Usually, a final one-off tax is due on your pension savings at your 60th birthday. Afterwards, you can withdraw your capital free of charge.
Do you need the money before ? In case of early withdrawal, a tax rate up to 33.31% applies. Something you might want to avoid: so let’s check the alternatives.
"}},{"componentType":"sectionTitle","title":"What alternatives?"},{"componentType":"paragraph","richBody":{"value":"Depending on your situation, a personal loan (instalment loan for private purpose) could be an interesting alternative.
Why take a personal loan with ING?
Need help? Check out our frequently asked questions and quickly find your answer.
"}}]},"hasMacro":false,"id":"27c40b57-9842-4cb3-82e5-3f5dd16257c6","legalZone":{"flexComponents":[{"componentType":"paragraph","richBody":{"value":"* Home'Bank, Business'Bank and the ING Banking app are available to all Home'Bank, Business'Bank or ING Banking subscription holders (subject to acceptance by ING and mutual agreement). All relevant information, such as the Home'Bank, Business'Bank, (annexed to ING’s General Regulations), the General Terms and Conditions of the ING Banking app, transaction fees, is available on www.ing.be, at your ING branch and by telephone on +32 2 464 60 04.
This advertising message, which concerns an installment loan for private purposes subject to consumer credit legislation, does not constitute an offer of credit. It is intended exclusively for natural persons of legal age and any request for credit is made subject to prior acceptance of your file by ING Belgium and mutual agreement. The general conditions and rates for this loan are available from all ING branches and can be consulted on www.ing.be (section 'Rates and regulations'). Your request and the possible approval of your request by ING (after examination of your file by ING) in a branch or through the 'Consumer Loans Online' service on www.ing.be, do not commit either ING or yourself, as long as you have not signed a credit agreement at your ING branch or, in the case of an online request, as long as you have not returned the signed credit agreement (after prior approval of your file by ING) to ING, where it is checked beforehand whether the data provided in the request are accurate and complete (among other things, on the basis of the documents submitted or to be submitted).
Legal information related to the loan provider
Lender: ING Belgium SA/NV – Bank – Marnixlaan 24, B-1000 Brussels – RPR Brussels – VAT: BE 0403.200.393 – BIC: BBRUBEBB – IBAN: BE45 3109 1560 2789
"}}]},"localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Pension","url":"/en/individuals/pension"}},"componentType":"editorialHeader","coreHeader":{"body":"Pension savings is popular because it comes with a tax reduction. At the same time, it is also a long-term commitment. Do you consider to withdraw your pension savings early? In that case, the taxation is at a higher rate but there are alternatives to consider in case of needing the capital earlier.","headerImage":{"extension":"jpg","original":"https://assets.ing.com/m/75843abe56f29bf1/original/Woman-smiles-and-drin-ks-coffee-while-online-shopping-using-her-laptop-ING-Checkout.jpg","transformBaseUrl":"https://assets.ing.com/transform/2f6f5bc8-4c0c-4ab2-ba58-fb76645c4bb0/Woman-smiles-and-drin-ks-coffee-while-online-shopping-using-her-laptop-ING-Checkout","type":"image","width":5616},"title":"Considering withdrawing pension savings early? Might be costly"},"date":"2025-03-07","legalBanner":{"body":"Caution, borrowing money also costs money.","componentStyle":"alternativeVariantLarge","headerBannerType":"headerBannerType"},"readingTime":2},"publishDate":"2025-03-07T09:06:41.826+01:00"}}