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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:

  1. by concluding a pension insurance contract with a life insurance company or
  2. by making contributions to the voluntary pension fund.

Pensioni kujunemine (eng)