Confusion between equity savings accounts and old-age savings can lead to errors in contributions and potential tax implications. It is crucial to understand the specific rules and limits associated with each type of account, especially concerning age restrictions and pension payment start dates.

The maximum deposit into an equity savings account for the current year is 166,200 kroner, calculated based on the account’s total value (securities and balance) on December 31st of the previous year. Additional deposits are only permitted in subsequent years if the account’s value on December 31st falls below the newly announced maximum limit.

Individuals who began receiving periodic pension payments after 2018 face restrictions on old-age savings contributions, with a significantly lower maximum deposit amount. However, those over 80 years old are ineligible to contribute to old-age savings regardless.

If an overpayment occurs, consulting with the bank is essential to rectify the error. This may involve withdrawing the excess amount and potentially incurring a penalty tax. The appropriate course of action depends on whether the overpayment occurred in the equity savings account or the old-age savings. Seeking specific guidance from the bank is vital to resolving the issue.