By following the correct procedure, you can also save tens of thousands of crowns when terminating the pension savings. Luk Urbnek, financial advisor to Partners, describes how you need to meet.
This year we are celebrating 25 years since the establishment of the pension connection, when you can save for retirement with the support of the state. According to a total sweat of 4.4 million spots, this is a very popular form of stdn. Longer people have more questions about how to choose the pension from their pension contract so that it is as suitable as possible for them.
To understand the whole issue, it is necessary to explain the basic concepts. Today, it is possible to save for retirement through the original supplementary pension supplement, which has become the so-called transformed funds, and since 2013, through new supplementary pension savings. Both of these variants offer the same contributions from the state, the same tax levies, the possibility of an contribution from the employer and similar possibilities to collect disputes.
Transformed funds have been available since 1994, when the state realized that it would be appropriate for citizens not to rely only on the state pension, but thus create their own reserve. He therefore offered a number of benefits in the form of a state contribution and tax levies. These funds, which now have almost 3.5 million clients, could only be negotiated until 31 December 2012. Today, all disputes can be resolved into a supplementary pension fund.
In contrast, the supplementary pension savings was created on 1 January 2013 and its main purpose was to offer citizens the choice of their own investment strategy. First of all, a dynamic stock exchange strategy is a safer than conservatively transformed fund for young people in the long run.
How to end a pension spoen
Spoen retirement can be terminated in several ways, but this has an effect on how the shortened retirement will occur.
- Jednorzov vbr in both variants, the pension can be obtained in the form of a one-time collection under the conditions that the contract was in force for at least 60 msc (that is, five years) and the participant completed the age of 60 years. In such a case, it is necessary to pay a tax of more than 15% of the income and the employer’s contribution.
- Pension payment for a period of 9 years and more in this case u have to pay patnctiprocentnda only from the deposit.
- Pension payment for a period of 10 or more years The payment is exempt from all taxes and benefits from the full value of all disputes. If he accidentally dies, the rest will be the subject of childhood women.
- Vplata of the anus means that you terminate the contract two at the age of 60. In such a case, you must give all the benefits, because you have violated the basic principle of pension savings, namely retirement savings. You will also lose your contribution, pay the input tax and the employer’s contribution, and if you have deducted the contribution from the tax base, you will return these disputes for the last ten years. You won’t go into the red, but you have to shake the lions in the evening. On the positive side, you do not have to return disputes over social and health insurance to any employer contributions.
How to give pads can occur
- Invalidn penze This pension can only be obtained from transformed funds, but you must have it agreed in your contract. The condition pays at least 36 pspvk. The pension is paid at least 36 msc, is not reduced in any way and is not subject to tax.
- Pevod of the anus on the supplementary bed There is no tax liability for the transfer of a dispute from a transformed fund to a supplementary pension fund. If he is more than 60 years old, he can choose a pension in the form of an annuity of at least 36 msc.
Choose what is suitable for vs
The correct procedure for terminating a pension contract can have a significant effect on the final return. While fifteen percent of the income or year is completely normal in financial instruments, the tax on the employer’s contribution is far more severely compared to others.
Pklad: If you have your deposit in the amount of one hundred thousand crowns as well as the contribution of the employer, ie about one hundred thousand and you have achieved an input of 10%, ie 10 thousand for each deposit, then you will have to pay 15% of the amount of 10 thousand crowns, ie 1500 crowns. From the employer’s contribution, it would be 15% of 110 thousand, ie 16,500 crowns.
It follows from the comparison that the tax contribution of the employer is a far more significant impact on your input than any other tax. Therefore, if you have a large employer contribution to your contract, you should choose the first strategy for terminating your contract.
And if you have a significant contribution from the employer on your contract and you are in a transformed pension fund, it will be the most suitable for you to switch to a supplementary pension fund with the subsequent payment of annuity for a period of 36 months. In this way, you get from ten thousand from the employer
The payment of the pension is advantageous
The payment of disputes in the form of a pension is safe from the point of view of the state, which is why the tax is advantageous. With a pension of less than ten years, you will pay tax only on income, and with a pension of more than ten years, you will avoid the tax in full.
The factor influencing the method of collecting your disputes is thus the total property and its distribution. If your disputes in the pension fund are the only ones you have, you will probably choose a one-time settlement. If you only have one, it won’t matter when you retire your old-age pension with a regular pension.
The way to terminate the contract needs to be thought through first and all the circumstances must be considered. What is suitable for one may not be suitable for the other. If you proceed with the development and contact your pension company or financial advisor about all the possibilities, you will certainly use the disputes in the best possible way.