
for 1,260 euros as your cap for tax purposes.
You'll qualify for 25%* tax relief
with a tax credit of up to
315 euros on what you save in
2019.
Please note: in 2019,
you can make additional payments until 4:59 p.m. on 31 December.
Which cap to go for?
Both caps have their advantages. If you'd like to save more, then the
higher cap is the right option for you. If your cap is set at
980 euros, you'll get a higher percentage of tax
relief.
Then you don't need to do anything. 980 euros is your cap by default.
You're already saving for your retirement at KBC Brussels
You have a pension savings account at KBC Brussels
Notify us of your choice to save the higher maximum
amount of 1,260 euros in on of 3 ways:
- In KBC Brussels Mobile (follow the step-by-step instructions below)
- Via KBC Brussels Live
- At your KBC Brussels branch
Once you've made your choice, you can pay the remaining amount in
one go in KBC Brussels Mobile, KBC Brussels Touch or
KBC Brussels Invest*. You'll then be sure to obtain the most tax
relief.
* In 2019, you can make additional
payments until 4:59 p.m. on 31 December.
You have a pension savings insurance plan at
KBC Brussels
Be sure to do the following:
- First submit your decision at your KBC Brussels branch, your KBC Brussels Insurance agency or via KBC Brussels Live to go for the higher figure of 1,260 euros.
- Then start saving up to your maximum amount using KBC Brussels Mobile, KBC Brussels Touch or KBC Brussels Invest.
You're not saving for your retirement at KBC Brussels
Open a pension savings account
You can simply open a pension
savings account with the default cap of
980 euros.
If you use
KBC Brussels Mobile, then you can easily open
a pension savings account with your smartphone and then submit your choice for
1,260 euros using the step-by-step instructions
below.
If you don't use KBC Brussels Mobile, make
an appointment online at your KBC Brussels branch or contact
KBC Brussels Live to submit your choice.
Once you've made your choice, you can pay the remaining
amount in one go in KBC Brussels Mobile, KBC Brussels Touch
or KBC Brussels Invest. You'll then be sure to obtain the most tax
relief.
* In 2019, you can make additional
payments until 4:59 p.m. on 31 December.
Take out a pension savings insurance plan
If you prefer a pension savings insurance plan at KBC Brussels, be sure to do the following:
- First contact your KBC Brussels branch, your KBC Brussels Insurance agent or KBC Brussels Live to take out a new pension savings insurance plan and to submit your decision to go for the higher figure of 1,260 euros.
- Then start saving up to your maximum amount using KBC Brussels Mobile, KBC Brussels Touch or KBC Brussels Invest.
How to choose your maximum amount in KBC Brussels Mobile
- Log in to KBC Brussels Mobile.
- Tap
'Investments' in the bottom menu, followed by ‘Tax-advantaged
savings & investments’. Tap your pension savings account.
- Tap the information ball next to ‘Your current
maximum tax-qualifying amount in 2019’. You will then see
a screen with more information about the two caps for pension saving
in 2019: 980 euros or
1,260 euros.
- Return to the
previous screen and tap the blue button.
- Select the tax-deductible cap* you want to save in
2019 and tap 'Next'.
- An information
screen will appear explaining the product features. Read through
this information and then tick the ‘I've read the product
information' box. Tap ‘Next’.
- Select the amount that you want to deposit additionally and tap 'Sign' to confirm your deposit. You’ll then see a confirmation page stating that your deposit has been carried out.
Please note:
If you've opted for the 1,260 euros cap,
you'll need to deposit the amount required to reach the cap in one go
via KBC Brussels Mobile. Then you'll be sure to obtain the most
tax relief.
Example: you've been depositing 80
euros per month to your pension savings account via standing order (or
980 euros annualised). By October, you'll have
saved 800 euros. At that moment, you can still go for the
1,260 euros cap and deposit an additional 430 euros
in one go to make up the difference.
What you need to know if you opt for 1,260 euros
Be sure to save more than 1 152 euros
You'll only be able to benefit from greater tax relief
if you save more than 1 152 euros. If you end up saving only 1 100
euros, for instance, you'll obtain a tax credit of just 275 euros
(25%), whereas you'd have received
294 euros
(30%) at the lower cap of
980 euros.
You save more and pay a higher final tax charge
If you deposit 1,260 euros every year for pension-saving purposes, then you should in principle come to a higher amount at the end, which means a higher final tax charge.
Each year, you'll need to submit your choice again
Each year, you'll need to decide on which cap you'll apply that
year. If you opt for 1,260 euros in 2019,
the lower (default) cap will apply next year, unless you specifically
elect the higher cap again.
To learn more about saving
for your pension, go to ‘Everything
you need to know about pension saving at KBC Brussels’.
When can you start saving for your pension?
Begin saving for retirement
- Start from 10 euros a month
- Save up to 30% in tax each year
- Open a Pension Savings Account on the go
Begin saving for retirement
* The tax treatment will depend on your individual circumstances and may change in the future.