Where do I enter the savings fund, and do I pay tax on it?

• Modified on: Fri, 2 Oct, 2026 at 12:37 PM

In Celery, you enter the savings fund under wage code 600.

Is it taxed?

That depends on who pays into the fund.

• The employer's part: Part of this is tax-free. The tax-free part is 5% of the yearly wages, up to a maximum of XCG 840.00 per year (XCG means Antillean guilders). Anything above that is taxed.
• The employee's part: This comes from the employee's net salary. Net salary is the pay left over after tax and premiums are taken off. So tax has already been paid on this money. It is not taxed again.

Example

• An employee earns XCG 12,000 per year.
• 5% of 12,000 = XCG 600.
• So up to XCG 600 of the employer's part is tax-free.
• If the employee earns XCG 20,000, 5% would be XCG 1,000. But the maximum is XCG 840. So only XCG 840 is tax-free.

Good to know

Not every savings scheme gets this tax-free rule. The scheme has to meet certain rules first. You can find these rules in the Wage Tax Manual 2004, on page 14. You can download it here.