You can also make use of your savings before your retirement, although the valid rate of income tax will then
be deducted from the payments. Starting from the age of 55, if you’ve been contributing to the 3rd pillar for five
or more years, the income tax rate is much more favourable when you withdraw money – just 10%. The same rate applies
if you’re incapacitated and unable to work. Lifelong payouts are not subject to income tax.
Pension Insurance+ contract can be terminated at a bank branch or using the Internet bank. To terminate the
contract using the Internet bank, you should first call the Investment Helpline, phone 613 1606,
or contact them by the e-mail address firstname.lastname@example.org.
You will have to pay a service charge of 1% of the disbursement, but no less than 20 euros, upon the termination
of the contract if the termination application is submitted when less than five years have expired from the entry
into the contract. When five years have already expired, no service fee shall apply upon termination of the contract.
In case of the early cancellation of the contract, the market value of the fund units is disbursed, i.e. the
guarantee is not effective then.