New rules for a Private Supplementary Pension for newly self-employed persons as an ancillary occupation

Since the new copayment scheme for self-employed persons took effect, the rules for a Private Supplementary Pension for newly self-employed persons as an ancillary occupation have also changed.

Until 1 January 2015 a starting self-employed person in an ancillary occupation could immediately save for a supplementary pension, on the condition that he or she paid at least the same social security contributions as a self-employed person in a principal occupation.

But since 2015 a waiting period of 3 years has been in place. Even if your client already pays high social security contributions, he or she will still have to wait 3 years before setting aside funds through the Private Supplementary Pension scheme. This means that a self-employed person in an ancillary occupation can only start saving through the scheme if he or she has been working for more than 3 years and if their net taxable income generated 3 years ago was high enough. At present this means that he or she earned at least €13,296.25 in 2014. As soon as a self-employed person’s ancillary occupation becomes a principal occupation, he or she can immediately save through the Private Supplementary Pension scheme.

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