How are repayments made on the normal maturity date of a old-age pension contract taxed?

At the normal maturity of a contract (provided that all the conditions of article 111bis or 111ter L.I.R. are met, in particular a minimum duration of 10 years and an age between 60 and 75), the benefits may be repaid in the form of capital, annual withdrawals or a life annuity.

The capital and annual withdrawals are treated as miscellaneous income and taxed at half the overall rate applicable to the taxpayer.

Life annuities are taxed at 50%, the other half being exempt, with the normal rate being applied to the taxable portion.

Updated on: 16/07/2025