PLCI supplementary pension plan for self-employed individuals*

If you’re self-employed, your state pension will be very limited. To maintain your standard of living in retirement, you need to build up your own pension pot as soon as possible.

The PLCI is an effective way to do this. Your contributions are fully tax-deductible, which reduces your taxable income. You pay not only less tax but also fewer social security contributions.

To maximise your tax benefit, you can combine your PLCI with other pension plans like the EIP, CPTI and private pension savings.

The net amount of each premium (after deduction of taxes and front-end fees) is invested until you take retirement or early retirement at the interest rate in force at the time of payment. That interest rate remains valid for the entire duration of the plan.

You may also benefit from annual profit-sharing payments with your PLCI. These are not guaranteed, may vary from year to year and depend on both AG’s financial results and the economic situation.

The gross overall return (guaranteed interest rate + profit-sharing payment) of AG’s PLCI and social PLCI plans was 2.30% in 2023.

This return does not take into account fees and taxes. It relates to the past and is not a reliable indicator of future returns.

Your PLCI or social PLCI will be liquidated on your statutory retirement date or when you take early retirement. When the capital is liquidated, you pay a 3.55% INAMI contribution and a solidarity contribution of up to 2% on the accumulated capital and profit-sharing payments.

In addition, the capital is taxed according to the principle of the fictitious pension. This means that, for 10 or 13 years, you will have to declare a small percentage of the capital in your personal income tax return. The percentage to be declared and how long you have to declare it depend on your age at the time your pension pot is liquidated.

No tax is due on profit-sharing payments.

Insurance-based supplementary pension plans for self-employed individuals are not covered by the protection regime applicable to branch 21 products and are therefore not covered by the Guarantee Fund for Financial Institutions.

To ensure that its products are responsible, AG implements various strategies such as:

• factoring in environmental, social and governance matters (using ESG risk scores, among others)
• excluding controversial activities (tobacco, arms, coal, unconventional energy sources such as tar sands and shale gas and oil etc.)
• excluding companies that do not respect the principles of the United Nations Global Compact
• using a "best-in-class" approach
• taking an active ownership approach

This product has environmental and social responsibility characteristics but does not have a sustainable investment objective as such.

You can find more information on AG's approach to investing sustainably and responsibly as applied to its branch 21 products.

Be sure to read the standard terms and conditions and information sheets before making an investment decision.

• Standard terms and conditions - PLCI and social PLCI
• Information sheet - PLCI and social PLCI
• Information sheet - Environmental and/or social characteristics

If you have any questions, you can contact your advisor in the first instance or consult Article 21 of the standard banking terms and conditions.

Complaints can be made to BNP Paribas Fortis SA, Complaints Department (JQABD), Montagne du Parc 3, 1000 Brussels (tel. 02 228 72 18, email gestiondesplaintes@bnpparibasfortis.com), or via the online form available on www.bnpparibasfortis.be > Suggestions or complaints > online complaints form.

If you’re not happy with the proposed solution, you can send your complaint by post to the Insurance Ombudsman, Square de Meeûs 35, 1000 Brussels – BCE 884.072.054 – Tel: 02 547 58 71– www.ombudsman-insurance.be.

AG Insurance SA/nv – 53 Boulevard Emile Jacqmain, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0404.494.849 – http://www.aginsurance.be/. Accredited insurance company licenced under code number 0079, under the supervision of the National Bank of Belgium, 14 Boulevard de Berlaimont, B-1000 Brussels.

Intermediary: BNP Paribas Fortis SA/nv – 3 Montagne du Parc, B-1000 Brussels – RPM/RPR Brussels – VAT BE 0403.199.702, registered with the FSMA, 12-14 Rue du Congrès, B-1000 Brussels, under code number 025879 and acting as a contractually appointed insurance agent on behalf of AG Insurance SA/nv. BNP Paribas Fortis SA/nv holds a stake of more than 10% in AG Insurance SA/nv.