2024-01-05 16:22:56
Fewer and fewer Belgians are opting for a higher tax ceiling in the context of individual pension savings, according to a survey carried out among several banks. Their number was already low in recent years, but it will decrease further in 2023.
The previous federal government introduced a cap on pension savings, allowing more money to be paid in for a proportionately smaller tax benefit. In 2023, this ceiling was 990 euros for a 30% tax reduction, or 1,270 euros for a 25% tax advantage.
This measure, which did not convince many Belgians since its introduction, seems to be losing further popularity. BNP Paribas Fortis thus indicates that only 4.06% of its clients with a pension savings fund opted for the higher ceiling in 2023. This rate was 5.69% in 2022. For savings insurance -pension, the percentage is even lower, at 2.33% in 2023, compared to 2.40% the previous year.
At Belfius, less than 1% of pension savings fund savers have chosen this type of ceiling. “This number is decreasing further, which proves that the small additional tax advantage of this ceiling is having difficulty convincing savers,” underlines the bank.
As for ING Belgium, the number of people opting for a higher ceiling remains “very low (around 1%) but stable”. The bank did not yet have figures on Friday.
Traditionally, pension savings funds are more popular than pension savings insurance. The inflow decreased slightly in 2023, according to Belfius and ING, or was at the same level as the previous year, at BNP Paribas Fortis.
The average return on pension savings funds also rose to 6.4% in 2023, according to Trends. However, significant differences were noted between the different funds.
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