Pension savings insurance with a guaranteed interest rate

ING Life Star Plan

  • Pension savings insurance

  • Guaranteed interest

  • Tax advantage

Want to start saving for your retirement at a guaranteed interest rate while benefiting from a tax break?

Before we go any further, please take a look at the following important documents:

These documents are also available on request and free of charge from your ING branch and on in English, French and Dutch.​

What are you saving for?

Want to build up pension capital securely at your own pace, while benefiting from a tax reduction (up to 288 euros for the income year 2017 - tax year 2018)? ING Life Star Plan, a life insurance policy with savings element defined as branch 21 under Belgian law and created by NN Insurance Belgium SA/nv*, may well be for you.

How much will my returns be?

The return is made up of a guaranteed interest rate plus a potential profit-sharing:

  • The guaranteed interest rate is calculated on the net premium paid and is guaranteed for this premium throughout the policy term. There is no guaranteed interest rate for future premiums. Since 08/02/2017, the guaranteed interest rate has been 0.65% (excluding fees, charges and tax). This rate will continue to apply until it is changed by NN Insurance Belgium SA/nv. Customers will be notified of any change in their annual statements.
  • The profit sharing percentage varies from year to year and is not guaranteed. The profit sharing depends on the economic climate and the profits generated by NN Insurance Belgium SA/nv.
    • In the first year: you receive your profit sharing without any specific conditions attached.
    • In the following years: you receive your profit sharing if you have paid in at least 300 euros during the year in question, or if your total savings at the end of the year are at least 5,000 euros.

Are there any risks?

The capital you pay in and your interest are guaranteed.

The only risk associated with this product relates to the potential insolvency of the insurance company. However:

  • Life insurance policies are covered by special and separately managed funds within the insurance company's assets. If the insurer should go bankrupt, this fund is reserved first and foremost to meet the commitments to the policyholders and/or beneficiaries.
  • This product also enjoys protection under the "Special Protection Fund for deposits and life insurance policies" scheme (as per the Royal Decree of 14/11/2008). This is limited to the surrender value of the policies up to a maximum of 100,000.00 euros for all protected policies taken out by the same policyholder with NN Insurance Belgium SA/nv. Address of the Special Protection Fund: Caisse des Dépôts et Consignations, avenue des Arts/Kunstlaan 30, B-1040 Brussels.

Premium amount

You decide the amount and frequency of your payments, with:

  • A minimum of 25 euros per month or 300 euros per year.
  • A maximum of 960 euros (income year 2017 – tax year 2018​).


The policy has a term of 10 years minimum from the date it comes into force. The fixed term of the insurance contract must be at the earliest the date on which the insured person reaches the age of 65.

Fees and charges

  • Subscription fees: 3% of each premium paid.
  • Surrender fee: 5% (decreasing over the last 5 years of the policy).

Fees valid as of 03/08/2016. These fees can vary before subscription by prior notification (via the information sheet).


On the basis of the current tax legislation, the following rule applies:

  • The payments are exempt from tax on the premium
  • The policyholder may benefit from a tax reduction for long-term pension savings, equivalent to 30% of the premiums paid.
  • The payments are eligible for a tax reduction until 31 December of the year in which the policyholder has their 64th birthday. A tax certificate will be sent to you every year in February. You can also download this certificate via Home’Bank, along with your other tax certificates.
  • When the policyholder reaches the age of 60**, an advance withholding tax of 8.00% is normally charged on the total amount saved (except for the profit sharing bonus). This tax is deducted at source and once deducted makes the capital tax free on maturity.
  • In the case of early surrender before the term of the policy, the capital will be subject to a professional withholding tax or tax on long-term savings at 8.00% or 33.00%*** depending on the circumstances. In the event of death before the age of 60, the capital will be subject to a professional withholding tax of 8.08%. Contracts with a reserve on 31 December 2014 will have 1% of the tax collected in advance each year from 2015 to 2019. The advance deduction is calculated from the amount of the reserve on 31 December 2014. The amount of the advance deduction is derived from the taxes due.

** If the policy is taken out by a policyholder aged 55 or over, the tax is levied on the 10th anniversary of the signing of the contract.

*** 8.08% or 33.31% if it is a professional withholding tax.

This tax regime applies to an average retail customer who is a private individual, resident in Belgium.

Taxation depends on the individual situation of each customer and may change in the future.

Policy value (reserve)

Each year, the policyholder will receive an annual report from NN Insurance Belgium SA/nv showing the value of their policy as of 31 December of the previous year.

Making a claim, suggestion or complaint

Not 100% satisfied?

  • Feel free to contact ING Complaint Management by e-mail via or by post to Cour Saint-Michel/Sint-Michielswarande 60, 1040 Brussels.
  • Already been in touch with ING? Contact the Financial Disputes Ombudsman, North Gate II, Avenue Roi Albert II/Koning Albert II-laan 8, 1000 Brussels ( or the Insurance Ombudsman, Square de Meeûsplein 35, 1000 Brussels (

Interested in a pension-savings insurance policy with tax breaks?

*Who is NN Insurance Belgium SA/nv?

NN Insurance Belgium (formerly ING Life Belgium) is an insurance company within the NN Group, with a strong history in Belgium. The NN Group is an insurance and investment management company that is listed on the stock exchange and has strong European roots. Represented in 18 countries, and with a total of around 12,000 employees, the group provides services relating to pensions, insurance, investments and also banking services (only in the Netherlands) to over 15 million customers.

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