Pension Agreement for the Self-Employed (PASE)
Pension Plan Pro. Insurer : AXA Belgium.
Before July 1, 2018, as an independent natural person it was only possible to build up pension capital via the Free Supplementary Pension for the Self-Employed (FSPSE). Since then, the self-employed person without a company and his/her assisting spouse or helper has the possibility to save for a higher pension thanks to the Pension Agreement for Self-employed Persons (PASE). This solution offers tax advantages as well as protection for the insured and his/her family.
The deposits benefit from a tax reduction of 30%, as long as the 80% rule is respected. Your total accrued pension (state pension and supplementary pension) may not exceed 80% of your income. This amount is calculated annually in proportion to your average reference income over the last three years. For more information, contact your ING banker for professionals.
The final capital will be taxed at an advantageous rate of 10% excl. municipal tax (after deduction of the Riziv/Inami contribution of 3.55% and solidarity contribution of 0% to 2% on the accrued capital) if the payment is made on retirement or death. If the payment is made at a different time, there is a tax of 33%.
Combine with FSPSE
A PASE contract can be cumulated with a Free Supplementary Pension for the Self-employed (FSPSE).
With the FSPSE alone, you may be able to build up a nice capital, although unfortunately that capital is limited by a maximum number of annual deposits. Do you have the possibility to save more for your pension ? Then the Pension Agreement for the Self-Employed (PASE) may offer a tax-friendly solution by increasing your supplementary (and therefore your total) pension. In this way you will already have a comfortable old age! This only applies to self-employed workers, assisting spouses or self-employed helpers without a company.
For the self-employed with a company, there is already a solution: the Individual Pension Commitment (IPC).
You choose how you save:
- Secure : you have the choice of a savings insurance with a guaranteed interest rate of currently 1% (valid on November 1, 2020 - may be adjusted annually subject to prior notice) via branch 21, which can be supplemented by a profit sharing.
- Invest : you can also opt for investment insurance via 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 (savings insurance) and branch 23 (investment insurance). In this way, deposits and reserves are optimally distributed taking into account your age and appetite for risk. For example, when you get closer to retirement, you can ensure that your accrued capital will fluctuate less.
The duration of the contract is a at least 5 years. It ends when you retire.
The minimal annual amount is 500 euros.
- Entry fee on premium: max. 6%
- Other costs :
- a monthly management fee of 2 euro applies for the Secure section (branch 21);
- a management fee is levied on the net asset value of the internal investment funds. It is determined 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 : a tax of 4,4% is owed on each premium payment
Payment is made in the event of the insured's retirement, in the end date of his/her career (if the insured has not yet retired) or in the event of the insured's death before retirement.
The payment is not due in the following circumstances :
- in the case of suicide less than a year after the conclusion of the contract,
- in the event of a death resulting from the intentional act of the insured,
- in the event of a death resulting directly or indirectly from a war between several countries or similar acts or civil war,
- when the death of the insured is a consequence of a war that broke out during his stay abroad,
- in the event of a death resulting from a popular movement or insurrection.
- disability coverage to protect yourself against the consequences of long-term illness, depression, accident, ...
- death coverage to protect your family if you die prematurely.
Under certain conditions, you can request an advance on the branch 21 savings reserve for real estate projects (e.g. purchase of a house, apartment or building land).
Please contact :
- ING Complaint Management by post to Cours Saint-Michel / Sint-Michielswarande 60, 1040 Brussels,
- call +32 2 547 61 02 or
- via e-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 Ombudsman for bank disputes Ombudsfin, North Gate II. Boulevard du Roi Albert II 8,1000 Brussels. Call +32 2 545 77 70 or e-mail email@example.com – www.ombudsman-insurance.be.
About the insurance policies and conflicts of interest : you can find general information about the insurance policies and a description of the conflict of interest policy, including the benefits: