I was at the airport waiting for my flight. I was reading my documents.
Two men in suits, 50+, carrying briefcases came and sat beside me.

“If it goes on like this, the Pension Fund conversion factor will soon be 0.0”, said the smaller of the two.

“Yes, that’s quite possible” replied the other. “Then it won’t be worth drawing a pension. One would have to withdraw the capital.”

“You’re quite right, if the capital is withdrawn, it’s taxed at a lower rate.To make the most of that, perhaps shortly before doing so one should move somewhere abroad, where it is not taxed at all.” Continue reading →