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Manage your retirement

Reaching retirement is a key moment. But when that moment arrives, a large number of questions arise.
How do you manage your expenditure? How do you protect your future? How do you ensure you have sufficient savings?

What is the best way to manage your new life?

Au Luxembourg, l’âge légal de la retraite est de 65 ans. Cependant, l’octroi des différentes pensions est soumis à une condition d’âge et à une condition de périodes appelées stages. Les pensions ne sont accordées que si l’assuré en fait la demande formelle. Vous pouvez acquérir le formulaire de demande de pension auprès des services de la Caisse Nationale d’Assurance Pension (CNAP).

  • Do you want to build up a lump sum without tying up your money?

    BIL offers you two attractive savings accounts.

    No Notice Savings account

    This account enables you to save with easy access to capital and without taking risks.
    You benefit from three forms of remuneration:

    • Base rate (aligned with market changes);
    • Growth premium (calculated based on the net increase in deposits over the year, i.e. the difference between your deposits and your withdrawals);
    • Loyalty premium (calculated based on the lowest credit balance recorded during the past year).

    Find out more

    Savings Plus account

    • This account enables you to save with a higher return than an ordinary savings accounts .
    • You have easy access to your capital without taking risks.
    • Furthermore, you have the option of investing in euro or other currencies.
    • You have the benefit of a flat interest rate based on the currency of your investment.
    • You can monitor your No Notice Savings account and your Savings Plus account using BILnet.
    • You can also secure tax benefits.
    • Please contact your relationship manager for further information about your savings account.

    Find out more

  • Insuring your family’s future

    A good start for your grandchildren. If you have grandchildren, you can subscribe in their name to various products to ensure that they have a secure start in life.

    “Juvena” life insurance

    This is a modern investment in the form of a life insurance policy that will enable your child to draw on financial support when he or she embarks on his or her adult life. Furthermore, “Juvena” provides the following guaranteed cover:

    • You retain control over the policy for its entire term;
    • You earn an attractive rate of return on your savings;
    • In the event of death, the insurance company pays the remaining premiums on your behalf.

    Find out more

    Wüstenrot mortgage savings plan

    This is a savings account that allows you to start saving for your grandchild's future home. In addition to this, it provides you with a number of benefits:

    • You benefit from an attractive interest rate on savings;
    • Savers pay no account custody charges until their 20th birthday;
    • You enjoy tax benefits.

    Find out more

    Guaranteeing your retirement.
    In order to make the most of your retirement, you can take out various insurance policies during your lifetime which, when they mature, will enable you to benefit from a guaranteed lump sum as well as attractive tax deductions.

    Supplementary pension insurance

    • Guaranteed minimum interest rate on all premiums paid, increased through a potential share in the insurance company's profits;
    • Choice of premium payment frequency (half-yearly, quarterly or monthly);
    • Choice of policy expiry date (at least 60 and at most 75);
    • Capital paid either in the form of a monthly annuity or 50% as a lump sum and the remainder as a monthly annuity;
    • Attractive tax deductions.
    • Various banking solutions are available to help guarantee you a supplementary income enabling you to maintain your purchasing power. Contact your relationship manager in order to select the product suited to your needs.

    Find out more

    Term life insurance

    • Lump sum paid to your beneficiaries in the event of death;
    • Choice of sum insured and term of the policy;
    • Choice of premium payment frequency (single premium or regular premiums);
    • Premiums calculated based on the age of the policyholder, term of the policy and total capital invested;
    • Attractive tax deductions.

    Find out more

    Endowment life insurance

    • Lump sum paid to your beneficiaries in the event of death;
    • Choice of sum insured and term of the policy;
    • Premiums calculated based on the age of the policyholder, term of the policy and total capital invested;
    • Attractive tax deductions.

    Find out more

  • Moving into a retirement home

    Rental of safe deposit boxes:

    If you decide to sell your home or to end the tenancy agreement when moving into a retirement home, you will not be able to take everything with you. Taking jewellery or small items of value with you to a retirement home can be risky. In this case, BIL gives you the option of renting a safe deposit box in one of its branches. Contact your relationship manager for more information.

    Contact us

  • Check-list

    Here is a checklist of topics to be remembered when preparing for retirement:

    Retirement

    • Retirement pension
    • Early retirement pension
    • Supplementary pension scheme
    • Insurance periods

    Insurance and savings

    • Temporary Death-Risk
    • Endowment life insurance
    • Life insurance
    • Wüstenrot mortgage savings plan

    Taxation

    • Tax returns
    • Annual statement

    Expert involvement

    • Relationship manager
    • Notary

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