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Savings for Retirement

A financially secure retirement.

Savings for Retirement are intended for:

  • Individuals aged 18 years and over with permanent residence within the Czech Republic
  • Individuals aged 18 years and over residing within the territory of another member state of the European Union (with pension or public health insurance in the Czech Republic)
  • Legal entities, on subsidiary basis, as an employee program

Characteristics of the Savings for Retirement:

Second Pillar / Third Pillar

  • Pension savings (Second Pillar)
    • It refers to individual investments into retirement funds, which generate returns on financial funds opted out from the pay-as-you-go system (3%), i.e. the so-called opt-out. The precondition for participating within the Second Pillar is the contribution of addition 2% of gross wage.
  • Supplementary pension savings (Third Pillar)
    • It refers to individual investments into participating funds. The person’s own contributions may be increased by employer’s contributions, state contributions, whereas the possibility of tax exemptions is preserved.
Parameters of the Second Pillar / Third Pillar and their funds

Pension savings (Second Pillar)

  • Voluntary decision for the opt-out of 3% from the First Pillar (contributions of 25% will remain within the First Pillar) + own contributions of 2% of gross wage for the benefit of the participant’s individual account (referred to as the opt-out).
  • It is possible to enter into the scheme at any time before reaching the age of 35.
  • Payment of savings solely in the form of pension after the participant’s retirement. Lifelong or 20-year pension.

Pension funds within the Second Pillar

  • KB Government Bond Retirement Fund
  • KB Conservative Retirement Fund
  • KB Balanced Retirement Fund
  • KB Dynamic Retirement Fund

Supplementary pension savings (Third Pillar)

Transformed fund

Formed from the pension fund, preserving the following conditions:

  • Guaranteed return of invested funds;
  • Retirement and survivor pension
  • Nonrecurring settlement in line with the relevant Pension Scheme;
  • Nonrecurring contributions and payment to beneficiaries.

Participating funds

  • KB Mandatory Conservative Participating Fund
  • KB Balanced Participating Fund
  • KB Dynamic Participating Fund 
  • KB Guaranteed Participating Fund

Participating funds do not offer:

  • Guarantee of return of invested funds
  • Retirement and survivor pension

Participating funds and the Transformed fund ensure

  • State contributions;
  • Tax exemptions;
  • Possible employer’s contributions; and
  • Right to inheritance.
Savings Strategy

With regard to the Second Pillar/Third Pillar, your financial funds are subject to valuation based on the selected savings strategy. The choice of the relevant savings strategy is solely up to you. Choose from highly conservative funds on the one hand, or funds that provide higher returns at higher risk, on the other hand.

You may also take advantage of one of the lifecycle strategies, which always ensure the optimum allocation of the invested funds based on our age.*

  • Conservative lifecycle strategy
  • Balanced lifecycle strategy
  • Growth lifecycle strategy

Furthermore, you may also design your own individual strategy. The selected strategy may be modified at any time with KB PS. Based on the selected strategy, your funds will be allocated to retirement (within the Second Pillar) or participating (within the Third Pillar) funds.

* Past performance is not a guarantee of future returns.

Benefits of the Savings for Retirement

Pension savings (Second Pillar)
  • 3% not paid to the state – but contributed to your individual savings account instead
  • Any savings are yours or will be paid out to your heirs
  • You may decide about the management strategy for your financial funds
Supplementary pension savings (Third Pillar)
  • State contribution and tax exemptions
  • Possible employer’s contribution
  • Employer’s contributions are not subject to taxation in case of the payment in the form of pension
  • Bonus for clients: 1% of each payment using a KB credit card (Lady Card, A Card) awarded to a client’s pension account with KB PS
  • Sphere Card free of charge
Savings for Retirement with KB Penzijní společnost, a.s. (KB PS)
  • KB PS is one of the largest companies on the pension products market
  • KB PS was formed as of 1 January 2013 through the transformation of Penzijní fond Komerční banky, a.s.
  • KB PS manages assets exceeding CZK 32 billion for more than 550 thousand participants
  • Savings strategy in KB PS may be modified twice a year FREE OF CHARGE
  • Low management fees compared to other investments
  • Online access to your account
  • Spa and recreational care residential programs from KB PS partners at beneficial terms
  • Possible pension insurance

Other benefits:

  • Transfer within the Third Pillar
    • Participants of the transformed fund may transfer to participating funds at any time.
  • Early pension
    • The advantage of savings in participating funds within the Third Pillar is the possibility to draw on the savings in the form of an early pension. It is possible to take advantage of this option no more than 5 years prior to ordinary old-age retirement. Furthermore, the state covers your health insurance during the period in question. The amount of the future old-age pension is not affected by the early pension (contrary to early retirement).
  • Pension insurance coverage
    • Take out Pension insurance coverage to cover unexpected adverse situations in life – loss of employment, inability to work, or permanent disability. In case of unexpected events, the insurance company will cover your contributions to the Second Pillar and/or Third Pillar. Pension insurance coverage will thus allow you to maintain the same standard of living in the retirement.

How to get any of the Savings for Retirement products?

  • Contact your KB relationship manager or MPSS relationship manager
  • Call the toll-free KB Info Line 800 521 521

Use the Business Service KB, within which we are happy to advise you and help you set other products and services tailored to your business.


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