At least, this is the case for most Belgians. Because your statutory pension is (considerably) lower than your final salary. In other words, it’s not enough to maintain your current lifestyle. That is why it’s a good idea to build up a supplementary pension. To close the gap and to safeguard your future comfort.
At NN we believe everyone is unique. And that everyone has their own way of preparing for their old age. How can you ensure a comfortable old age?
Ask yourself the following 3 questions
<small>1. When can I retire?</small>
The state retirement age is 65 and a full career spans 45 years. However, few people actually carry on that long: on average we retire at 61.
<small>2. How much statutory pension will I receive?</small>
Every Belgian who works is entitled to a state pension. The amount you will receive each month depends on your statute, your career and your salary. This means it varies greatly from one person to the next. A guaranteed minimum pension has been determined for a full career. However, since most people don’t work the full 45 years, the actual average pension is lower.
<small>3. How much money will I need for my pension?</small>
The average Belgian lives another 23 years after retirement. Fortunately your family expenditures drop once you’re retired: 10% on average. This means a single retiree spends approximately €1,733 per month. For a couple that’s €2,599. However, your income is cut by much more than 10%. For many Belgians, their state pension amounts to less than half their final salary.
Simulate how much you will need on top of your state pension
Curious to find out how much you will need to be safe in your old age? Your personal data is not stored.
Calculate your pension
Contact an NN insurance broker for more details or to schedule an appointment. He will be happy to discuss with you how you can make the most of your pension.
The capital of a group insurance policy, an optional supplementary pension plan for the self-employed (PLCI-VAPZ), an inheritance, pension savings or other savings can easily be converted into a fixed income with lifelong guaranteed annuity.
With your Individual Pension Commitment (IPA) you save a fixed monthly amount through your company. This is more tax-efficient than a pay rise or dividend! And since this is a dynamic investment your potential return is also higher.
With your Pension Commitment for the Self-Employed (POZ) you are entitled to 30% tax relief on what you save. Without a company, via your income tax. It’s a dynamic investment so there’s a higher potential return.