Individual Pension Commitment (IPC)
Pension Plan Pro - Insurer : AXA Belgium
Save for your pension through your company. As a self-employed company director, you can save for an attractive pension plan via the Individual Pension Commitment. The premiums of your pension plan are paid by your company and are fiscally advantageous.
The Individual Pension Commitment (IPC) is an individual contract with which you can build up a supplementary pension through your company.
Under certain conditions, paid premiums are 100% tax deductible as operating expenses for your company. Your total pension accrual (statutory and supplementary pension) may not exceed 80% of your last reference income (= gross annual income).
You can change or adapt the contract at any time.
This is an individual life insurance contract with which you build up additional pension capital through your company. It is for :
- a company located in Belgium
- independent entrepreneurs or self-employed business owners with a formal mandate in the company (director, manager, ...) and who receive a monthly remuneration.
You can build up your pension capital in 3 ways. You choose between :
Secure: you have the choice of a savings insurance with a guaranteed interest rate of currently 1% (valid on August 1, 2020 - can be adjusted annually subject to prior notice), which can possibly be supplemented with a profit share via branch 21.
Invest: you can also opt for investment insurance (branch 23), depending on your risk profile. With this formula you aim for a maximum return but this implies more risk.
A mixed plan combining branch 21 and branch 23. The aim is to ensure that the distribution of deposits and reserves is always in line with your age and risk appetite. For example, when you get closer to retirement, you can ensure that your savings will fluctuate less.
Benefits for your business :
- less tax : under certain conditions, premiums paid are 100% tax deductible.
- package tailored to your needs : you choose the premium amount or you determine the capital you are aiming for and the premiums are calculated accordingly.
- flexible : you can change or adapt the contract at any time.
- cumulative : this contract can be combined with other professional pension plans such as a Free Supplementary Pension for Self-Employed (FSPSE) or group insurance.
The benefits for you, private :
- additional pension capital : you build up additional pension capital ;
- extralegal benefit : under certain conditions, the premiums are paid by the company and are not taxed as benefits of any kind on your private income;
- possibility of an advance payment : an advance payment for private use can be requested on the savings reserve of the "secure" section for the acquisition, construction, embellishment, repair or renovation of a property in the European Economic Area.
The duration of the contract is at least 5 years. It ends when you retire or if you die prematurely. The minimum annual amount is 500 euros.
- an entry fee on premium : max. 6%
- a monthly management fee of 1.50 euros applies for the Secure section (branch 21);
- a management fee is levied on the net asset value of the internal investment funds. It is defined in the management rules of the investment funds of the Invest section (branch 23).
- a combination of the two management fees mentioned above for the mixed section.
Premium tax The premium is subject to a tax of 4.4%. For the disability coverage, the tax is 9.25%.
The IPC is paid out in the event of the insured person's retirement or in the event the insured person is alive on the expiry date (if he/she is not yet retired) or in the event of the insured person's death before retirement. The benefits are settled, at the choice of the beneficiary, either as capital or as an annuity. In the following circumstances, the benefit will not be paid to the affiliate or his/her relatives :
- in the event of death as a result of suicide, if this occurs less than one year after the conclusion of the contract;
- in the event of death as a result of an intentional act on the part of the affiliate;
- in case of death as a direct or indirect consequence of a war between different states or similar facts or civil war;
- in the event of death resulting from a popular movement or insurrection .
Benefit from an advantageous rate If your benefit is paid from the age of 65 and you have remained effectively active until retirement (or if you have a career of at least 45 years), you benefit from a reduced rate. The capital is then taxed at 10% excl. municipal tax and parafiscal deductions (after deduction of the Riziv contribution of 3.55% and solidarity contribution of 0% to 2% on the accrued capital). If you did not remain active until retirement and your career was less than 45 years long, the rate is 16.50%. A notional interest rate applies to the part of the capital that is either pledged for a mortgage loan or has been the subject of an advance payment for the only owner-occupied home.
You can discuss the 2 following optional coverages with your ING banker :
- disability coverage to protect yourself against the consequences of long-term illness, depression, accidents, etc.
- death coverage to protect your family if you die prematurely.
Contact your ING banker to calculate the capital to be insured.
The Individual Pension Commitment is an insurance subject to Belgian law. It is offered to you, subject to acceptance by:
ING Belgium nv, insurance broker, registered with the Belgian Financial Services and Markets Authority (FMSA) under code 0403200393. Company headquarters: Marnixlaan 24, B-1000 Brussels - Brussels Register of Commerce - VAT No. BE 0403.200.393 - www.ing.be - BIC: BBRUBEBB - IBAN: BE45 3109 1560 2789.
AXA Belgium, public limited insurance company authorised under no. 0039 to exercise in the life and non-life branches (KB04-07-1979, BS 14-07-1979) with the National Bank of Belgium located at de Berlaimontlaan 14 in B-1000 Brussels - Headquarters: Troonplein 1 - B-1000 Brussels (Belgium) - Website: www.axa.be (FR) - Tel.: 02 678 61 11 -Fax: 02 678 93 40 - Crossroads Bank for Enterprises (CBE) No.: VAT No. BE 0404.483.367 Brussels Register of Commerce No. 7.06.5833 - 0616.
Please contact us :
- ING Complaint Management, Cours Saint-Michel 60, 1040 Brussels.
- Call +32 2 547 61 01 or
- mail to firstname.lastname@example.org
This complaint will be forwarded to AXA who will handle it.
If the dispute is not resolved in this way, you can contact the bank dispute ombudsman Ombudsfin, North Gate II. Boulevard du Roi Albert II 8,1000 Brussels. Call +32 2 545 77 70 or e-mail email@example.com.