Clever planning secures your future: Maximise retirement assets when withdrawing them
Retirement assets are saved up during employment, often for a pension or better retirement provision. Besides government levies, old-age and survivors’ insurance (OASI) contributions (pillar 1) and employers’ contributions to the pension fund (pillar 2), employed persons with an income subject to OASI contributions can also pay into pillar 3 – the tied pillar 3a retirement provision – and in turn deduct the contributions from taxable income.