The Future Pensions Act (Wtp) went into effect July 1, 2023. The new law gives you more tax space to set aside your own money for your retirement through annuities, i.e. outside of SPIN. So you can provide more extra pension yourself than before, without paying tax on it right away. For your SPIN pension there is no extra tax allowance. It remains a maximum of 800 euros (depending on your salary).
The increased tax space for annuities applies retroactively as of Jan. 1, 2023. Please note that when calculating this tax space, you must first deduct your pension accrual with SPIN – the so-called factor A – from the maximum reserve space. You will find the factor A each year on your Uniform Pension Statement (UPO).
So now you have more tax space to build up extra retirement income outside of SPIN. Not sure what is wise for you? A financial advisor can help you with this. More information can be found here.
Will you have enough soon?
In the Pension Planner on My SPIN you can see how you are doing. Do you want to build up extra pension with SPIN? In the Pension Planner you can also see the maximum amount you can deposit tax-free into your DC capital with SPIN. Please note: in this calculation, the planner does not take into account any money you may already have deposited extra.
Are you already putting extra into your DC capital and have we notified you that you have reached your tax maximum? Then this change will not allow you to deposit more into your DC capital. The increased tax allowance only applies to pension accrual outside of SPIN.
Are you incapacitated? You will then not be able to access the Pension Planner. If you have any questions, please contact us.