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Data from official sources · Made in Argentina

Pension and retirement annuity tax calculator

Namibia lets you deduct contributions to an approved pension or provident fund, a retirement annuity and education policies from your taxable income.

Enter your income and contributions to see the tax saved and how much room is left under the yearly cap.

How it's calculated

  1. Add up your pension or provident fund, retirement annuity and education policy payments for the tax year.
  2. The deduction is that total, up to N$150,000 a year.
  3. Tax is worked out with the NamRA bands on your income with and without the deduction. The difference is your saving.

An example

On N$480,000 a year, N$36,000 in pension contributions brings tax down from N$95,400 to N$85,320, a saving of N$10,080.

Frequently asked questions

Which contributions count towards the cap?

Contributions to an approved pension or provident fund made as a condition of employment, contributions to a retirement annuity fund and premiums on a policy for a child's education. Together they are limited to N$150,000 a year.

What happens if I withdraw my pension when I resign?

NamRA says a withdrawal from a pension or provident fund on resignation is fully taxed. If you move the money to a preservation fund, it is taxed only when you withdraw it.

Can I deduct more than the cap?

No. Whatever you pay above N$150,000 a year in total does not lower your tax for that year.

Key terms

Retirement annuity
A private retirement savings policy you pay into yourself, outside your employer's fund.
Preservation fund
A fund that keeps your retirement savings invested when you change jobs.

Up-to-date official data

Data checked against the official source on .

We check the official sources automatically, every day.

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