Currently, you may deduct a maximum of 5,000 euros in taxation on your payments to your PS account. You will still be able to do this in 2026 as before.
A legislative amendment concerning the taxation of PS accounts will enter into force at the beginning of 2027, discontinuing the right to the tax deduction. This amendment will not affect the taxation of savings accumulated on your PS account before 1 January 2027.
If the total amount of your PS account savings does not exceed 5,000 euros on 1 January 2027, you may withdraw them in one go in 2027 or 2028 without the higher tax rate being applied. The normal capital gains tax of 30% will be levied on such a withdrawal. Once you withdraw your savings, you may invest them in our other investment products, which allow your money to grow and provide flexibility according to your needs.
Note that you cannot withdraw your savings at once if you have already reached your retirement age and your planned PS withdrawals have started.
If your savings are currently less than 5,000 euros and you are considering withdrawing them after the beginning of 2027, you should note that any new payments, a rise in the value of your investments or any transactions you execute could increase the amount of your savings above 5,000 euros. Therefore, it might not make sense to deposit any more funds into the account. You can continue to trade in securities on your account normally.
If your savings exceed 5,000 euros on 1 January 2027, you can withdraw funds prematurely without the higher tax rate being applied only if you have a specific reason for the withdrawal (divorce, spouse’s death, serious illness, prolonged unemployment).
The capital saved on your PS account, as well as the return on it, are subject to a 30% capital gains tax when they are withdrawn. As for funds deposited after the beginning of 2027, a tax of 30% is applied on the return but not on the deposited funds themselves.
This means that the taxation of new PS account savings will be the same as in an equity savings account, for example. However, with an equity savings account, you can withdraw your funds at any time.
If you wish to continue saving in your PS account, remember that any new funds you deposit will be tied, too, and you will not be able to withdraw them until you reach your retirement age.
If you want a more flexible way of saving for your retirement, these choices we offer may better suit your needs:
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