Supplementary Pension Insurance

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Characteristics of Supplementary pension insurance:

• a long-term savings product with state contribution
• possibility of creating financial reserves for your retirement
• securing your standard of living
• for individuals
• for companies as an employee benefit programme
• tax allowances

Types of pensions from the Komerční banka Pension Fund:

• Old age pension
  • Arrangement of an old age pension is a legal requirement for conclusion of a contract.
  • The lowest monthly contribution is CZK 100 and there is no upper limit.
  • Entitlement to the old age pension is created for the participant after he or she reaches the age of 60.
  • A condition for payout of this pension is settlement of contributions towards it for at least 60 calendar months.
• Service pension
  • Max 50% of the monthly contribution.
  • Entitlement of the participant is created regardless of the age he or she has reached if contributions towards this pension were settled for an insurance period of 180 calendar months.
  • This is why the pension is suitable for participants under the age of 45.
• Disability pension
  • No special contribution is paid for the disability pension.
  • Entitlement to a disability pension is created for a participant who has been awarded a full disability pension from pension insurance.
  • A condition is that contributions have been settled for this pension for an insurance period of at least 36 calendar months.
• Survivor's pension
  • No special contribution is paid for the survivor's pension.
  • This pension is paid out to the natural person stipulated by the participant in the contract if the participant died and had settled payments for an insurance period of at least 36 calendar months or who drew on a lifetime pension combined with entitlement to payment of a survivor's pension.

Form of drawing on saved funds

A participant who has met the conditions as stipulated in the contract on supplementary pension insurance and in the pension plan, receives the following supplementary pension insurance payments:

• a pension in the form of regularly repeated pension payments provided for life or for an agreed period of time (in the case of a survivor's pension)
• a one-off settlement and surrender

If the participant applies for one of the lifetime pensions, he or she may request an extraordinary payment of the first instalment, to a maximum level however of one third of the total financial amount registered in his or her individual account.

Advantages of Supplementary pension insurance:

• high annual interest on your contributions (3.1 % p.a. – average for the past 10 years)
• a state contribution of up to CZK 150 per CZK 500 invested by you
• decrease in the income tax base by as much as CZK 12,000 per year
• possibility of full or partial payment of contributions by your employer or other party
• the KB Pension Fund is one of the best-managed funds on the market
• the KB Pension Fund is a member of the Société Générale group
• Sphere card for shopping with a discount of 5 to 30% in selected shops throughout the Czech Republic
• possibility of an extraordinary first instalment up to the level of one third of the total financial amount registered for the individual
• nonstop access to the account via the Internet at PF KB site

Supplementary pension insurance allows you to:

• create sufficient financial reserves for your retirement
• take advantage of savings with state support
• decrease your tax base (by a max. CZK 12,000/p.a.)
• safely increase the value of your funds

How to get Supplementary pension insurance?

• contact your relationship manager
• call the free KB Info line on 800 521 521

Related information:

• Penzijní fond Komerční banky

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