Cookie Policyhttps://www.bil.com/en/Lists/BILInternetAlerts/DispForm.aspx?ID=1Cookie PolicyCookies are used to ensure that BIL's online services work correctly. By not disabling cookies you are consenting to their use on your computer.1

/PublishingImages/site-particuliers/header-moments-cles.jpg

Key moments

With BIL, you make the right choices for making the most of your personal situation.

A relationship manager is dedicated to each of our clients. The relationship manager is available to advise you on your private plans (wealth management, property purchases, tax management, retirement savings).

With your interests at heart, the relationship manager offers you guidance by drawing on the experience and expertise of BIL's teams and its specialist partners: Private banking, leasing, insurance, tax management, etc.

Your BIL relationship manager is your dedicated point of contact for all your banking and financial needs.

 

 

Your first jobhttps://www.bil.com/en/individuals/key-moments/Pages/your-first-job.aspxYour first job<!-- section : contenu --> <div class="section-default"> <div class="page-wrapper"> <h2 class="title-1">How to start off on the right foot ?</h2> <p>When you land your first job, there are many projects to attend to: a place to live, a car, travel, miscellaneous purchases, etc. To bring these about while avoiding unpleasant surprises or unnecessary spending, these plans must be thought out and handled properly.</p> <ul class="list-accordion"> <li> <h3 class="list-accordion-title">Managing your finances</h3> <div class="list-accordion-content"> <p>While your first job means new income, it also comes with new expenses tied to your changing needs. You will thus need to find ways to manage your spending. BIL offers a wide range of products to best meet your needs.</p> <h4 class="title-3">Your accounts</h4> <p>To adapt to your new situation, we strongly recommend you choose a current account that is suited to your status as a young professional. In order to start off in your new life, BIL offers you free products and services in its B-active package</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/dedicated-offers/youth/Pages/b-active.aspx">B-active Package</a></p> <h4 class="title-3">Tracking your accounts</h4> <p>Are you mobile and connected? So is BIL. Carry out your banking transactions online with BILnet and track your spending with SMS banking. Access to BILnet and BILnet Mobile is free and secure with a LuxTrust Token.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/managing-day-to-day-finances/Pages/online-bank.aspx">Discover Online Banking</a></p> <h4 class="title-3">Bank cards</h4> <p>BIL offers you several types of debit and credit cards.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/managing-day-to-day-finances/Pages/credit-cards.aspx">Compare the cards</a></p> <h4 class="title-3">ATM cash deposit</h4> <p>With the Servibank+ network, you can make cash deposits at any time on these next generation machines. This service is available 24/7, and your deposits are booked in real time. This will make life easier!</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Find a branch</a></p> </div> </li> <li> <h3 class="list-accordion-title">Achieving your goals and preparing for your future</h3> <div class="list-accordion-content"> <p>You have landed your first job and want to spread your wings. BIL will help you achieve your goals with an offering of suitable products and services.</p> <h4 class="title-3">Youth Savings account</h4> <p>If you want to build up capital or you have funds to invest for the short term, a youth savings account is for you.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/youth-savings.aspx">Find out more</a></p> <h4 class="title-3">Car loan</h4> <p>You need to buy a new or second-hand car and want to finance it with a car loan. BIL has you covered.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/borrow/Pages/personal-car-loan.aspx">Find out more</a></p> <h4 class="title-3">Wüstenrot mortgage savings</h4> <p>The Wüstenrot mortgage savings plan lets you save towards a property purchase while enjoying an attractive tax allowance. When you take out your mortgage loan, you benefit from an advantageous fixed rate, determined at the time you join the savings plan.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/mortgage-savings.aspx">Find out more</a></p> <h4 class="title-3">Life insurance</h4> <p>Our life insurance lets you access BIL fund returns to prepare for your future, while keeping your family safe. You benefit from an extra guarantee: our death cover guarantees your beneficiary the repayment of 130% at least of premiums paid, less any partial surrender. The term of the policy is set at 10 years. When the policy matures, you receive your savings in the form of a lump sum.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/invest/Pages/life-insurance.aspx">Find out more</a></p> <h4 class="title-3">Savings Plus</h4> <p>Grow your savings with a Savings Plus account. It allows you to save with little risk and a better return than a conventional savings account, while keeping your capital within easy reach. Your savings can be conveniently tracked on BILnet.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/savings-accounts.aspx">Find out more</a></p> <h4 class="title-3">European Youth Card</h4> <p>BIL offers the youth card to its clients aged 12 to 30. It is valid for a year and gives you many advantages all over Europe.</p> </div> </li> <li> <h3 class="list-accordion-title">Starting a business</h3> <div class="list-accordion-content"> <p>Whether you plan to start your own company or take over an existing one, you should ask yourself the right questions in order to plan efficiently</p> <h4 class="title-3">Business Plan</h4> <p>The creation or takeover of a company must be done in the context of a business plan, which is a strategy and communication tool.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/corporations/small-and-medium-sized-enterprises/Pages/create.aspx">Find out more</a></p> <h4 class="title-3">Legal form</h4> <p>Choosing a legal form which is suited to the project is important, since it influences the operation and structure of your project. It also determines your level of responsibility as a business owner.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/corporations/small-and-medium-sized-enterprises/Pages/create.aspx">Find out more</a></p> </div> </li> <li> <h3 class="list-accordion-title">Check-list</h3> <div class="list-accordion-content"> <p>Here is a list of things to consider when you get your first job:</p> <div class="grid-adaptive"> <div class="sub-column-50"> <h4 class="title-3">Banking issues</h4> <ul class="list-check"> <li>Current accounts</li> <li>Bank cards</li> <li>Invoice management</li> </ul> <h4 class="title-3">Savings</h4> <ul class="list-check"> <li>Savings Plus and Youth Savings Plus</li> <li>Wüstenrot mortgage savings plan</li> </ul> <h4 class="title-3">Other financial issues</h4> <ul class="list-check"> <li>Invoice management</li> <li>Car loan</li> </ul> <h4 class="title-3">Home loans</h4> <ul class="list-check"> <li>Tenancy agreement</li> <li>Inventory of fixtures</li> <li>Rent deposit</li> </ul> </div> <div class="sub-column-50"> <h4 class="title-3">Taxation</h4> <ul class="list-check"> <li>Tax classes</li> <li>Tax deduction</li> </ul> <h4 class="title-3">Government incentives</h4> <ul class="list-check"> <li>Rent deposit</li> <li>Housing benefits</li> </ul> <h4 class="title-3">Expert involvement</h4> <ul class="list-check"> <li>Financial advisers</li> </ul> </div> </div> </div> </li> </ul> <h3 class="title-3">Useful addresses</h3> <ul class="list-1"> <li><a href="http://www.guichet.public.lu/entreprises/en/creation-developpement/index.html" target="_blank">Starting up & Development - Gouvernement du Grand-Duché de Luxembourg</a></li> <li><a href="http://www.guichet.public.lu/citoyens/fr/logement/location/index.html" target="_blank">Location - Gouvernement du Grand-Duché de Luxembourg</a></li> <li><a href="http://www.impotsdirects.public.lu/" target="_blank">Administration des Contributions Directes</a></li> <li><a href="http://www.cc.lu/en/starting-up-my-business/" target="_blank">Starting up my business - Chambre de Commerce</a></li> <li><a href="http://www.cartejeunes.lu" target="_blank">Carte Jeunes Européenne</a></li> </ul> </div> </div> <!-- section : télécharger <div class="section-default is-silver"> <div class="page-wrapper"> <div class="grid-adaptive"> <div class="sub-column-70"> <p class="text-big">Read all about this topic in our brochure</p> </div> <div class="sub-column-30"> <p><a class="btn-default" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL-brochure-premier-emploi-en.pdf" target="_blank">Download the brochure</a></p> </div> </div> </div> </div>-->
Prepare for the birth of your childhttps://www.bil.com/en/individuals/key-moments/Pages/prepare-for-the-birth-of-your-child.aspxPrepare for the birth of your child<!-- section : contenu --> <!-- section : nous joindre --> <div class="section-default"> <div class="page-wrapper"> <h2 class="title-1">Getting ready for your new baby</h2> <p>Congratulations, you are looking forward to a happy event. Once you have taken in the good news, it is time to take various steps to prepare for the new arrival under the best possible conditions. Let us start with matters relating to your job.</p> <ul class="list-accordion"> <li> <h3 class="list-accordion-title">Preparing for the birth</h3> <div class="list-accordion-content"> <h4 class="title-3">Job-related measures</h4> <p>Congratulations, you are looking forward to a happy event. Once you have taken in the good news, it is time to take various steps to prepare for the new arrival under the best possible conditions. Let us start with matters relating to your job.</p> <h4 class="title-4">Notifying your employer of your pregnancy</h4> <p>By law you can choose the most appropriate time for informing your employer that you are pregnant. You should inform your employer by recorded delivery letter with acknowledgement of receipt. Alternatively, you can deliver the letter by hand in exchange for a signed copy. In the letter you should indicate the anticipated date of the birth and the expected dates of your maternity leave. Enclose a pregnancy certificate from your doctor.</p> <p>As soon as your employer receives your pregnancy certificate, you cannot be dismissed until 12 weeks after the birth.</p> <h4 class="title-4">Medical consultations during working hours</h4> <p>All pregnant women are allowed time off work to attend the medical examinations listed below if they must take place during working hours:</p> <ul class="list-1"> <li>A dental check-up as soon as the mother-to-be becomes aware of her condition, but not later than the fifth month of pregnancy;</li> <li>The first check-up, which takes place before the end of the third month;</li> <li>The second check-up, which must take place no later than the second half of the fourth month;</li> <li>The third check-up, which should take place during the sixth month;</li> <li>The fourth check-up, which takes place during the first half of the eighth month;</li> <li>The fifth and final check-up, which is scheduled for the first half of the ninth month.</li> </ul> <p>This time off is considered to be an integral part of your usual working hours and is paid as such.</p> <h4 class="title-4">How maternity leave works</h4> <p>You are entitled to eight weeks' prenatal maternity leave and eight weeks’ postnatal maternity leave.</p> <p>Postnatal maternity leave can be extended by four weeks if the baby is born prematurely (before the 37th week), in the event of a multiple birth or if breastfeeding. The employee concerned is prohibited from working during maternity leave. If the baby is born before the due date, unused prenatal leave days are carried forward to postnatal leave.</p> <p>The employee must send the CNS a medical certificate indicating the due date for the birth. This certificate must be issued during the final 12 weeks of pregnancy. After the birth you should send a copy of the birth certificate to the CNS.</p> <p><strong>Caisse nationale de santé (CNS)</strong><br>Department: Benefits in cash<br>L-2979 Luxembourg</p> <h4 class="title-4">How parental leave works</h4> <p>See “Things to do after the birth”</p> <h4 class="title-3">Organising childcare</h4> <p>Childcare is frequently something of a minefield for parents. Finding a suitable childcare centre can take up a lot of time and energy. First you need to decide what type of childcare centre you want for your child.</p> <p>You need to start looking as soon as you can. Demand for infant care centres is greater than the supply available. For this reason we recommend that you start looking after the third month of your pregnancy. A list of government-registered and non-government registered childcare centres, parental assistants (Dageselteren) and after-school care centres is available on the website <a href="http://www.guichet.public.lu" target="_blank">www.guichet.public.lu</a>.</p> <p>These care centres and home care solutions take various forms:</p> <h4 class="title-4">Creches (0 – 4 years)</h4> <p>The Ministry for the Family, Integration and the Grande Région defines as a creche any non-residential educational childcare service for children below age four, and for pre-school children.</p> <p>In Luxembourg, creches can be government-registered and subsidised, or run by the private sector. Find out what services your centre offers, and the cost of caring for your child. This cost can be substantial.</p> <h4 class="title-4">Childminders (0 – 6 years)</h4> <p>A childminder's role is looking after young children up to the age of six, usually at the parents' home. The childminder is responsible for your child's development for a few hours or for the whole day. She must ensure that the child's awareness and well-being are fostered through suitable play and activities. Many childminders are independent and are paid directly by the parents. Others work for an organisation such as a creche.</p> <p>Rather than relying on your personal impression, use a registered childminder. If you can, try to get references from parents who have already used the services of the person concerned.</p> <h4 class="title-4">Parental assistants (< 18 years)</h4> <p>Parental assistance consists of caring for minor children on a regular, paid basis. Depending on the age of the child being cared for, this may include the following activities:</p> <ul class="list-1"> <li>Supervision while resting and sleeping;</li> <li>Care and supervision if the child is ill; </li><li>Care during set times agreed between the parties, usually outside school hours;</li> <li>Meals, comprising two main meals and snacks;</li> <li>Supervising and organising activities of a social and educational nature;</li> <li>Help with homework.</li> </ul> <p>A list of parental assistants operating in Luxembourg can be downloaded from the website <a href="http://www.guichet.public.lu" target="_blank">www.guichet.public.lu</a>.</p> <p>Contact the Dageselteren agency for more information about parental assistance.</p> <p><strong>Agence Dageselteren</strong><br>11, rue du Fort Bourbon / L-1249 Luxembourg<br>Tél. : (+352) 26 20 27 94 – 1<br>Website: <a href="http://www.dageselteren.lu" target="_blank">www.dageselteren.lu</a>.</p> <h4 class="title-4">Child day care centres (4 – 12 years)</h4> <p>A child day care centre is defined as any service that provides non-residential educational care for children in therapeutic care, pre-school and primary children at a professional centre outside school hours and during school holidays. For more information you should contact the Entente des Foyers de Jour asbl.</p> <p><strong>Entente des Foyers de Jour asbl</strong><br>4, rue Jos Felten / L-1508 Luxembourg<br>Tél. : (+352) 46 08 08-360<br>Website: <a href="http://www.efj-formation.lu" target="_blank">www.efj-formation.lu</a>.</p> <h4 class="title-4">Nursery (< 8 years)</h4> <p>A nursery is defined as any service that provides spontaneous non-residential care and learning for children up to the age of eight at a professional centre, for up to 16 hours a week per child. For more information, contact the Entente des Foyers de Jour asbl.</p> <h4 class="title-4">After-school care (< 18 years old)</h4> <p>After-school care centres provide temporary non-residential social and educational care for children and young people up to age 18. The after-school care system is a local authority-run system that organises after-school care for children and the young. It is intended for families that live in the commune and for children attending school in the commune. After-school care centres offer a comprehensive range of services, such as:</p> <ul class="list-1"> <li>Remaining open and welcoming students, normally outside school hours;</li> <li>Meals, including lunch and snacks;</li> <li>Supervision and organisation of activities;</li> <li>Help with homework.</li> </ul> <p>Contact your commune if you need further information. A list of after-school care centres can be downloaded from the website <a href="http://www.guichet.public.lu" target="_blank">www.guichet.public.lu</a>.</p> <h4 class="title-3">Things to do before the birth</h4> <p>The birth is fast approaching and you still have a thousand and one things to do to get ready for your new arrival. If you don't know where to start, make sure you deal with the following as a priority:</p> <h4 class="title-4">Birth list</h4> <p>Don't leave drawing up a list of the things you will need for the baby until the very last minute. You really need plenty of time to think about and prepare a list of the most important things you will need for your baby and yourself. Ask friends for advice or make an appointment with specialist shops that offer a birth list service, preferably when the shop is not busy.</p> <p>Do not hesitate to test the various products, to see how they compare in use. There is no point buying a top-of-the-range pram if you are unable to fold it up on your own. First make a list of the items you will need for the first few months after the birth. Invite friends and family who would enjoy helping you choose the items on your list.</p> <p>To save money, remember to ask friends who already have children for help. Their attics are probably overflowing with unwanted items that would be of great use to you.</p> <h4 class="title-4">Birth announcement</h4> <p>Even with the internet, printed cards are still the most popular way of announcing a birth. To avoid a last-minute rush, start preparing your cards two months before the baby is due. If you are creative you can make them yourself, otherwise use a specialist greetings card maker. Your budget will depend on the size you choose, the text and the number of cards you order. First draw up a list of recipients and prepare the envelopes in advance.</p> <p>If you have left a birth list with a shop, remember to mention it on the card.</p> <h4 class="title-4">Getting your home ready</h4> <p>There is more to getting your home ready for your baby than choosing a colour for his or her bedroom. Cosy as it may be, your home could be full of dangers for your baby. A baby may not move much in the first few weeks, but will soon be crawling left, right and centre. Here are just some of the points you should bear in mind.</p> <ul class="list-1"> <li>Install a safety gate if you have stairs. This will mean you can let your baby explore the house without risking a fall. Make sure it closes firmly so that your child will not be able to just pull it open. Be sure to choose a gate that meets European safety standards;</li> <li>Fit electric socket covers. Children have a peculiar fascination for electric sockets and love poking their fingers and other objects into them. You must therefore buy vacuum or key-operated socket covers and remember to hide electric cables behind furniture;</li> <li>Make corners of tables and doors safe. Your child could get hurt by the corners of tables, cupboard doors and drawers. Fit protectors to the corners of your furniture so that your baby will not get hurt by bumping into them. For the same reason, fit cupboard and drawer locks.</li> <li>Keep small objects out of the reach of tiny fingers. Children will happily put anything they lay their hands on in their mouths. Keep an eye on them and place objects that they could swallow out of reach.</li> <li>Etc.</li> </ul> </div> </li> <li> <h3 class="list-accordion-title">Things to do after the birth</h3> <div class="list-accordion-content"> <h4 class="title-3">Registering the birth</h4> <p>All births must be registered with the clerk of the register of births and deaths in the commune in which the child is born, within five days of the birth. If the final day before the deadline is a Saturday, Sunday or public holiday, the deadline will be extended to the next business day.</p> <p>One of the parents must register the birth. Alternatively, a doctor, midwife or other person who was present at the birth (on presenting the Birth Notice issued by the doctor or midwife) may do this.</p> <p>The father is entitled to two extra days’ leave if he is a private employee, and four days if he is a civil servant, in which to register the birth with the various authorities. Mothers are automatically entitled to maternity leave.</p> <h4 class="title-3">Leave and special arrangements</h4> <p>When your child is born, the law imposes a number of arrangements so that you can enjoy your new status as parents to the full.</p> <h4 class="title-4">Maternity leave</h4> <p>See “Preparing for the birth”.</p> <h4 class="title-4">Leave for breastfeeding</h4> <p>If a mother is breastfeeding, postnatal leave is extended by four weeks. It will thus be for 12 weeks after the birth. To qualify you must send a medical certificate to the Caisse National de Santé confirming that you are breastfeeding. Your doctor cannot issue this certificate until five weeks after the birth. However, it must have been issued by the seventh week.</p> <p>If you take parental leave immediately after maternity leave, you must also send the Caisse Nationale des Prestations Familiales (CNPF) a medical certificate confirming that you are breastfeeding.</p> <h4 class="title-4">Returning to work while breastfeeding</h4> <p>Breastfeeding mothers are entitled to two breastfeeding breaks of 45 minutes per day of full-time working (once at the start of the day and once at the end of the day). If the only break during the working day is a one-hour break, or if mothers are unable to breastfeed in or around the workplace, the two breaks can be combined in one 90-minute period. Breastfeeding time is treated as working time and is paid at the normal rate.</p> <p>Your employer may require you to produce a medical certificate confirming that you are breastfeeding. (cf. <a href="http://www.sante.public.lu" target="_blank">www.sante.public.lu</a>).</p> <h4 class="title-4">Parental leave</h4> <p>Parental leave is an arrangement whereby parents are able to take a career break in order to devote themselves to raising their children for a certain period, with the guarantee of a flat-rate salary and the option of returning to their job at the end of the leave period. Parents who both work in the Grand Duchy of Luxembourg and meet the eligibility criteria both have an individual right to parental leave for the same child.</p> <p>Parental leave lasts for either six months (full time) or 12 months (part time). To claim parental leave, parents must meet a number of eligibility criteria. An applicant must therefore:</p> <ul class="list-1"> <li>Be the parent of a legitimate, natural, legitimised or adopted child aged five or more and in receipt of child benefits;</li> <li>Have their home and be permanently resident in Luxembourg.</li> </ul> <p>Cross-border workers may also apply for parental leave, under certain conditions. These include having been working in Luxembourg for at least 12 months at the time of the birth, and being in receipt of child benefit from the Caisse Nationale des Prestations Familiales (in Luxembourg) for the child concerned.</p> <h4 class="title-4">Request to be sent to the employer</h4> <p>The employer must receive the first request for parental leave at least two months before parental leave starts, by recorded delivery letter with acknowledgement of receipt. The employer cannot refuse to grant parental leave, except where the request has not been submitted in the statutory format and deadline.</p> <p>The employer cannot refuse to grant first parental leave that has been properly requested. It may however refuse to grant part-time parental leave over 12 months, and require the parent to take full-time leave (over six months). The employer may, in the case of second parental leave (i.e. parental leave not taken subsequent to maternity leave) require the parent to postpone the leave starting date.</p> <h4 class="title-4">Parental leave for the self-employed</h4> <p>Parents who are self-employed must notify the Caisse Nationale des Prestations Familiales of the starting date of their parental leave not later than two months before starting maternity leave, by recorded delivery letter with acknowledgement of receipt. They should enclose a sworn statement with their request.</p> <h4 class="title-3">Child benefits (source : www.cnpf.lu)</h4> <p>Birth allowances and child benefit are governed by Book 4 of the Luxembourg Social Security Code, which can be consulted on <a href="http://www.secu.lu" target="_blank">www.secu.lu</a>. Whether they are granted depends on where you are domiciled and your place of residence. Make sure you understand your rights so that you do not miss out on benefits.</p> <h4 class="title-4">Birth allowance</h4> <p>The purpose of the birth allowance is to prevent mother and baby having health problems resulting from the pregnancy and the birth. It also aims to reduce infant mortality by providing medical supervision from the start of pregnancy through to the child's second birthday.</p> <p>The birth of any viable child (gestation of six months or more) entitles the mother to a birth allowance. This is paid in three instalments:</p> <ul class="list-1"> <li>First instalment: prenatal allowance;</li> <li>Second instalment: birth allowance itself;</li> <li>Third instalment: postnatal allowance.</li> </ul> <p>On receipt of your request, a total birth allowance of EUR 1,740.09 (at 31 December 2013) is paid in three instalments of EUR 580.03. The payment of each instalment is subject to various criteria.</p> <h4 class="title-4">Prenatal allowance</h4> <p>To be eligible for a prenatal allowance, during her pregnancy the mother-to-be must undergo at least five check-ups by a gynaecologist and a dental check-up by a dentist.</p> <p>The first instalment of the birth allowance is paid provided that the mother-to-be is legally domiciled in Luxembourg or is affiliated to Luxembourg (non-resident) at the time of the last medical check-up, and sends the medical certificates issued by the examining doctor to the Caisse Nationale des Prestations Familiales.</p> <h4 class="title-4">The birth allowance itself</h4> <p>The second instalment is paid only if the mother-to-be is legally domiciled in Luxembourg or is affiliated to Luxembourg (non-resident) at the time of the birth.</p> <p>The mother must also undergo a postnatal medical examination by a gynaecologist the day after the birth at the earliest.</p> <h4 class="title-4">Postnatal allowance</h4> <p>The third instalment of the birth allowance is paid provided that the child is raised continuously in Luxembourg from birth until the age of two, or that at least one of the two non-resident parents is affiliated with Luxembourg on a continuous basis during this period.</p> <p>The child must also undergo two perinatal check-ups and four subsequent paediatric check-ups until the age of two.</p> <h4 class="title-4">Child benefit</h4> <p>Child benefit is normally reserved for any child actually residing continuously in Luxembourg and legally domiciled there. The right to child benefit may also arise in connection with a professional activity carried out by one of the parents in Luxembourg.</p> <p>The benefit is payable starting in the month of the birth until the child's 18th birthday. With the exception of the month of birth, the conditions for granting child benefit must be met on the first day of each month. The right to child benefit continues until the child's 27th birthday at the latest for students studying full time in secondary education and vocational secondary education.</p> <p>Child benefit is awarded irrespective of the family's income, and the amount varies depending on the number of children. To know what this amount is, you should refer to the social security entitlements in force. Since 2006, child benefit paid by the Caisse Nationale des Prestations Familiales has not been index-linked.</p> <p>For more information visit <a href="http://www.cnpf.lu" target="_blank">www.cnpf.lu</a>.</p> </div> </li> <li> <h3 class="list-accordion-title">Examining the tax implications</h3> <div class="list-accordion-content"> <h4 class="title-3">Tax bonuses for children</h4> <p>All families that are in receipt of child benefit and pay tax in Luxembourg are entitled to child tax bonuses. Paid by the Caisse Nationale des Prestations Familiales, the bonus is set at EUR 76.88 per month (at 31 March 2014) for each child in receipt of child benefits.</p> <p>The bonus consists of an automatic allocation, in the form of a benefit, of the child tax allowance and is deducted before employee PAYE. The tax bonus constitutes both a tax rebate and a child benefit. It is also paid to families that were not eligible for the tax allowance in the past.</p> <h4 class="title-3">Standard rate allowance for childcare costs</h4> <p>The standard rate allowance is a maximum of EUR 3,600 per tax year. It cannot exceed the costs actually incurred or EUR 300 per month. In terms of PAYE, resident employees may ask for a deduction to be added to their PAYE slip. Such a request should be submitted to the competent RTS (Retenue d’Impôts sur les Traitements et Salaires) tax office in the employee's place of domicile.</p> <p>The standard rate allowance may relate to three different types of cost. If the costs incurred are combined, the standard rate allowance may be granted once only.</p> <p>Source : <a href="http://www.impotsdirects.public.lu" target="_blank">www.impotsdirects.public.lu</a>.</p> <h4 class="title-3">Domestic services costs</h4> <p>Domestic services costs are the amounts incurred for cleaners, housekeepers and other persons in the home if they are employed either directly by the taxpayer or indirectly through a company or association. These persons must have been declared to the social security organisations and must mainly carry out domestic chores in the taxpayer's home.</p> <h4 class="title-3">Help and care costs resulting from dependency</h4> <p>The help and care costs resulting from dependency to be taken into account are the sums incurred in employing persons either directly by the taxpayer or indirectly through a company or association to provide the help and care needed as a result of the dependent condition of the taxpayer, her spouse if taxed jointly with her, or a child that makes them eligible for a tax allowance. The taxpayer must have declared any persons employed to the to the social security organisations.</p> <h4 class="title-3">Childcare costs</h4> <p>The childcare costs to be taken into account are the sums incurred for persons caring for a child around the clock, or on a day care basis, only if such care has been organised by an approved organisation, and for duly approved creches, day care centres and nurseries.</p> <p>Sums incurred in another EU member state are also treated as childcare costs if the persons and organisations providing such care have been approved by the competent authority in their country.</p> <p>The allowance is granted in relation to children eligible for a tax allowance (tax class) and aged under 15 on 1 January of the tax year. The age limits stipulated do not apply to disabled children.</p> <p>For further information see <a href="http://www.impotsdirects.public.lu" target="_blank">www.impotsdirects.public.lu</a>.</p> </div> </li> <li> <h3 class="list-accordion-title">Saving for your child</h3> <div class="list-accordion-content"> <h4 class="title-3">Billy Savings account</h4> <p>By making regular deposits into this savings account, you help your child build savings from an early age, as well as learn about money and saving. When your child reaches the age of 12, this account automatically converts to a young saver’s account but keeps the advantages of a Billy savings account. The account is frozen until the child reaches majority.</p> <p>In addition to being free, the Billy savings account offers benefits such as:</p> <ul class="list-check"> <li>A preferential interest rate;</li> <li>An investment growth bonus, calculated on any positive difference between the balance at the start of the year and that at the end of the year.</li> </ul> <p>At BIL, all children with a Billy savings account have automatic membership of the Billy Club. Until they are 12, members of the Billy Club enjoy super benefits with our partners. Your child will enjoy competitions, surprises and gifts all year round.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/youth-savings.aspx">Find out more</a></p> <h4 class="title-3">Juvena life insurance</h4> <p>This modern investment, in the form of a life insurance policy, will enable your child to draw on appreciable financial support when he or she embarks on his or her adult life.</p> <p>In addition, Juvena guarantees certain protection:</p> <ul class="list-check"> <li>You retain control over the policy for its entire term;</li> <li>You earn an attractive rate of return on your savings;</li> <li>In the event of the policyholder’s death, the insurance company continues to pay the premiums on the policyholder’s behalf.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/invest/Pages/life-insurance.aspx">Find out more</a></p> <h4 class="title-3">Wüstenrot mortgage savings</h4> <p>This is a savings account that will host early contributions to your child's future home.</p> <p>In addition to this, it provides you with a number of benefits:</p> <ul class="list-check"> <li>You benefit from an attractive interest rate on savings;</li> <li>Savers pay no account custody charges until their 20th birthday;</li> <li>You enjoy tax benefits.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/mortgage-savings.aspx">Find out more</a></p> </div> </li> </ul> <h3 class="title-3">Useful addresses</h3> <ul class="list-1"> <li><a href="http://www.csl.lu" target="_blank">Chambre des salariés</a></li> <li><a href="http://www.guichet.public.lu" target="_blank">Le guide administratif de l’Etat luxembourgeois</a></li> <li><a href="http://www.dageselteren.lu" target="_blank">Arcus asbl - am Déngscht vu Kanner, Jugend a Famill</a></li> <li><a href="http://www.cnpf.lu" target="_blank">Caisse nationale des Prestations familiales</a></li> <li><a href="http://www.secu.lu" target="_blank">Institutions de sécurité sociale</a></li> <li><a href="http://www.impotsdirects.public.lu" target="_blank">Administration des Contributions Directes</a></li> </ul> </div> </div> <!-- section : télécharger <div class="section-default is-silver"> <div class="page-wrapper"> <div class="grid-adaptive"> <div class="sub-column-70"> <p class="text-big">Read all about this topic in our brochure</p> </div> <div class="sub-column-30"> <p><a class="btn-default" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL-brochure-naissance-en.pdf" target="_blank">Download the brochure</a></p> </div> </div> </div> </div> -->
Home loanshttps://www.bil.com/en/individuals/key-moments/Pages/purchase-a-home.aspxHome loans<!-- section : contenu --> <!-- section : nous joindre --> <div class="section-default"> <div class="page-wrapper"> <h2 class="title-1">How to fund your project ?</h2> <p>Owning a home is often a goal or even a dream for many families. Careful preparation is needed if it is to become a reality. Property is a serious long-term investment requiring a reliable financial partner to help you identify your needs and analyse your financial situation.</p> <ul class="list-accordion"> <li> <h3 class="list-accordion-title">Different types of loan</h3> <div class="list-accordion-content"> <p>You can choose between variable-, revisable- and fixed-rate loans with all the benefits that each one presents.</p> <h4 class="title-3">Variable-rate loan</h4> <p>A variable-rate mortgage is the type of financing that most closely tracks changes in market rates. Interest rate fluctuations affect your monthly repayments, which will be adjusted accordingly (depending on whether money market rates rise or fall).</p> <h4 class="title-3">Fixed-rate loan</h4> <p>Completely independent of fluctuations in the market during the period chosen, this mortgage offers a fixed rate throughout the mortgage over a maximum period of 20 years. With this option, you have complete security against a rise in market interest rates. However, you will not benefit from any falls in market rates. Your monthly repayments remain constant until the loan matures. You avoid unpleasant surprises and can plan your family budget with more certainty.</p> <h4 class="title-3">Revisable-rate loan</h4> <p>Flexible and very popular, the revisable-rate mortgage allows you to keep the interest rate unchanged for a given period, at the end of which you decide whether to enter into a fixed-, variable- or revisable rate period.</p> <h4 class="title-3">Capped-rate loan</h4> <p>An innovative, efficient financing plan offering exclusive benefits:</p> <ul class="list-check"> <li>An attractive initial rate;</li> <li>Monthly repayments that fluctuate in line with the reference rate (falling if the reference rate falls);</li> <li>The guarantee that for a given period (e.g. the next 10 years), your interest rate will not exceed a predetermined limit.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/mortgage-savings.aspx">Simulate your loan</a></p> </div> </li> <li> <h3 class="list-accordion-title">Insurance</h3> <div class="list-accordion-content"> <h4 class="title-3">Mortgage protection insurance</h4> <p>In the event of death, your family will be able to continue living in the property without having to worry about its financing. Mortgage protection insurance is a secure solution as it covers the complete or partial repayment of your outstanding mortgage.</p> <h4 class="title-4">With your relationship manager you will establish:</h4> <ul class="list-check"> <li>The amount to be insured;</li> <li>The lease term;</li> <li>The payment frequency.</li> </ul> <h4 class="title-4">You will also have the option of taking out:</h4> <ul class="list-check"> <li>Supplementary accident insurance;</li> <li>Supplementary disability insurance.</li> </ul> <h4 class="title-3">Endowment policy</h4> <p>This endowment type of insurance provides for payment of:</p> <ul class="list-check"> <li>Either guaranteed death benefits plus profit-sharing if the policyholder dies before the policy matures;</li> <li>Or a guaranteed sum plus profit-sharing when the policy expires, if the policyholder is still living at that date.</li> </ul> <h4 class="title-3">Fully comprehensive home insurance</h4> <p>With fully comprehensive home insurance, your property is covered against major risks including fire. Optional cover can be taken out for specific needs. Policies available from different insurance companies generally protect against the following risks:</p> <ul class="list-check is-dualcolumn"> <li class="sub-column-50">Family civil liability;</li> <li class="sub-column-50">Window breaks and cracks;</li> <li class="sub-column-50">Property civil liability;</li> <li class="sub-column-50">Electric and electronic fittings;</li> <li class="sub-column-50">Legal protection;</li> <li class="sub-column-50">Home insurance;</li> <li class="sub-column-50">Fire and related perils;</li> <li class="sub-column-50">Theft;</li> <li class="sub-column-50">Storm, hail, pressure from snow and ice;</li> <li class="sub-column-50">Earthquake;</li> <li class="sub-column-50">Electrical damage;</li> <li class="sub-column-50">Consequential loss;</li> <li class="sub-column-50">Water damage;</li> <li class="sub-column-50">Contents damage.</li> </ul> <h4 class="title-3">Mortgage protection insurance</h4> <p>When you take out a mortgage it is important to buy insurance to protect your family. Depending on the choices you make, this policy will result in our paying off your mortgage in the event of your death. Your debt can therefore be partially or fully repaid. If you opt for periodic premiums, you can deduct them from your taxable income within the limit of EUR 672 per year and per household member.</p> <h4 class="title-3">Pre-financing of a Wüstenrot mortgage savings plan</h4> <p>This is a BIL home loan incorporating a Wüstenrot mortgage savings plan.</p> <p>It is a tax enhanced loan:</p> <ul class="list-check"> <li>Deduction of debit interest (same limit as for a standard mortgage);</li> <li>Tax deduction of payments made under the Wüstenrot mortgage savings plan (up to EUR 672 per household member);</li> <li>Guaranteed fixed rate throughout the term of the plan.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/mortgage-savings.aspx">Find out more</a></p> </div> </li> <li> <h3 class="list-accordion-title">BIL Immoplus Green</h3> <div class="list-accordion-content"> <p>It is now important to consider the environment when building or renovating a home. BIL supports you in your eco approach, allowing you to protect your budget from constantly rising energy costs.</p> <h4 class="title-3">Reduced interest rates available with Immoplus Green</h4> <ul class="list-check"> <li>Photovoltaic solar panels;</li> <li>Energy-related installation or renovation;</li> <li>Construction of a passive or low energy home.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contactez-nous</a></p> </div> </li> <li> <h3 class="list-accordion-title">Checklist</h3> <div class="list-accordion-content"> <p>Here is a checklist of things to consider when buying a property:</p> <div class="grid-adaptive"> <div class="sub-column-50"> <h4 class="title-3">Banking issues</h4> <ul class="list-check"> <li>Type of interest rate</li> <li>Mortgage insurance</li> <li>Fully comprehensive home insurance</li> </ul> <h4 class="title-3">Other financial issues</h4> <ul class="list-check"> <li>Personal contribution</li> <li>Guarantees</li> <li>Monthly repayments according to your income</li> </ul> <h4 class="title-3">Tax deductions</h4> <ul class="list-check"> <li>VAT reduction/refund</li> <li>Tax credit on notarial deeds</li> <li>Deduction of debit interest</li> <li>Mortgage protection insurance</li> <li>Other tax breaks</li> </ul> </div> <div class="sub-column-50"> <h4 class="title-3">Other costs arising from a property purchase</h4> <ul class="list-check"> <li>Notary’s fees</li> <li>Registration duty</li> <li>Land tax</li> <li>Local taxes</li> <li>Home insurance</li> </ul> <h4 class="title-3">Government incentives</h4> <ul class="list-check"> <li>Building and purchase grants</li> <li>Interest relief</li> <li>Improvement grant</li> <li>Savings premium</li> <li>Government guarantees</li> <li>Local incentives</li> <li>Other incentives</li> </ul> <h4 class="title-3">Expert involvement</h4> <ul class="list-check"> <li>Notary</li> <li>Bank adviser</li> </ul> </div> </div> </div> </li> </ul> <h3 class="title-3">Useful Adresses</h3> <ul class="list-1"> <li><a href="http://www.guichet.public.lu" target="_blank">Le guide administratif de l’Etat luxembourgeois</a></li> <li><a href="http://www.ml.public.lu" target="_blank">Ministère du Logement</a></li> <li><a href="http://www.notariat.lu" target="_blank">Chambre des Notaires</a></li> <li><a href="http://www.guichet.public.lu/citoyens/fr/logement/index.html" target="_blank">Logement - Gouvernement du Grand-Duché de Luxembourg</a></li> <li><a href="http://www.impotsdirects.public.lu/az/i/inter_debit/" target="_blank">Intérêts débiteurs - Administration des Contributions Directes</a></li> </ul> </div> </div> <!-- section : télécharger <div class="section-default is-silver"> <div class="page-wrapper"> <div class="grid-adaptive"> <div class="sub-column-70"> <p class="text-big">Read all about this topic in our brochure</p> </div> <div class="sub-column-30"> <p><a class="btn-default" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL-brochure-logement-en.pdf" target="_blank">Download the brochure</a></p> </div> </div> </div> </div> -->
Buying a second homehttps://www.bil.com/en/individuals/key-moments/Pages/buying-a-second-home.aspxBuying a second home<!-- section : nous joindre --> <div class="section-default"> <div class="page-wrapper"> <h2 class="title-1">How to fund your project ?</h2> <p>Owning a home is often a goal or even a dream for many families. Careful preparation is needed if it is to become a reality. Property is a serious long-term investment requiring a reliable financial partner to help you identify your needs and analyse your financial situation.</p> <ul class="list-accordion"> <li> <h3 class="list-accordion-title">Different types of loan</h3> <div class="list-accordion-content"> <p>You can choose between variable-, revisable- and fixed-rate loans with all the benefits that each one presents.</p> <h4 class="title-3">Variable-rate loan</h4> <p>A variable-rate mortgage is the type of financing that most closely tracks changes in market rates. Interest rate fluctuations affect your monthly repayments, which will be adjusted accordingly (depending on whether money market rates rise or fall).</p> <h4 class="title-3">Fixed-rate loan</h4> <p>Completely independent of fluctuations in the market during the period chosen, this mortgage offers a fixed rate throughout the mortgage over a maximum period of 20 years. With this option, you have complete security against a rise in market interest rates. However, you will not benefit from any falls in market rates. Your monthly repayments remain constant until the loan matures. You avoid unpleasant surprises and can plan your family budget with more certainty.</p> <h4 class="title-3">Revisable-rate loan</h4> <p>Flexible and very popular, the revisable-rate mortgage allows you to keep the interest rate unchanged for a given period, at the end of which you decide whether to enter into a fixed-, variable- or revisable rate period.</p> <h4 class="title-3">Capped-rate loan</h4> <p>An innovative, efficient financing plan offering exclusive benefits:</p> <ul class="list-check"> <li>An attractive initial rate;</li> <li>Monthly repayments that fluctuate in line with the reference rate (falling if the reference rate falls);</li> <li>The guarantee that for a given period (e.g. the next 10 years), your interest rate will not exceed a predetermined limit.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/mortgage-savings.aspx">Simulate your loan</a></p> </div> </li> <li> <h3 class="list-accordion-title">Insurance</h3> <div class="list-accordion-content"> <h4 class="title-3">Mortgage protection insurance</h4> <p>In the event of death, your family will be able to continue living in the property without having to worry about its financing. Mortgage protection insurance is a secure solution as it covers the complete or partial repayment of your outstanding mortgage.</p> <h4 class="title-4">With your relationship manager you will establish:</h4> <ul class="list-check"> <li>The amount to be insured;</li> <li>The lease term;</li> <li>The payment frequency.</li> </ul> <h4 class="title-4">You will also have the option of taking out:</h4> <ul class="list-check"> <li>Supplementary accident insurance;</li> <li>Supplementary disability insurance.</li> </ul> <h4 class="title-3">Endowment policy</h4> <p>This endowment type of insurance provides for payment of:</p> <ul class="list-check"> <li>Either guaranteed death benefits plus profit-sharing if the policyholder dies before the policy matures;</li> <li>Or a guaranteed sum plus profit-sharing when the policy expires, if the policyholder is still living at that date.</li> </ul> <h4 class="title-3">Fully comprehensive home insurance</h4> <p>With fully comprehensive home insurance, your property is covered against major risks including fire. Optional cover can be taken out for specific needs. Policies available from different insurance companies generally protect against the following risks:</p> <ul class="list-check is-dualcolumn"> <li class="sub-column-50">Family civil liability;</li> <li class="sub-column-50">Window breaks and cracks;</li> <li class="sub-column-50">Property civil liability;</li> <li class="sub-column-50">Electric and electronic fittings;</li> <li class="sub-column-50">Legal protection;</li> <li class="sub-column-50">Home insurance;</li> <li class="sub-column-50">Fire and related perils;</li> <li class="sub-column-50">Theft;</li> <li class="sub-column-50">Storm, hail, pressure from snow and ice;</li> <li class="sub-column-50">Earthquake;</li> <li class="sub-column-50">Electrical damage;</li> <li class="sub-column-50">Consequential loss;</li> <li class="sub-column-50">Water damage;</li> <li class="sub-column-50">Contents damage.</li> </ul> <h4 class="title-3">Mortgage protection insurance</h4> <p>When you take out a mortgage it is important to buy insurance to protect your family. Depending on the choices you make, this policy will result in our paying off your mortgage in the event of your death. Your debt can therefore be partially or fully repaid. If you opt for periodic premiums, you can deduct them from your taxable income within the limit of EUR 672 per year and per household member.</p> <h4 class="title-3">Pre-financing of a Wüstenrot mortgage savings plan</h4> <p>This is a BIL home loan incorporating a Wüstenrot mortgage savings plan.</p> <p>It is a tax enhanced loan:</p> <ul class="list-check"> <li>Deduction of debit interest (same limit as for a standard mortgage);</li> <li>Tax deduction of payments made under the Wüstenrot mortgage savings plan (up to EUR 672 per household member);</li> <li>Guaranteed fixed rate throughout the term of the plan.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/mortgage-savings.aspx">Find out more</a></p> </div> </li> <li> <h3 class="list-accordion-title">BIL Immoplus Green</h3> <div class="list-accordion-content"> <p>It is now important to consider the environment when building or renovating a home. BIL supports you in your eco approach, allowing you to protect your budget from constantly rising energy costs.</p> <h4 class="title-3">Reduced interest rates available with Immoplus Green</h4> <ul class="list-check"> <li>Photovoltaic solar panels;</li> <li>Energy-related installation or renovation;</li> <li>Construction of a passive or low energy home.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> </div> </li> <li> <h3 class="list-accordion-title">Check-list</h3> <div class="list-accordion-content"> <p>Here is a checklist of things to consider when buying a property:</p> <div class="grid-adaptive"> <div class="sub-column-50"> <h4 class="title-3">Banking issues</h4> <ul class="list-check"> <li>Type of interest rate</li> <li>Mortgage insurance</li> <li>Fully comprehensive home insurance</li> </ul> <h4 class="title-3">Other financial issues</h4> <ul class="list-check"> <li>Personal contribution</li> <li>Guarantees</li> <li>Monthly repayments according to your income</li> </ul> </div> <div class="sub-column-50"> <h4 class="title-3">Other costs arising from a property purchase</h4> <ul class="list-check"> <li>Notary’s fees</li> <li>Registration duty</li> <li>Land tax</li> <li>Local taxes</li> <li>Home insurance</li> </ul> <h4 class="title-3">Expert involvement</h4> <ul class="list-check"> <li>Notary</li> <li>Bank adviser</li> </ul> </div> </div> </div> </li> </ul> <h3 class="title-3">Useful Addresses</h3> <ul class="list-1"> <li><a href="http://www.guichet.public.lu" target="_blank">Le guide administratif de l’Etat luxembourgeois</a></li> <li><a href="http://www.ml.public.lu" target="_blank">Ministère du Logement</a></li> <li><a href="http://www.guichet.public.lu/citoyens/fr/logement/index.html" target="_blank">Logement - Gouvernement du Grand-Duché de Luxembourg</a></li> <li><a href="http://www.impotsdirects.public.lu/az/i/inter_debit/" target="_blank">Intérêts débiteurs - Administration des Contributions Directes</a></li> </ul> </div> </div> <!-- section : télécharger <div class="section-default is-silver"> <div class="page-wrapper"> <div class="grid-adaptive"> <div class="sub-column-70"> <p class="text-big">Read all about this topic in our brochure</p> </div> <div class="sub-column-30"> <p><a class="btn-default" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL-borchure-residence-secondaire-fr.pdf" target="_blank">Download the brochure</a></p> </div> </div> </div> </div> -->
Divorce or separationhttps://www.bil.com/en/individuals/key-moments/Pages/your-banking-assets-in-the-event-of-divorce-or-separation.aspxDivorce or separation<!-- section : contenu --> <div class="section-default"> <div class="page-wrapper"> <h2 class="title-1">What happens to your banking assets?</h2> <p>Dans le cas d’une séparation ou d’un divorce, vous êtes amené(e) à prendre des décisions importantes relatives à votre habitation, vos crédits en cours et vos assurances. Des décisions qui impactent forcément l’état futur de vos finances. Votre Responsable de relation se tient à votre disposition pour vous aider à bien cerner les implications financières de vos choix. Il vous propose les formules les mieux adaptées pour faire face à votre nouvelle situation.</p> <ul class="list-accordion"> <li> <h3 class="list-accordion-title">Protect your banking assets.</h3> <div class="list-accordion-content"> <p>In order to safeguard your assets, first make a list of the accounts for which you are the sole holder, a joint holder, or an authorised representative</p> <h4 class="title-3">Sole account</h4> <p>An account for which you are the sole holder is managed autonomously, independently of your matrimonial regime.</p> <p>This account operates under your sole signature and responsibility. </p> <p>If your spouse has a proxy on this account, you should revoke it to prevent any further transactions on his/her part.</p> <h4 class="title-3">Joint account</h4> <p>Do you have a joint account with your spouse?</p> <p>The operation of the account is governed by the terms and conditions.</p> <ul class="list-check"> <li>Either the account operates under the joint signatures of both holders. Every transaction requires the signature of both holders.</li> <li>Or the account operates under joint liability, i.e. by individual signature. Each account holder can access all sums or securities credited to the aforesaid account, with only his/her signature being required.</li> </ul> <h4 class="title-3">Joint liability</h4> <p>By contract, a joint account implies active and passive joint liability for the account holders.</p> <ul class="list-check"> <li>Active joint liability: each joint holder can access all the funds in the account, even if only one holder has made deposits;</li> <li>Passive joint liability: each joint holder is considered a debtor if the account goes overdrawn.</li> </ul> <h4 class="title-3">What should be done?</h4> <ul class="list-check"> <li>You can ask for the account to be closed, as specified in the terms and conditions.</li> <li>You may cancel the joint liability of the account at any time, in writing and without notice. In this case, the account will continue to operate under the joint signature of all the holders.</li> <li>You can ask to be removed as a joint holder. You will be removed from the joint account, which turns into a sole account held by your spouse.</li> </ul> <p>NB: A joint account is often used to pay for household expenses. It may therefore have permanent standing orders or direct debits in place for paying recurring bills. Take this into account as you proceed.</p> <h4 class="title-3">Your bank cards</h4> <ul class="list-check"> <li>If your spouse has a debit or credit card linked to your current account, you must terminate your spouse's card agreement with the bank. The card is then cancelled.</li> <li>You may terminate your spouse's debit or credit card agreement directly through your relationship manager.</li> </ul> <h4 class="title-3">Your safe-deposit box</h4> <p>A safe-deposit box is subject to the same rules as a bank account.</p> <p>You are thus either:</p> <ul class="list-check"> <li>The sole holder and may access the assets it contains as you please, regardless of your matrimonial regime. If your spouse has a proxy on a safe-deposit box in your name, you may cancel it at any time.</li> <li>A joint holder with your spouse, and you each have a proxy. You can initiate a procedure to block access to the safe-deposit box. Access to the safe-deposit box is then blocked for all the holders.</li> <li>An authorised representative for a safe-deposit box in the name of your spouse, by way of a proxy which he/she has given you. You cannot block access to the safe-deposit box, and your spouse is free to cancel your proxy at any time.