All articles · 2026-11-06 · Pension
From Branch 21 with your primary bank to a profitable Branch 23 plan
From VAPZ and IPT in Branch 21 to a pension plan in Branch 23: discover how an entrepreneur aligns their pension build-up, investments, and real estate plans.
By Oskar Knapen, Expert Vermogensopbouw bij Lyff.
Short answer
- Branch 21 offers security, but net returns may be insufficient to preserve your purchasing power in the long run.
- Branch 23 offers greater return potential through funds, but no capital guarantee: your horizon and risk profile remain decisive.
- An independent broker compares multiple insurers and funds for your supplementary pension planning.
- Under strict conditions, your IPT can help finance private real estate through a bullet loan.
- Review VAPZ, IPT, and pension savings together, paying attention to costs, tax conditions, and diversification.
An entrepreneur with a management company has been building up a supplementary pension for years via VAPZ and IPT. Everything neatly arranged with his primary bank, everything in Branch 21. Safe, but with returns that barely keep up with inflation.
He asked his bank advisor about Branch 23. The proposal was not convincing. So he turned to an independent broker. This is his story, and perhaps yours too.
Why Branch 21 often yields too little
Branch 21 offers a guaranteed interest rate plus potential profit sharing. That sounds reassuring. But after costs and taxes, often little net return remains.
Over a period of twenty or thirty years, that makes an enormous difference. Pension capital that stands still loses purchasing power. If you are still far from retirement, sticking only to Branch 21 leaves a lot of potential on the table.
Branch 23 through your primary bank or through an independent broker?
As a rule, a bank mainly offers its own investment funds. Logical from their perspective, less obvious from yours. The choice is limited to a single institution, with a single vision.
An independent broker works with multiple insurers and an open fund architecture. That means selecting based on quality, costs, and historical performance, not on a logo. That is exactly what our client was looking for.
VAPZ and IPT in Branch 23: higher return potential, same tax benefit
We placed his VAPZ and IPT into a Branch 23 policy with a selection of top-performing funds. The tax benefit is fully preserved: contributions for VAPZ and IPT remain deductible, within the known limits such as the 80% rule.
What changes is the engine under the hood. No standard portfolio, but diversification tailored to his age, investment horizon, and risk profile. And a broker who keeps watch and makes adjustments where necessary.
Your IPT as leverage for private real estate
Many entrepreneurs do not know this: your IPT can already be used today to finance private real estate. Think of purchasing, building, or renovating a home or investment property.
This can be done via a bullet loan linked to your IPT. During the term, you only pay interest. You repay the principal in a single lump sum at the end, using the accumulated pension capital.
The result? Lower monthly payments, more financial breathing room, and a pension plan that works for you even before retirement. For our client, that immediately opened up new possibilities for his real estate plans.
Keep in mind: the tax conditions are strict, and a bullet loan requires careful planning. Custom solutions and advice are not a luxury here.
Revisiting pension savings: now powered by ETFs
We also took a close look at his pension savings. The same story: solid, but hardly dynamic.
Today, his pension savings insurance is backed by ETFs. Broad diversification across global markets, low management fees, and transparency. The tax benefit of pension savings is simply maintained.
This way, all pillars of his pension planning are finally aligned: VAPZ, IPT, and pension savings, each with a clear role.
Frequently asked questions
Can I transfer my VAPZ or IPT from Branch 21 to Branch 23?
In many cases, yes, although it depends on your contract and your insurer's terms. Sometimes, setting up a new Branch 23 policy for future contributions is the smartest move. A broker examines which route delivers the most value tax-wise and financially.
Is Branch 23 riskier than Branch 21?
Yes, Branch 23 has no capital guarantee and returns depend on the underlying funds. In exchange, there is higher return potential. Over a long investment horizon, those fluctuations generally carry less weight.
What is a bullet loan on my IPT?
A loan where you only pay interest during the term and repay the principal all at once at the end. Your IPT serves as collateral or as the repayment source. This allows you to finance private real estate without high monthly repayments.
Can pension savings invest in ETFs?
Yes, through a Branch 23 pension savings insurance with ETFs as underlying investments. This combines the tax benefit of pension savings with low costs and broad diversification.
Why choose an independent broker instead of my bank?
Because an independent broker is not tied to a single provider. You gain access to multiple insurers and funds, and advice based on your situation rather than a product catalog.
Conclusion: get more out of your supplementary pension
VAPZ, IPT, and pension savings are powerful tax instruments. But only if they actually generate returns. Branch 21 with your primary bank is a starting point, not the finish line.
Want to know what your pension planning can deliver, or how your IPT can accelerate your real estate plans? Plan a no-obligation conversation with Lyff., your independent sparring partner for entrepreneurs.