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Savings for Retirement

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Savings for Retirement through participating funds – Supplementary pension savings

  • intended for all adults regardless of nationality or citizenship.

Savings for Retirement through retirement funds – Pension savings

  • intended for everyone between the ages of 18 and 35 with permanent public health insurance in the Czech Republic.

Characteristics of Savings for Retirement:

Supplementary pension savings (Third Pillar)
  • refers to retirement savings through participating funds, generating returns on contributions according to the selected savings strategy. This option allows contributions from employers, state contributions and tax exemptions.
Pension savings (Second Pillar)
  • refers to retirement savings through retirement funds, generating returns on the participant's individual savings account based on pay-as-you-go contributions (3%), also referred to as the opt-out system. This system requires the client to pay a contribution of another 2% of his/her gross wage.
Parameters of Savings for Retirement and funds:
Pension savings (Third Pillar): Transformed fund and Participating funds
  • The transformed fund is derived from the pension fund, which was active until the end of 2012. Citizens commit their funds to the transformed fund, provided the Pension Insurance Agreement was signed before 1 December 2012.
  • Participating funds:
    • KB Dynamic Participating Fund
    • KB Balanced Participating Fund
    • KB Dynamic Participating Fund
    • KB Guaranteed Participating Fund
Pension savings (Second Pillar): retirement funds
  • The Second Pillar involves the client making a voluntary decision to transfer 3% from the First Pillar (contributions of 25% will remain in the First Pillar) + 2% from the client's gross wage to his/her individual savings account.
  • The client can enter the Second Pillar at any time before turning 35 years of age.
  • After the participant retires, payments are solely in the form of a pension. Lifelong or 20-year pension.
  • Retirement funds:
    • KB Dynamic Retirement Fund
    • KB Balanced Retirement Fund
    • KB Conservative Retirement Fund
    • KB Government Bond Retirement Fund
Savings strategy
  • The client's funds generate returns in the Second and Third Pillars based on the selected savings strategy. It is entirely up to the client whether a conservative strategy, or a more profitable fund with a higher risk is selected. Life cycle strategies may also be selected. Life cycle strategies refer to savings strategies that automatically allocate financial market tools (stocks, bonds and monetary market tools) as the participant's retirement date draws closer, or as the client becomes entitled to a benefit payment:
    • Conservative life cycle strategy
    • Balanced life cycle strategy
    • Growth life cycle strategy*
  • The client can also select his/her own individual strategy and adjust this strategy free of charge with KB PS.

* Previous yields do not guarantee yields in the future.

Benefits of Savings for Retirement

Supplementary pension savings (Third Pillar)
  • state contribution and tax exemptions
  • employer contribution
  • employer pension contributions are not subject to taxation
  • bonus for clients: 1% of each payment using a KB credit card (Lady Card and A Card) credited to the client’s pension savings account with KB PS
  • Sphere Discount Card free of charge
  • compensation for pension insurance no longer available from the product portfolio
Pension savings (Second Pillar)
  • 3% mandatory contributions go to the client's individual savings account
  • funds from the savings account belong to the client or the client's heirs
  • the client chooses the savings management strategy
Other benefits
Transfer within the Third Pillar
  • Participants of the transformed fund have the option of transferring to participating funds at any time. A transfer vice versa is not possible as transformed funds are closed for new entries.
Early pension
  • The benefit of saving through participating funds within the Third Pillar offers the option of withdrawing savings in the form of an early pension. Clients can take advantage of this option as early as 5 years prior to their scheduled retirement. The government additionally covers the health insurance premium for this period. An early pension does not affect the future amount received during retirement (contrary to early retirement).
Pension insurance coverage
  • Clients have the option of taking out pension insurance coverage to cover unexpected life situations - loss of employment, inability to work or permanent disability. If something happens, the insurance company will cover contributions to the Second and/or Third Pillar.

Savings for Retirement with KB PS

  • KB PS ranks among the largest companies to offer Savings for Retirement products on the Czech market.
  • KB PS manages assets exceeding a value of CZK 36 billion for more than 560 thousand savings participants
  • the savings strategy can be adjusted free of charge at any time throughout the year
  • discount spa and recreational treatment offers from KB PS partners
  • pension insurance coverage available

How to get any of the Savings for Retirement products?

  • Contact your 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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