Supplementary funded pension – III pillar
Today, the supplementary funded pension allows:
- determining the amount of contributions with the possibility of changing the size of the contribution at any time,
- receiving a 20% income tax incentive on the contributions made during the year, which do not exceed 15% of the gross income (as of 1 January 2012, the absolute maximum for the contributions is €6,000),
- changing a pension fund to another pension fund or insurance contract,
- grace periods (also the option to suspend the contract).
In the future, the supplementary funded pension will allow:
- maintaining the established standard of living also at old age,
- taking the accrued sum into use already from the age of 55,
- receiving monthly or quarterly lifetime payments tax free.
The supplementary funded pension can be subscribed through one of the following options:
- by concluding a pension insurance contract with a life insurance company or
- by making contributions to the voluntary pension fund.