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> </div> </li> <li> <h3 class="list-accordion-title">Resolve your loan and insurance issues.</h3> <div class="list-accordion-content"> <h4 class="title-3">Other outstanding loans</h4> <p>As with your mortgage, be sure to review your personal loans. The status of these loans is tied to your matrimonial status.</p> <p>For the legal regime:</p> <ul class="list-check"> <li>You took out the loan in your name before or after the marriage. This loan is a personal debt by nature. You have sole liability for it.</li> <li>You took out a loan with your spouse: it forms part of the joint debts. You are therefore both responsible for its repayment.</li> </ul> <p>For the separate ownership regime:</p> <ul class="list-check"> <li>You took out the loan in your name. The debt is entirely yours.</li> <li>You took out your personal loan in the name of both spouses. If the contract includes a joint liability clause, you are responsible for repaying the loan.</li> </ul> <p>For the universal community regime:</p> <ul class="list-check"> <li>Even if the loan is personal, it forms part of the couple's universal community. Thus, your spouse is also responsible for its repayment.</li> </ul> <p>We recommend you review the status of your loans with your relationship manager. He/She will suggest the solution best suited to your situation and will take you through the issues you need to consider.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> <h4 class="title-3">Your home-related insurance</h4> <p>There are two types of home-related insurance:</p> <ul class="list-check"> <li>Mortgage protection insurance: discuss this with your relationship manager; he/she will adjust your contract to your new situation where necessary;</li> <li>Home and family insurance: remember to inform your insurer of your new situation, so that any necessary adjustments are made.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> <h4 class="title-3">Other insurance</h4> <p>We invite you to contact your insurance agent to review your current policies, and whether they should be adjusted to your new situation. What happens with your car insurance if the car belongs to both spouses? Who receives the premium refund if an insurance policy is cancelled in the middle of the year? Your relationship manager will help you decide these issues in your best interests. </p> <p>If you have a life insurance policy, you may change the beneficiary at any time. If your spouse is named as a beneficiary, you should ask your insurer to have the beneficiary changed. </p> <p>If your spouse is generically designated as a beneficiary in the insurance policy, your spouse at the time the policy liquidates will receive the payout.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> <h4 class="title-3">Your financial investments</h4> <p>You are the sole owner of every financial investment or investment vehicle acquired in your name. Keep in mind that a divorce or separation is likely to entail significant expenses, requiring a supply of cash. </p> <p>Get in touch with your relationship manager before exiting investments early in order to secure cash. Depending on the investment, an early exit may entail significant costs as well as the foregoing of opportunities. </p> <p>Also review your current investments and determine, with your relationship manager, the most suitable strategy going forward.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> </div> </li> <li> <h3 class="list-accordion-title">Think about your children’s assets</h3> <div class="list-accordion-content"> <h4 class="title-3">Youth savings account</h4> <p>In theory, deposits in savings accounts, including interest, remain frozen until the holder's majority. Thus, neither spouse can withdraw funds from a minor's savings account. </p> <p>The bank may, but is not obliged to authorise early repayment of the holdings in the account if valid reasons are given, by means of a written request with the agreement of the legal representative(s). In this case, it is preferable to revoke the legal presumption of mutual consent between the spouses.</p> <h4 class="title-3">Youth current account</h4> <p>Your minor child, as the sole holder of his/her current account, has the exclusive right to carry out transactions from his/her account. Furthermore, a minor is not supposed to grant proxies on his/her accounts.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> <h4 class="title-3">Life insurance</h4> <p>If both parents are policyholders, there are two possibilities:</p> <ul class="list-check"> <li>The policy reaches its term, with no change in policyholders;</li> <li>One of the two parents chooses to leave the policy. This requires the agreement of both policyholders. Exit by one of the parents results in the cancellation of the first policy and the creation of a new one. This operation may incur fees.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> <h4 class="title-3">Mortgage savings plan</h4> <ul class="list-check"> <li>If the child is under 15, both parents or the parent who has custody have/has the option of terminating the scheme early.</li> <li>If the child is over 15, he/she has the exclusive power to terminate the scheme.</li> </ul> <p> </p><p>Would you like to secure a better financial future for your children? </p> <p>Here are some ideas for how young people can save.</p> <h4 class="title-3">“Billy” savings account</h4> <p>By making regular deposits into this savings account, you help your child build savings from an early age, as well as learn about money and saving. The account is frozen until the child reaches majority. On top of being free of charge, a Billy savings account pays a preferential rate of interest.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> <h4 class="title-3">“Juvena” life assurance</h4> <p>This modern investment taking the form of a life assurance policy will enable your child to draw on financial support when he/she embarks on his/her professional career. In addition, Juvena guarantees certain protection:</p> <ul class="list-check"> <li>You retain control over the policy for its entire term;</li> <li>You earn an attractive rate of return on your savings;</li> <li>In the event of death, the insurance company pays the remaining premiums on your behalf.</li> </ul> <h4 class="title-3">Wüstenrot mortgage savings plan</h4> <p>This is a savings account which will host early contributions to your child's future home. In addition to this, it provides you with a number of benefits:</p> <ul class="list-check"> <li>You benefit from an attractive interest rate on savings;</li> <li>Savers pay no account custody charges until their 20th birthday;</li> <li>You enjoy tax benefits.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> </div> </li> <li> <h3 class="list-accordion-title">Check-list</h3> <div class="list-accordion-content"> <p>Here is a list of things to consider when separating or divorcing.</p> <div class="grid-adaptive"> <div class="sub-column-50"> <h4 class="title-3">Banking issues</h4> <ul class="list-check"> <li>Joint bank accounts (current account, savings, securities)</li> <li>Proxies on sole account</li> <li>Bank cards with proxy on sole account</li> <li>Payment of salary/pension/benefits</li> <li>Transfers and standing orders</li> <li>Safe-deposit box</li> <li>Children's accounts</li> <li>Mortgages</li> <li>Other loans</li> <li>Mortgage insurance</li> <li>Life insurance</li> <li>Home insurance</li> <li>Family insurance</li> <li>Car insurance</li> </ul> <h4 class="title-3">Other financial issues</h4> <ul class="list-check"> <li>Spousal maintenance</li> <li>Child support</li> <li>Inheritance/will</li> <li>Tax returns</li> </ul> </div> <div class="sub-column-50"> <h4 class="title-3">Other expenses associated with a divorce</h4> <ul class="list-check"> <li>Fees and charges for proceedings</li> <li>Relocation expenses</li> <li>Moving in expenses</li> <li>Rent deposit</li> </ul> <h4 class="title-3">Division of assets</h4> <ul class="list-check"> <li>Home</li> <li>Movable assets</li> <li>Car and sundry items</li> <li>Artworks</li> </ul> <h4 class="title-3">Children</h4> <ul class="list-check"> <li>Parental authority</li> <li>Visitation and custody rights during the year</li> <li>Visitation and custody rights during the school holidays</li> <li>School fees</li> <li>Medical and paramedical expenses</li> <li>Leisure expenses</li> </ul> <h4 class="title-3">Expert involvement</h4> <ul class="list-check"> <li>Mediator</li> <li>Lawyer</li> <li>Notary</li> <li>Bank adviser</li> </ul> </div> </div> </div> </li> </ul> <h3 class="title-3">Useful Addresses</h3> <ul class="list-1"> <li><a href="http://www.guichet.public.lu" target="_blank">Le guide administratif de l’Etat luxembourgeois</a></li> <li><a href="http://www.guichet.public.lu/citoyens/fr/organismes/tribunal-arrondissement/index.html" target="_blank">Tribunal d'arrondissement - Gouvernement du Grand-Duché de Luxembourg</a></li> <li><a href="http://www.barreau.lu" target="_blank">Barreau de Luxembourg</a></li> <li><a href="http://www.notariat.lu" target="_blank">Chambre des Notaires</a></li> <li><a href="http://www.justice.public.lu/fr/famille/divorce-separation/index.html" target="_blank">Divorce ou séparation - Administration judiciaire du Grand-Duché de Luxembourg</a></li> <li><a href="http://www.impotsdirects.public.lu/az/d/divorce/index.html" target="_blank">Divorce - Administration des Contributions Directes</a></li> <li><a href="http://europa.eu/youreurope/citizens/family/couple/index_fr.htm" target="_blank">Droits et obligations des couples dans différents pays de l'UE</a></li> </ul> </div> </div> <!-- section : télécharger <div class="section-default is-silver"> <div class="page-wrapper"> <div class="grid-adaptive"> <div class="sub-column-70"> <p class="text-big">Read all about this topic in our brochure</p> </div> <div class="sub-column-30"> <p><a class="btn-default" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL-brochure-divorce-en.pdf" target="_blank">Download the brochure</a></p> </div> </div> </div> </div> -->
