Pension plan & income-tax deduction calculator

As an employee/individual, up to €1,500/year (€125/month). As a self-employed worker you can add up to €4,250/year more through a simplified employment plan, for a combined €5,750/year. The deduction is also capped at 30% of your net earnings.

Contributions reduce your general taxable base, so you pay less income tax. With your figures the refund is about €555/year (your marginal rate is 37%). It arrives when you file your tax return the following year.

The refund the tax office gives you is real money. If instead of spending it you reinvest it (into the plan or a fund), that refund also compounds for years — an extra pot that most calculators ignore entirely.

Not always. The money is locked until retirement (or specific cases), and on withdrawal it's taxed as employment income, not savings income — so the tax benefit is partly a deferral, not a pure gift. It works best if your marginal rate is high now and expected to be lower at retirement.

Almost always spread it out. Withdrawing everything at once stacks the whole amount on top of your other income in a single tax year, pushing you into higher brackets. Spreading it over several years (as an annuity) keeps each year's extra income smaller, usually at a lower marginal rate — the Rescate tab shows you the actual euro difference for your numbers.

It depends on your tax rate now vs. at retirement. The plan gets you a yearly refund but taxes the whole pot as employment income on exit; a plain fund gets no refund but only taxes the gain, at the lower savings-tax rate, when you actually sell. The Plan vs Fund tab compares both using the exact same real monthly outlay from your pocket.