New regulations in the pension area
By now, it has almost become a tradition that a new year spells new regulations for the pension area.
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Contact Head of Press Mikkel Bro Petersen
Phone: +45 24 83 86 30mikkel.bro.petersen@velliv.dk
By now, it has almost become a tradition that a new year spells new regulations for the pension area.
And 2023 is no different; This year, we welcome new regulations making it even more favourable for you to save up for your retirement.There is also talk of changing the basic deduction and top-bracket tax – and introducing a “top-top tax”. However, there has not been made any concrete plans for the implementation of this yet.
This year, it will become even more interesting to make contributions to an aldersopsparing. The period for making contributions up to the high ceiling of DKK 56,900 is expanded from 5 to 7 years before state retirement age. Moreover, the low contributions ceiling is raised from DKK 5,500 to DKK 8,800.
If you are paying top-bracket tax, we will normally recommend you save up for your retirement with an annuity certain scheme or a life annuity scheme, giving you a big tax deduction. However, an aldersopsparing might be a great alternative for additional savings. It has a tax on returns of 15.3% which is less than for stocks and other capital income, where the tax on returns is 27-42%.
From 1 January 2023, the state will not set off the pension of state retirement pensioners, early retirement pensioners and senior pensioners, if their spouse or cohabiting partner is working.
In the summer of 2022, we also saw a political settlement to put a stop to offsetting a person’s own work income against the state retirement pension from 1 January 2023. However, the settlement has not yet become law. This is expected to happen during 2023 and expected to be retroactive, applying to all of 2023. We will get back to you once we know more.
