The time is now: don’t miss hundreds of euros in tax benefits in 2022 | MyGuide

Anyone saving for a pension or long-term savings will be building a piggy bank by the time they retire. Moreover, it is stimulated by the tax authorities. Deposits provide a significant tax break. We turn to some interesting options.

Anyone between the ages of 18 and 64 can save for additional retirement capital through traditional pension savings. The amount you can deposit annually for this purpose is limited. In 2022, the normal maximum is €990. In addition, the limit of 1,270 euros has been increased. Those who choose the latter must explicitly request it from their bank or insurance company.

Those who deposit an amount between €0 and €990 receive a 30% tax reduction on the amounts deposited. Those who deposit between €990 and €1,270 enjoy a tax reduction of 25%. Therefore a deposit of €990 results in a tax reduction of €297. Those who deposit €1,270 must pay €317.50 less in taxes.

If you want to get the maximum tax benefit out of the can, pay attention. If you save 991 to 1187 euros, you will get a tax reduction from 247.75 euros to 296.75 euros. This is less than the €297 tax benefit received by the saver who set aside €990.

Retirement savings through the bank? You will find the best offers of pension funds in these financial institutions.

There are two options for retirement savings: through the bank or through the insurance company.

• A retirement savings fund in a bank

Those who save for a pension through a pension savings fund in a bank have their annual deposits invested in a fund containing stocks and bonds. With a positive development of the stock market, this leads to a good return, with a negative development, it can also lead to losses.

It is difficult to predict in advance which bank will offer the fund the best return. But you can probably count on their past performance. Although it does not make any guarantees for the future, it may provide an indication of management.

You can see how they’ve done in recent years and whether they’ve performed consistently Spaargids.be overview. There you can also check the relevant money fee cost. After all, higher costs erode returns.

• Tak21 savings insurance with an insurance company

However, those who desire certainty can opt for pension savings through Branch 21 savings insurance with an insurance company. In this case, the saver receives a guaranteed principal rate of interest with any additional profit sharing for the years when the reinvestment of his deposit by the insurance company has earned him more and his results allow. With this formula, you can exclude losses.

But the same observation applies here, too: It’s impossible to say in advance where you’ll get the highest return over the entire term of your retirement savings insurance. Well you can at that Spaargids.be overview Look at the income the insurers made last year and the entry costs they charge.

advice: See the best retirement savings insurance offers through the insurance company here.

In addition to traditional pension savings, so-called long-term savings also provide an additional opportunity to build additional pension capital. This only applies to people with occupational income. After all, the amount that can be saved depends on your net taxable professional income. up to € 172.80 + 6% of professional income. Thus, those with a net taxable income of €28,000 can deposit an amount of €1,852.80. There is an absolute maximum of €2,350 for the year 2022. This corresponds to an income of at least €35,620.

Deposits for long-term savings result in a 30% tax cut. Those who can deposit a maximum of €2,350 must pay €705 less in taxes.

Please note: Long-term savings fall into the same basket as principal payments for a loan for a second or third home and outstanding balance insurance premiums. If the €2,350 basket is already filled with this, the long-term savings will not result in any additional tax relief. So it is generally advised to wait until after you have paid off your loans.

advice: Consult your long-term savings returns here.

In addition to traditional pension savings and long-term savings, the self-employed can also choose a voluntary supplementary pension for the self-employed, or VAPZ. This is also done through deposits into the Tak21 savings insurance policy. The self employed person earns guaranteed interest on this. In addition, he is checked annually to see if he can receive profit sharing in addition to the basic bonus. This is the case if the insurance company can reinvest the deposits profitably in the financial markets and its results allow it.

This year, freelancers may spend a maximum of 8.17% of their professional income from three years ago, up to a maximum of €3,447.62.

Anyone who chooses the social VAPZ, which includes benefits in case of incapacity for work as well as a savings formula, can increase this percentage to 9.40%, up to a maximum of 3966.67 euros.

Deposits for VAPZ can be deducted from income, thus providing tax savings at the highest rate at which it falls. This is easily 45% to 50%.

Moreover, the deduction also reduces the basis on which Social Security costs are calculated later, which increases the return. So it is one of the formulas with high tax advantages.

advice: Here you will find the best offers for VAPZ.

Read also on Spaargids.be:

How do you raise your pension as a self-employed person? Exactly how much can you save?

With this insurance company, the interest on the TAK21 savings insurance policy rises to 1.80 percent

Pension Provident Funds Declining: Will There Be Less (Quick) Savings in 2022?

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