Private pension is the best savings option

Private pension is the best way to increase your old age pension.

The tax incentive is obvious: up to 6% contribution of wages is tax free and in addition, employees receive 2% contribution from the employer.

Private pension accounts are not subject to investment income tax.

Private pension accounts are not declared as assets in your income tax return, and so they do not affect payments of interest benefits on housing loans, nor of child benefit.

Private pension is exempt from creditors and therefore is not subject to attachment in cases of financial troubles or insolvency.

Pension payments are subject to income tax in the same way as earned income. All individual taxpayers are entitled to a personal tax card which reduces income tax.