Top up your pension while reducing your tax bill
The FPS or Free Supplementary Pension for the self-employed is only available to the self-employed (individuals or company directors) and enables you to top up your future pension with a tax advantage 🌈. You top up your basic pension by paying fully deductible premiums : this means that €1 invested in a pension plan really only costs you around €0.5 (if you are taxed at 50%)!
The social FPS is also highly advantageous, offering additional protection in the event of incapacity for work or serious illness (see comparison table below). In return, you leave 10% of your pension capital.
Last but not least, the FPS INAMI covers certain (para)medical professions registered with the INAMI: doctors, dentists, physiotherapists, pharmacists, speech therapists and self-employed nurses. This is an allowance paid by INAMI to the company you have chosen. This sum is used to finance coverage corresponding to the social FPS, with additional benefits such as death insurance (see comparison table below). This is also known as an INAMI contract, social benefit or social status (see INAMI website).
| Ordinary FPS | Social FPS | FPS INAMI |
Pension savings | ✓ | ✓ | ✓ |
Loss of income coverage | ✕ | If disability or maternity leave | If disability or maternity leave |
FPS reimbursed in the event of disability | ✕ | If disability or maternity leave | If disability or maternity leave |
Birth bonus | ✕ | ✓ | ✓ |
Death insurance | ✕ | ✕ | ✓ |
Pension capital | 100% of premiums | 90% of premiums | 90% of premiums |
Maximum deductible annual premium (2022) | 8.17% of taxable income* or €3,447.62 | 9.4% of taxable income* or €3,966.67 | Non-deductible as paid by RIZIV |
(*) more precisely, the taxable income to be taken into account is your taxable income from 3 years ago revalued.
💡 The FPS is very advantageous, but beware of entry and annual management fees, which can quickly melt your pension capital. Choose a broker with minimum fees, like our partner Yago (see Yago website).