Prepare your future at your ease without leaving yourself short today, this is what ING Luxembourg proposes.

How can I prepare for my pension?

Are you afraid of losing your spending power when you take your retirement? You would therefore like to put money aside and grow your savings without having to make cutbacks or worrying about managing this capital.

 In collaboration with our insurance partner, ING Luxembourg offers you a product that allows you to:

  • Build up a supplementary personal pension;
  • Deduct the amounts allocated to these supplementary pension savings for tax purposes as of today, under the conditions provided for by law

A life insurance policy

It meets all the criteria laid down by law for its premiums to be tax deductible while enabling you to build up savings.

It is especially created in order to profit from the tax advantages as laid down in article 111 bis du Code Fiscal L.I.R. and to make it possible for you to benefit to the furthest extent from the annual ceilings on deduction of maximum 3,200€/year.

The chance to make your savings grow

ING Pension Plan gives you the opportunity to choose a more or less risky investment, depending on your objectives and situation:

  • Opt for a 100% investment in investment funds whose return is variable, as it is linked to the performance of the underlying SICAVs.
  • Or choose to invest up to 50% in a product with a guaranteed return, and the remainder in investment funds whose return is variable because it is linked to the performance of the underlying SICAVs.

Accumulated savings can be switched between different investment vehicles throughout the term of the contract.

In short, the other important legal conditions to know

Your policy must run for a minimum of 10 years and is available with monthly payments of at least 50€/month (or 600€/year). Free payments (e.g. unplanned premiums) can be added to the regular premiums.

The benefit on maturity can only be paid, at the earliest, from the age of 60 and, at the latest, from the age of 75.

The maximum age for taking out a policy is 65.

In case of death of the insured before maturity: the accumulated savings can be returned to the heirs if no beneficiary has been designated by the insured.

Reimbursement before maturity:

  • Due to a major illness or disability: no loss of tax breaks;
  • For reasons other than a major illness or disability: the full sum repaid early is taxed at the full rate.

At maturity, you will decide whether the benefit should be paid:

  • as a monthly, lifelong annuity;
  • In total or partial capital of a minimum of 5,000€;
  • in annual withdrawal(s) of a minimum of 10,000€;
  • in a combined manner.

Under the tax legislation currently in force, payments at maturity in the hands of Luxembourg residents are taxable as follows:

  • the lump and the annual withdrawal are sum taxed at 50% of the overall tax rate in force;
  • annuities are tax exempt up to a limit of 50%, with the balance taxed at the standard rate.

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