A little extra on top of your savings
The state refunds up to €1320 of income tax from your III pillar contributions
You can get a tax refund for III pillar contributions that are up to 15% of your annual gross income, but no more than €6000.
Payouts
You can access your Next Generation Pension savings anytime. There is no withdrawal or termination fee.
| Payout solution | I am not of retirement age | I am of retirement age |
|---|---|---|
| One-time payout income tax rate | 22% | 22%* / 10%** |
| Supplementary funded pension less than the recommended duration | - | 10% |
| Supplementary funded pension of at least the recommended duration, paid at least once every three months | - | Income tax-free |
| Lifetime disbursement of pension at least once every three months | - | Income tax-free |
* Payout up to five years after signing the agreement or acquiring the unit
** Payout more than five years after signing the agreement or acquiring the unit
The legislation governing the tax system may change in the future. Taxation depends on individual circumstances, including your tax residency.
If you joined the III pillar after 01.01.2021, you are of retirement age when you have five years left until the official pensionable age.
If you joined the III pillar before 01.01.2021, the retirement age is 55. If all the units of a voluntary pension fund you own have been redeemed and you subsequently re-acquire the units of the voluntary pension fund, we will deem such acquisition of units to be the first acquisition of units.
If you have missing work ability, or had missing work ability before retirement age, all payout solutions are income tax-free.
The income tax rate is 10% if the pension fund or insurer is liquidated.
One-time payments or supplementary funded pension of at least the recommended duration paid at least once every three months to the heir or beneficiary are subject to the income tax rate of 22%.
