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add how-much to voluntary pension section
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sam-hosseini committed May 17, 2024
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Expand Up @@ -667,7 +667,8 @@ Some available dental care providers:

**What is it?** On top of [YEL](#buy-social-security-insurance-yel), which is mandatory, you can buy *voluntary pension insurance*.

* The cost is tax-deductible up to 8500€ per year. Premiums above this will be taxed as personal income for you/the employee.
**How much?** Depends on the coverage you choose. The higher the coverage, the more you pay in premiums. Premiums are a business expense and fully tax-deductible up to 8,500€/year. Above this limit, premiums will be taxed as personal income for you, the `self-employed`.

* The pension has to be paid out during at least 10 years of time.
* The start of payouts can happen at 70 years of age, for people born 1962 or later, or slightly earlier if you are born at an earlier date. See the linked page for more details.
* A life insurance can be included with the insurance, so that your spouse or other beneficiary can inherit the full value of the insurance you have accumulated if you die before reaching the pension age. This is an important difference from YEL and TyEL, where your accumulated pension money more or less "disappears" into the system whenever you die.
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