Saving for your pension

When you save for your pension, you can potentially benefit from a tax reduction. Find out the various options and choose what suits you best:

Pension savings means taking care of your future and enjoying possible tax advantages. When you save for your pension, you decide for yourself how much you pay and when. Please note that the maximum possible tax reduction depends on how much you plan to save per year.

  • If you save up to 980 euros per year, you will enjoy a tax advantage worth 30% of that amount. So if you save 980 euros, your tax advantage will be 294 euros. 
  • If you want to save more – up to 1,260 euros – the tax advantage is 25%. So if you save 1,260 euros, your tax advantage will be 315 euros.

These figures are for the 2019 tax income year (fiscal year 2020). The tax regime applies to anon-professional customer having his fiscal residing in Belgium. Taxation depends on your individual situation and may change in the future.

If you want to save for retirement, you can choose between: 

Pension savings fund

A pension savings fund is a mutual investment fund whereby the money you save is invested for the long term in shares, bonds and cash.

Its value can rise but also fall, therefore the risk is greater than with a pension savings insurance plan.

Over the long term, a pension savings fund usually generates a higher return, but this is not guaranteed. A pension savings fund does not offer any capital protection or capital guarantee.


Our solution: Star Fund

Star Fund is a mutual investment fund (of the pension savings fund type) under Belgian law with a variable number of units. It is managed by NN Investment Partners.

Please read the prospectus and the Key Investor Information Document. These are available in Dutch and French at www.ing.be and www.nnip.com. They can also be obtained free of charge from your local ING branch.

Pension savings insurance

A pension savings insurance is a “branch 21" type savings insurance policy whereby you enter into a contract with the insurer.

Every deposit you make, after deduction of entry fees, bears interest at the fixed rate applicable at the time of deposit. The granted interest rate is applicable until your contract comes to an end. You may also be entitled to a variable share of the insurance company’s profits, depending on how it performs.

A pension savings insurance offers you a capital guarantee*.

Our solution: ING Life Star Plan

ING Life Star Plan, developed by NN Insurance Belgium nv, is a branch 21 savings insurance under Belgian law.

Please read the financial information sheet (about life insurance: ING Life Star Plan (pdf) and the general terms and conditions of ING Life Star Plan (pdf)). These are available in Dutch and French at www.ing.be. They can also be obtained free of charge from your local ING branch.

As well as pension saving, you can also enjoy tax advantages though long-term savings

Please note that you may have already filled up your tax basket on your tax return, in which case you will not benefit from the tax advantage of long-term savings. This may be the case if you already have a mortgage, for example.

If you don’t (yet) have a mortgage, then long-term savings are definitely worthwhile. You can enjoy a possible tax reduction of 30% on savings up to a maximum of 2,350 euros. The maximum premium you can save per year depends on your earned income.

These figures are for the 2019 tax income year (fiscal year 2020). The tax regime applies to a non-professional customer having his fiscal residing in Belgium. Taxation depends on your individual situation and may change in the future.

Long-term savings insurance

This is a “branch 21” type savings insurance policy whereby you subscribe a contract with the insurer.

Every deposit you make, after deduction of entry fees and premium tax, bears interest at the fixed rate applicable at the time of deposit. The granted interest rate is applicable until your contract comes to an end. Additionally, you may also be entitled to a variable share of the insurance company’s profits, depending on it’s performs.

A long-term savings insurance policy offers you a capital guarantee.

Our solution: ING Life Pension Plan

ING Life Pension Plan, developed by NN Insurance Belgium nv, is a branch 21 savings insurance under Belgian law.

Please read the information sheet on life insurance (pdf) and the general terms and conditions (pdf). These are available in Dutch and French at www.ing.be. They can also be obtained free of charge from your local ING branch.

* ING and NN Insurance are affiliated to the Financial Services Guarantee Fund. If NN Insurance defaults (due to bankruptcy or non-payment), compensation is limited to the surrender value of the contract subject to a maximum of EUR 100,000 per person per institution.