Manage your retirementhttps://www.bil.com/en/individuals/key-moments/Pages/manage-your-retirement.aspxManage your retirement<!-- section : contenu --> <div class="section-default"> <div class="page-wrapper"> <h2 class="title-1">What is the best way to manage your new life?</h2> <p>Au Luxembourg, l’âge légal de la retraite est de 65 ans. Cependant, l’octroi des différentes pensions est soumis à une condition d’âge et à une condition de périodes appelées stages. Les pensions ne sont accordées que si l’assuré en fait la demande formelle. Vous pouvez acquérir le formulaire de demande de pension auprès des services de la <a href="http://www.cnap.lu">Caisse Nationale d’Assurance Pension</a> (CNAP).</p> <ul class="list-accordion"> <li> <h3 class="list-accordion-title">Do you want to build up a lump sum without tying up your money?</h3> <div class="list-accordion-content"> <p>BIL offers you two attractive savings accounts.</p> <h4 class="title-3">No Notice Savings account</h4> <p>This account enables you to save with easy access to capital and without taking risks.<br>You benefit from three forms of remuneration:</p> <ul class="list-check"> <li>Base rate (aligned with market changes);</li> <li>Growth premium (calculated based on the net increase in deposits over the year, i.e. the difference between your deposits and your withdrawals);</li> <li>Loyalty premium (calculated based on the lowest credit balance recorded during the past year).</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/savings-accounts.aspx">Find out more</a></p> <h4 class="title-3">Savings Plus account</h4> <ul class="list-1"> <li>This account enables you to save with a higher return than an ordinary savings account. </li> <li>You have easy access to your capital without taking risks. </li> <li>Furthermore, you have the option of investing in euro or other currencies. </li> <li>You have the benefit of a flat interest rate based on the currency of your investment. </li> <li>You can monitor your No Notice Savings account and your Savings Plus account using BILnet. </li> <li>You can also secure tax benefits. </li> <li>Please contact your relationship manager for further information about your savings account.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/savings-accounts.aspx">Find out more</a></p> </div> </li> <li> <h3 class="list-accordion-title">Insuring your family’s future</h3> <div class="list-accordion-content"> <p>A good start for your grandchildren. If you have grandchildren, you can subscribe in their name to various products to ensure that they have a secure start in life.</p> <h4 class="title-3">“Juvena” life insurance</h4> <p>This is a modern investment in the form of a life insurance policy that will enable your child to draw on financial support when he or she embarks on his or her adult life. Furthermore, “Juvena” provides the following guaranteed cover:</p> <ul class="list-check"> <li>You retain control over the policy for its entire term;</li> <li>You earn an attractive rate of return on your savings;</li> <li>In the event of death, the insurance company pays the remaining premiums on your behalf.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/youth-savings.aspx">Find out more</a></p> <h4 class="title-3">Wüstenrot mortgage savings plan</h4> <p>This is a savings account that allows you to start saving for your grandchild's future home. In addition to this, it provides you with a number of benefits:</p> <ul class="list-check"> <li>You benefit from an attractive interest rate on savings;</li> <li>Savers pay no account custody charges until their 20th birthday;</li> <li>You enjoy tax benefits.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/mortgage-savings.aspx">Find out more</a></p> <p>Guaranteeing your retirement.<br>In order to make the most of your retirement, you can take out various insurance policies during your lifetime which, when they mature, will enable you to benefit from a guaranteed lump sum as well as attractive tax deductions.</p> <h4 class="title-3">Supplementary pension insurance</h4> <ul class="list-check"> <li>Guaranteed minimum interest rate on all premiums paid, increased through a potential share in the insurance company's profits;</li> <li>Choice of premium payment frequency (half-yearly, quarterly or monthly);</li> <li>Choice of policy expiry date (at least 60 and at most 75);</li> <li>Capital paid either in the form of a monthly annuity or 50% as a lump sum and the remainder as a monthly annuity;</li> <li>Attractive tax deductions.</li> <li>Various banking solutions are available to help guarantee you a supplementary income enabling you to maintain your purchasing power. Contact your relationship manager in order to select the product suited to your needs.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/save/Pages/complementary-pension.aspx">Find out more</a></p> <h4 class="title-3">Term life insurance</h4> <ul class="list-check"> <li>Lump sum paid to your beneficiaries in the event of death;</li> <li>Choice of sum insured and term of the policy;</li> <li>Choice of premium payment frequency (single premium or regular premiums);</li> <li>Premiums calculated based on the age of the policyholder, term of the policy and total capital invested;</li> <li>Attractive tax deductions.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/invest/Pages/life-insurance.aspx">Find out more</a></p> <h4 class="title-3">Endowment life insurance</h4> <ul class="list-check"> <li>Lump sum paid to your beneficiaries in the event of death;</li> <li>Choice of sum insured and term of the policy;</li> <li>Premiums calculated based on the age of the policyholder, term of the policy and total capital invested;</li> <li>Attractive tax deductions.</li> </ul> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/products-and-services/invest/Pages/life-insurance.aspx">Find out more</a></p> </div> </li> <li> <h3 class="list-accordion-title">Moving into a retirement home</h3> <div class="list-accordion-content"> <h4 class="title-3">Rental of safe deposit boxes:</h4> <p>If you decide to sell your home or to end the tenancy agreement when moving into a retirement home, you will not be able to take everything with you. Taking jewellery or small items of value with you to a retirement home can be risky. In this case, BIL gives you the option of renting a safe deposit box in one of its branches. Contact your relationship manager for more information.</p> <p><a class="btn-arrow" href="{%BIL_Internet_Root_URL_Luxembourg%}/en/individuals/Pages/contact.aspx">Contact us</a></p> </div> </li> <li> <h3 class="list-accordion-title">Check-list</h3> <div class="list-accordion-content"> <p>Here is a checklist of topics to be remembered when preparing for retirement:</p> <div class="grid-adaptive"> <div class="sub-column-50"> <h4 class="title-3">Retirement</h4> <ul class="list-check"> <li>Retirement pension</li> <li>Early retirement pension</li> <li>Supplementary pension scheme</li> <li>Insurance periods</li> </ul> <h4 class="title-3">Insurance and savings</h4> <ul class="list-check"> <li>Temporary Death-Risk</li> <li>Endowment life insurance</li> <li>Life insurance</li> <li>Wüstenrot mortgage savings plan</li> </ul> </div> <div class="sub-column-50"> <h4 class="title-3">Taxation</h4> <ul class="list-check"> <li>Tax returns</li> <li>Annual statement</li> </ul> <h4 class="title-3">Expert involvement</h4> <ul class="list-check"> <li>Relationship manager</li> <li>Notary</li> </ul> </div> </div> </div> </li> </ul> <h3 class="title-3">Useful Addresses</h3> <ul class="list-1"> <li><a href="http://www.cnap.lu" target="_blank">Caisse nationale d’assurance pension</a></li> <li><a href="http://www.impotsdirects.public.lu" target="_blank">Administration des Contributions Directes</a></li> <li><a href="http://www.luxsenior.lu" target="_blank">Luxsenior - Ministère de la Famille et de l'Intégration</a></li> <li><a href="http://www.maisondesassociations.lu" target="_blank">Maison des Associations</a></li> <li><a href="http://www.rbs.lu" target="_blank">RBS - Center fir Altersfroen</a></li> <li><a href="http://www.guichet.public.lu" target="_blank">Gouvernement du Grand-Duché de Luxembourg</a></li> <li><a href="http://www.csl.lu/dossiers-thematiques/126-prendre-sa-retraite" target="_blank">Prendre sa retraite - Chambre des salariés</a></li> <li><a href="http://www.mss.public.lu/pension/prest_survie/pension_survie/index.html" target="_blank">La pension de survie du conjoint - Ministère de la Sécurité Sociale</a></li> <li><a href="http://www.cnap.lu/coordination-internationale/union-europeenne" target="_blank">Union européenne - Caisse nationale d'assurance pension</a></li> </ul> </div> </div> <!-- section : télécharger <div class="section-default is-silver"> <div class="page-wrapper"> <div class="grid-adaptive"> <div class="sub-column-70"> <p class="text-big">Read all about this topic in our brochure</p> </div> <div class="sub-column-30"> <p><a class="btn-default" href="{%BIL_Internet_Root_URL_Luxembourg%}/Documents/brochures/BIL-borchure-retraite-fr.pdf" target="_blank">Download the brochure</a></p> </div> </div> </div> </div> -->