Following legislative changes set to take effect on 1 January 2027, the insurance premiums of voluntary pension insurance policies taken out by personal customers will no longer be tax-deductible. The legislative changes will not affect the validity of your insurance contract or your current pension plan, and you can continue paying premiums into your pension insurance policy.
Pension insurance premiums in 2025 and 2026
Pension insurance premiums paid in 2025 and 2026 will still be tax-deductible up to a sum of 5,000 euros a year.
Pension insurance premiums from 2027 onwards
Pension insurance premiums will no longer be tax-deductible starting on 1 January 2027. From pension accrued from premiums that are not tax deductible, only capital gains are taxable. As previously, the pension is available for withdrawal at the retirement age specified in the insurance contract.
Other changes to be introduced in 2027
If your pension savings are 5,000 euros or less on 1 January 2027, you can withdraw the savings prematurely as one payment.
You can exercise the option offered by the legislative change and withdraw your savings at any time between 1 January 2027 and 31 December 2028. You cannot withdraw the savings as one payment if your pension savings exceed 5,000 euros on 1 January 2027.
More information about the changes
If you have questions about the changes, call our Telephone Service at 010 253 6100 (Monday–Friday 8–16). Call rate: local/mobile network rate. Call rates also apply to queueing.