You can choose between two maximum tax-deductible amounts under a pension savings scheme in 2019, i.e.:
The maximum figure is 980 euros by default. If
you want to save more than that, you can opt specifically for
1,260 euros* as your maximum.
*
Each year, you must decide on which arrangement to use. If you opted
for 1 230 euros in 2018, the lower maximum figure of
980 euros will apply as standard in
2019 (unless you explicitly opt for the higher figure of 1,260 euros).
Then you don't need to do anything. 980 euros is your cap by default.
Open a pension savings account
You can simply open a pension
savings account with the default cap of 980 euros.
Take out a pension savings insurance plan
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.
Good to know: the amounts are debited automatically each month from your chosen account, enabling you to save the entire maximum amount over the year. However, if you wish, you can also deposit the maximum amount in one go with KBC Brussels Mobile, KBC Brussels Touch or KBC Brussels Invest.
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:
You can also pay up to the higher maximum amount via
KBC Brussels Mobile, KBC Brussels Touch and KBC Brussels Invest.
If you make your choice via KBC Brussels Mobile, you must
immediately pay the full remaining amount.
You have a pension savings insurance plan at KBC Brussels
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.
Good to know: the amounts are debited automatically each month from your chosen account, enabling you to save the entire maximum amount over the year. However, if you wish, you can also deposit the maximum amount in one go with KBC Brussels Mobile, KBC Brussels Touch or KBC Brussels Invest.
Open a pension savings account
You can simply open a pension
savings account with the default cap of 980 euros.
Take out a pension savings insurance plan
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.
Good to know: the amounts are debited automatically each month from your chosen account, enabling you to save the entire maximum amount over the year. However, if you wish, you can also deposit the maximum amount in one go with KBC Brussels Mobile, KBC Brussels Touch or KBC Brussels Invest.
Please note: If you've opted for the
1,260 euros cap, the only way you can deposit the
amount (and that must be in one go) is in KBC Mobile.
Example: you've been depositing 81,67 euros per month to your
pension savings account via standing order (or
980 euros annualised). By October, you'll have
saved 816,7 euros. At that moment, you can still go for the
1,260 euros cap and deposit an additional 443,3
euros in one go to make up the difference.
1. Be sure to save more than 1 177 euros
You'll only be able to benefit from greater tax relief
if you save more than 1 177 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.
2. 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.
3. Each year, you'll need to submit your choice again
Each year, you must decide on which arrangement to use. If you opted
for 1 230 euros in 2018, the lower maximum figure of
980 euros will apply as standard in 2019
(unless you explicitly opt for the higher figure of
1,260 euros).
To learn more about
saving for your pension, go to ‘Everything
you need to know about pension saving at KBC Brussels’.
* The tax treatment will depend on your individual circumstances and may change in the future.
