Retirement investing for your future

Pension investing means building a pension by investing in equities, bonds and investment funds, rather than only saving. The aim is extra capital alongside your AOW and any collective scheme.

Over the long term investing generally yields more than saving, but there is risk too: the value can fall. Because your horizon is long, there is time to absorb fluctuations. Read what pension investing is or see pension investing at Vive.

You contribute to a lijfrente account and that money is invested until your retirement date. In return there are three tax advantages:

• Your contribution is deductible from your taxable income, within your jaarruimte and reserveringsruimte.
• The capital built up does not fall into box 3 during the accrual phase.
• You only pay income tax once the benefit starts, often at a lower rate.

The trade-off: the money is fiscally locked until your retirement date. Calculate your room with the jaarruimte calculator or read how pension investing works.

The investments can be similar; the difference is in tax treatment and access.

With pension investing your contribution is deductible within your jaarruimte and your capital sits outside box 3 during accrual. In return the money is locked until your retirement date. With regular investing you can always access it, but you miss the tax advantage and your capital counts in box 3. See pension investing and goal-based investing.

Four advantages over ordinary saving or investing:

• Deduction. Your contribution is deductible from your taxable income within your jaarruimte and reserveringsruimte.
• No box 3. During the accrual phase your pension capital does not count towards wealth tax.
• Deferred taxation. You only pay tax once the benefit starts, often at a lower rate.
• Return. Over a long horizon, investing generally offers more growth potential than saving.

Against that, your money is locked until your retirement date and the value can fall. Also read the drawbacks of pension investing.

There are three kinds of risk to take into account:

• Market risk. The value of your investments can fall. You can lose part or all of your contribution and there is no guaranteed outcome.
• Lock-in risk. Your money is fiscally locked until your retirement date. Withdrawing earlier costs you the deduction plus 20% revisierente.
• Fiscal risk. Rules and rates can change; you build up under today's rules.

Vive matches investment risk to your situation and reduces it towards your retirement date, but that does not remove risk. Read the drawbacks of pension investing and the investment policy.

Your maximum contribution is set by your fiscal jaarruimte and any reserveringsruimte. In 2026 the jaarruimte is capped at €35,589 and the reserveringsruimte at €42,753. You may combine both in the same year.

Both are recalculated annually based on your income and previous pension accrual. If you contribute more than your room, that part is not deductible. Calculate with the jaarruimte calculator and the reserveringsruimte calculator.

Your contribution to a lijfrente account is deductible within your jaarruimte and reserveringsruimte. How much you get back depends on your income: you deduct at your box 1 rate, which in 2026 is 35.75%, 37.56% or 49.50%. No tariefsaanpassing applies to lijfrente contributions, unlike mortgage interest, so above €78,426 you get 49.50% back on the part of your contribution falling in that bracket.

Two things to bear in mind. Because the deduction lowers your income, a large contribution can partly fall into a lower bracket and so be deductible at a lower rate. Conversely your effective benefit can be higher, because tax credits rise as your taxable income falls. In addition, your pension accrual does not fall into box 3 during the accrual phase. Calculate your room with the jaarruimte calculator or read the tax advantages of pension investing.

Fully flexible on what you contribute. You decide how much and when you deposit: monthly, quarterly, or in one go at year-end. Pausing is free, so is increasing. You arrange it all in the app.

What is not flexible is withdrawal: a lijfrente is fiscally locked until your retirement date. That is the trade-off for the tax benefit. So check your buffer first before locking away large amounts.