Income Tax - Retirement Savings Contributions (deduction)

Verified 01 January 2024 - Legal and Administrative Information Directorate (Prime Minister)

Do you have a retirement savings product? In some cases, you can deduct the contributions paid from your overall net income. To qualify, you must indicate the amount of contributions paid on your income tax return. We tell you the rules to know.

Retirement savings products are savings products long-term.

During the investment phase, you can, in some cases, deduct the contributions you make.

You will have to wait for your retirement (except exceptional release case) to touch a life annuity or a capital.

That money will then be taxable.

You may be eligible for the deduction of contributions you have made for the following retirement savings products, subject to conditions:

Warning  

certain contributions paid as a result of self-employment are only deductible from business income concerned (industrial and commercial benefits - BIC or non-commercial profits - BNC for example).

The deductible contributions are the ones you pay voluntarily on an individual basis.

FYI  

contributions paid to buy back retiring quarters are deductible under special conditions.

Amounts paid in a year shall be deductible from the taxable income of the year in question, up to a maximum fixed for each member of the tax shelter.

For example, amounts paid in 2023 are deductible from your 2023 taxable income (2024 reporting).

The amounts paid in 2024 will be deductible from your 2024 taxable income (2025 reporting).

FYI  

the ceiling available for contributions paid in 2024 is indicated on your tax notice 2023.

The ceiling depends on your situation:

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You're a salaried employee

The ceiling shall be equal to the higher of the following 2 amounts:

  • 10% 2022 professional income (net of social contributions and professional expenses) with a maximum deduction of €37,094
  • €4,399

FYI  

payments in a PER: titleContent sums from wage savings (profit-sharing, participation, employer contributions) are exempt from income tax.

You're independent

The ceiling shall be equal to the higher of the following 2 amounts:

  • 10% taxable profit for 2022, up to €370,944 + 15% of taxable profit between €46,368 and €370,944
  • €4,399 + 15% of taxable profit between €46,368 and €370,944

If you do not use all or part of your deduction limit, you can carry forward to the next 3 years.

For example, if you did not use your deduction limit in 2023, you can use it to increase your deduction limit in 2024, 2025 or 2026.

The contributions paid are to be indicated in the part Deductible expenses (retirement savings) on your tax return.

Income tax: 2024 income tax return for 2023

Published on 1 January 2024

This page is up to date for the 2023 tax return.

However, the forms, online services and information documents are not yet available for the 2024 campaign. They will be made available online as soon as they become available.

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