The ultimate guide to retirement savings in 2024

This guide provides an overview of what each of these options entails and how they can contribute to a financially stable future.

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In a world where financial security is becoming increasingly important, it is essential to think about building up a pension in good time. pension savings, long-term savings, VAPZ (Free Supplementary Pension for the Self-Employed) and IPT (Individual Pension Commitment) are four key pillars through which one can ensure a comfortable retirement. This guide provides an overview of what each of these options entails and how they can contribute to a financially stable future.

Retirement planning is not only a way to ensure future security, but also a tool to benefit from tax advantages and long-term returns. Choosing the right retirement insurance depends on personal circumstances, work status and financial goals. In this article, the four main forms of retirement insurance - pension savings, long-term savings, VAPZ, IPT - discussed in detail. This article is essential for anyone looking for information on retirement insurance, pension accrual for the self-employed, or retirement savings for individuals.

What is retirement savings?

Definitions and benefits

Pension savings is a tax-advantaged form of savings where you build up a savings pot for your retirement during your working life. This offers not only financial security but also significant tax benefits. Annually, you get a percentage of the amount saved back through personal income tax, which is a strong motivation to participate in a retirement savings plan.

Tax caps and risks

Two tax caps apply to pension savings: you can save up to €1,020 annually with a tax benefit of 30%, or up to €1,310 with a tax benefit of 25%. The type of pension savings insurance can range from guaranteed returns with no capital risk (Branch 21) to investing in funds where returns depend on fund performance (Branch 23).

Application and tax benefits

It is advisable to start retirement savings as early as possible, ideally from the time you receive a professional income. This entitles you to tax relief and provides a longer period for your savings to grow through compound interest.

Read all about pension savings on this page. Still have questions? Call us at 03/326.38.80.

What is long-term savings?

Definitions and benefits

Long-term savings is a form of saving that specifically aims to build up capital for the future, and can be used for both retirement and other long-term goals. It offers tax relief on the premiums deposited which makes it an attractive option for many people.

Flexibility and efficiency

Long-term savings allow you to save up to a certain maximum amount each year, depending on your salary, with premiums being 30% tax deductible. The accumulated capital grows tax-free, and you can choose from different investment options, ranging from guaranteed returns (Branch 21) to investment funds with variable returns (Branch 23). This offers flexibility to grow your savings according to your risk profile and financial goals.

Application and additional options

Applying for a long-term savings plan is easy and can be arranged by us very quickly. You can also take out additional insurance, such as death cover, to protect your dependants financially.

Moreover, depending on the type of plan, you may also be able to withdraw part of your capital early for specific purposes such as buying a house.

What is VAPZ?

Definitions and benefits

The Free Supplementary Pension for the Self-Employed (VAPZ) is a pension savings formula specially designed for the self-employed, both with and without a company. The contributions you make are fully deductible as professional expenses, resulting in lower taxes and social security contributions.

Flexibility and efficiency

A PSPS offers flexibility in premium payments where you can decide the amount of your contributions depending on your income. The maximum amount you can contribute annually is based on your earnings from three years earlier. Premiums are exempt from premium taxes, and the guaranteed return is usually higher than that of a regular savings account.

Application and additional options

Applying for a PSPS is easy and also offers the possibility of taking out additional insurance, such as disability or death cover. This makes the PSPS not only a tool for pension accrual, but also a way to enjoy additional financial protection.

Read all about VAPZ on this page. Still have questions? Call us at 03/326.38.80.

What is IPT?

Definitions and benefits

The Individual Pension Trust (IPT) is a pension insurance paid by your company, and is intended for company executives. This type of insurance falls within the second pillar of the pension system and offers significant tax advantages. The premiums paid by the company are deductible as professional expenses and are not taxed in the company manager's personal taxes.

Flexibility and risk

IPT insurance offers flexibility in premium payments and can be adjusted annually according to the entrepreneur's financial situation and goals. You can choose a guaranteed return with no capital risk (Branch 21) or invest in variable return funds (Branch 23). An IPT also offers additional protection, such as death cover and accident insurance.

Property finance and application

A unique advantage of an IPT is the ability to use an advance on accrued pension capital for property finance. This can be used for the purchase or renovation of a property, for example. Applying for an IPT insurance policy does require the company manager to receive a regular and monthly company salary.

Read all about IPT at this page. Still have questions? Call us at 03/326.38.80.


Planning for your retirement is a crucial part of financial planning. Whether you choose retirement savings, long-term savings, VAPZ and/or IPT, each offers specific benefits that can contribute to a comfortable and financially stable retirement. By investing early and strategically in these retirement policies, you can not only enjoy tax benefits but also ensure a better standard of living during retirement. Consider your options carefully and choose the retirement solution that best suits your personal and professional situation.

This guide will help you make an informed choice of pension insurance, so that you lay a solid foundation for your financial future. Are you looking for advice or want to know more about your options? Then contact us via the contact form on our website or call us at 03/326.38.80. We will discuss your pension situation and determine the best strategy for your retirement.

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