The tax credit's biggest enemy isn't the law – it's a skipped declaration. The amount doesn't arrive on its own: you have to declare it in your annual personal income tax return – five minutes, if you know where to look. This article shows you exactly that.
- The declaration has to be made in your annual personal income tax return – the filing deadline is typically May 20.
- The insurer sends a certificate early in the year covering the previous year's payments – in the draft return, you need to check the declaration block and fill it in if necessary.
- NAV transfers the credit directly to the insurer after processing the return – it then appears on your policy.
The process, step by step
- Early in the year, the insurer's certificate for the previous year's payments arrives – in your electronic account or by post.
- NAV prepares the draft tax return; anyone can review and amend it until May.
- In the declaration section of the draft, check the pension insurance block: based on the insurer's data reporting, it's often pre-filled – but not always, so checking it is a step you can't skip.
- If it's empty, fill it in based on the certificate: insurer, policy number, the amount you want to declare.
- Submit by the deadline – typically May 20 – and once it's processed, the amount goes to the insurer and is credited to your policy.
For the detailed, checkable version: the checklist from our Resources page.
Typical mistakes
- An accepted draft with an empty declaration: letting your draft return go into effect without looking it over can cost you that year's credit – checking the declaration block before accepting the draft is a mandatory step.
- Not enough personal income tax paid: the credit only applies up to the amount of tax actually paid – other tax allowances (such as the family tax allowance) can reduce the tax available to draw on.
- Poor cap-splitting: with more than one supported product, you need to watch the shared ceiling (details).
- A lost certificate: the insurer's certificate can be reissued, but it takes time – rather than regularly clearing out your e-account, it's worth filing it away.
There isn't much bad news here: for anyone who makes the declaration, the process runs like clockwork in practice.
When does the money arrive?
NAV transfers the credit to the insurer after the return is processed – provided you have no recorded tax debt and you have paid the tax due according to your return; this typically happens in the weeks to months following the filing period. The amount doesn't appear in your bank account – it appears on your policy, and from then on it works alongside the rest of your savings.
It's worth checking once a year – for example during the anniversary quarter-hour – whether the previous year's credit shows up on your policy statement. If it hasn't, the insurer's customer service and NAV's customer service can help; and if things get stuck, that's where I come in.
My role in the annual routine
Before the filing period, it's worth checking where to find the declaration block and what to do if your contract doesn't show up in the draft – if you have questions, I'm happy to help. The first time is the hardest – after that, it's a five-minute routine every year.
The details of your personal tax situation – other allowances, an unusual income structure – are the accountant's territory: that's what the accountant question list is for. The bottom line: the credit belongs to whoever asks for it – so ask.
A question about your own situation? Book a free 20-minute consultation →
