START REAPING THE FRUITS OF YOUR PENSION NOW!

S-PENSION

Private pension plan with tax deduction.

SEIZE THE INITIATIVE!

TAKE ADVANTAGE OF TAX DEDUCTIONS NOW!

In order to help you ensure your living standard after your reti-rement, BCEE offers you the possibility to build up an additio-nal source of income in form of a supplementary pension by subscribing to its private pension savings plan, S-PENSION. With S-PENSION, you can save today for tomorrow at your own pace and on favourable terms and conditions, while benefiting from tax deductions.

The Legislator has introduced a number of tax breaks to encourage private pension savings, subject to certain regula- tory conditions:

you are a Luxembourg resident taxpayer (or assimilated),

you are under the age of 65,

the minimum contract period is 10 years,

redemption starts at the earliest at the age of 60 and at the latest at the age of 75.

The maximum amount you can deduct from your taxable income each year is fixed at EUR 3.200, regardless of your age.

If the taxpayer and his spouse/partner both take out a contract, the said deductible amount will be calculated individually for each spouse/partner, no matter if they have opted for a collec-tive or an individual taxation.

This means you pay less tax today, and less tax in the future during the repayment period of the accumulated funds:

capital lump sum repayments are taxed at 50% of your average tax rate (“half the global rate”),

half the amount of each monthly life annuity payment is tax-exempt.

either for a lump sum repayment of 100% of the accumulated funds,

or a lump sum repayment of max. 50% of your accumulated funds, with the balance being paid as monthly life annuity payments,

or for monthly life annuity payments for the total amount of the accumulated funds.

UPON MATURITY OF THE PLAN, you may opt:

Depending on your preferences and age, you may choose between the “stocks” and “flux” formulas, with a predefined percentage of equities.

The sooner you start to save with S-PENSION, the longer the savings period and the longer you will be entitled to tax breaks.You can make regular or one-off payments and you can decide to suspend payments whenever you want.If you opt for the automated debit of your payments, the chosen amount will be debited from your account at the chosen payment frequency. The automated debit option further entitles you to take advantage of preferential rates.

Your payments are invested in the BCEE SICAV LUX-PENSION. This SICAV comprises several sub-funds which differ by their investment policy.

THE EASY WAY TO SAVE FOR THE FUTURE!

CHOOSE YOUR INVESTMENT POLICY!

Whatever formula you choose, investments in equities have to be made within the limits set by law:

“STOCKS” FORMULA “FLUX” FORMULA

Age at the start of the fiscal year

Maximum total savings invested

in equities

Maximum annual payments invested

in equities

Under 45 years

100% 60%

45 to 49 years 75% 40%

50 to 54 years

50% 30%

55 to 74 years 25% 20%

For any further information, please contact your BCEE branch

or visit our website www.bcee.lu

Banque et Caisse d’Epargne de l’Etat, LuxembourgEtablissement Public Autonome

Siège Central : 1, Place de Metz L-2954 Luxembourg BIC : BCEELULL R.C.S. Luxembourg B 30775

www.bcee.lu tél. (+352) 4015-1 03/1

7/INTERN

ET A

dver

tisin

g do

cum

ent

with

out

cont

ract

ual v

alue

.