How does supplementary pension saving work?

The principle of supplementary pension saving is based on the regular saving of funds that are collected and appreciated over the long term in your personal account in the supplementary pension company.
This is an advantageous, state-supported form of pension insurance with the possibility of using a tax credit of up to 180 EUR. At the same time, you can also receive contributions from your employer, thanks to which you can significantly increase your future pension. Savings, including employer contributions, are in your personal account with inheritance rights.
With us, you can choose the optimal investment strategy called Comfort life^TB, which is exceptional in its simplicity and is based on savings in one fund that adapts to the age of the saver. Just choose a suitable fund that corresponds to your expected retirement.

What is the purpose of supplementary pension saving?

The purpose of supplementary pension saving is to enable you to receive supplementary pension income in old age or supplementary pension income in the event of the end of the so-called risky works.

Who can conclude a participant contract with a supplementary pension saving company?

Participant contract with a supplementary pension saving company can be concluded by:

employee or
a person who has reached at least 18 years of age (e.g. self-employed person - entrepreneur, regardless of whether he keeps accounts, i.e. applies verifiable tax expenses or applies flat-rate expenses, unemployed person, student).

The contract is concluded and enters into force on the day of its signing.
The contract becomes effective on the day the first contribution is credited to the participant's personal account.

Who must enter into a contract with a supplementary pension saving company?

The employee who performs the so-called risky work is obliged to conclude the participation contract within 30 days from the beginning of the performance of this work.
The employer who employs employees who perform the so-called risky works, within 30 days from the start of these works.

Can I cancel my contract at any time?

The contract cannot be canceled by agreement or termination.
The participation contract can only be terminated:

by paying the last installment of the supplementary pension
by paying a one-time settlement
by transferring the participant's funds to the insurance company, if the participant requests the payment of a lifetime supplementary pension
by a court decision
on the day the participant transfers from DDS TB to another supplementary pension company
by withdrawing from the participation contract concluded at a distance according to a special regulation
by the expiration of a period of two years from the date of its conclusion, during which no contribution was paid in favor of the participation contract, or
upon expiry of a period of two years during which the value of the personal account was zero

How do I find out the balance of funds in my personal account in DDS TB and when will I receive a personal account statement?

If you are a client of Tatra banka, you can get information about the current status of your personal account in DDS Tatra banky at any time via Internet banking^TB (in the section DDS => Account status) or via the Tatra banka mobile application. Non-clients of Tatra banka can use the electronic portal DDS Online on our website.
In addition, every year, by the end of February at the latest, you will receive a personal account statement for the previous year free of charge. We send the statement to the address of permanent residence, or to the correspondence address chosen by the client.
During the year, you can get a statement at any time upon request, within 15 working days from the delivery of a written request to DDS TB.

Are benefits from supplementary pension saving taxed when paid? If so, how much?

Yes, individual benefits are taxed upon payment in such a way that all contributions paid are deducted from the relevant benefit and the difference is taxed at a 19 % withholding tax rate according to the Income Tax Act.
This tax deduction is made directly by DDS Tatra banky when the benefit is paid, thus the taxpayer's tax obligation is considered fulfilled.

When can I claim tax relief?

You can claim tax relief if you concluded a participation contract after 01. 01. 2014 or if you signed an amendment to a valid participation contract for new conditions valid from 01. 01. 2014 introduced by the amendment to the Act on Supplementary Pension Savings and you are not a recipient of a supplementary old-age or retirement pension at the same time on the basis of the participation contract signed by 31. 12. 2013

Thanks to the tax relief, you can deduct up to 180 EUR of your own contributions from the tax base each year, thus saving 34.20 EUR on income tax.

Attention: if you use early withdrawal and have claimed a deductible item since 2014, you are obliged to return the applied tax relief.