By Paul Maenhaut

Since 1 January 2016, you can ask the payment of your extra-legal pension insurance the moment you are pensionable. You therefore don’t have to wait anymore till you actually retire.

If you are still working and you have an extra-legal pension insurance with your employer, the insurer can refuse to pay as long as you are still working for that employer. In that case, you have to check what the terms and conditions of your insurance are.

In addition, as of 1 January 2016, you must take the money at the moment when you actually retire. It is therefore no longer possible to leave the money till you reach 65 years.

The taxes on the payment of the extra-legal pension insurances are the same if you take it at the moment you are pensionable or when you actually retire.

This means:

• 3,55% social security;
• 2% solidarity tax;

On the remaining amount:

• 0% on the “benefit participation”;
• 10,09% on the capital obtained by personal contributions (16,66% on part obtained till 1992);
• 16,66% on the capital constituted by employer contributions
• communal tax, depending on your place of residence.

Bear in mind that these 16,66% can be reduced to 10,09% IF you give a proof that you have worked for the past 3 years, whatever the country (even in Emirates, Singapore, Korea, Turkey, Mauritius, etc.).

This is ONLY valid if you take your pension on the basis of the special flying personnel system (law of 3/11/1969 or 20/9/2012)! Otherwise, it is only possible if you work till 65 years old.