New investment into salary savings no longer possible

Next year, employees can no longer invest money for tax-friendly savings via the employee saving scheme (in dutch this is called: spaarloon).

Savings that are already invested under the favourable tax regime will remain.

That was made clear by the State Secretary of Finance Frans Weekers on Friday. The restriction of the savings is necessary to reduce the transfer tax to pay.

Ultimately, the savings scheme will be absorbed into the new vitality system “vitaliteitsregeling”. Under the government agreement, the life-course savings scheme for leave-saving will also fall under this system. The new scheme should from 2013 at the earliest help employees with freeing up time and money for other responsibilities, training, setting up their own businesses or part-time pension.

In the coming years, the savings already accrued under the current system will be partially released annually. After four years, the employee saving scheme will be completely gone.

Source: ANP