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If you quit your job, the employer does not continue to pay the contributions for the occupational pension scheme. However, the contract between you and the insurance company remains in force. However, your tax benefits usually cease when your employment relationship ends. This is because they are usually linked to a contribution by the employer to the occupational pension scheme. If the occupational pension scheme is paid out at a later date, the amount paid out must be declared as a pension for income tax purposes.
At Horizon65 we can help you to determine if company pensions are worth it for you by using our mobile app to simulate its effect on your future taking into your existing investments and potential impact of inflation and taxation.
We regularly help our clients by comparing all the available company pension products on the market using our comparison portal or you can also directly get in touch with our experts to understand if it can be a good option for you.