Supplementary voluntary retirement provision with personal contributions

What are the advantages?
IN THE CASE OF SVRP WITH PERSONAL CONTRIBUTIONS, you pay your insurance contributions at periods, selected by you: monthly, every three months, every six months or yearly. It is also possible to deposit a one-time larger amount. The amount is selected by the relevant company’s client.THE PERSONAL CONTRIBUTIONS PAID BY AN INDIVIDUAL for individual supplementary voluntary retirement provision avail of tax preferences as per the Personal Income Tax Act (PITA).THE PERSONAL CONTRIBUTIONS FOR SUPPLEMENTARY VOLUNTARY RETIREMENT PROVISION AMOUNTING TO 10% of the monthly or yearly taxable income are deducted from the individuals’ taxable basis of assessment before calculation the tax payable from the individuals’ income.YOU ENSURE YOURSELF WITH RETIREMENT INCOME which is independent from governmental social security. And also:- The resources received by the voluntary retirement fund after retirements are not taxable;- Using small contributions and a longer insurance period, you can reach a good living standard when you retire.