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Professionals
I consult or invest on behalf of my clients or financial institution.
General Public
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An individual investor, also known as a retail client, is a client organisation or individual who cannot meet both:
(i) one or more of the professional client criteria laid down in Annex II to the Markets in Financial Instruments Directive (Directive 2004/39/EC); and
(ii) one or more of the qualified investor criteria set out in Article 2 of the Prospectus Directive (Directive 2003/71/EC).
On this website, Intermediaries are investors that qualify as both a Professional Client and a Qualified Investor.
In summary a person who can both be classified as a professional client under the Markets in Financial Instruments Directive and a qualified investor in accordance with the Prospectus Directive will generally need to meet one or more of the following requirements:
(1) An entity required to be authorised or regulated to operate in the financial markets. The following list includes all authorised entities carrying out the characteristic activities of the entities mentioned, whether authorised by an EEA State or a third country and whether or not authorised by reference to a directive:
(a) a credit institution;
(b) an investment firm;
(c) any other authorised or regulated financial institution;
(d) an insurance company;
(e) a collective investment scheme or the management company of such a scheme;
(f) a pension fund or the management company of a pension fund;
(g) a commodity or commodity derivatives dealer;
(h) a local;
(i) any other intermediaries investor.
(2) a large undertaking that meets two of the following tests:
(i) a balance sheet total of EUR 43,000,000;
(ii) an annual net turnover of EUR 50,000,000;
(iii) an average number of employees during the year of 250.
(3) a national or regional government, a public body that manages public debt, a central bank, an international or supranational intermediaries (such as the World Bank, the IMF, the ECB, the EIB) or another similar international organisation.
(4) a natural person resident in an EEA State that permits the authorisation of natural persons as qualified investors, who expressly asks to be treated as a professional client and a qualified investor and who meets at least two of the following criteria:
(i) he/she has carried out transactions on securities markets at an average frequency of, at least, 10 per quarter over the previous four quarters before the application;
(ii) the size of his/her financial instrument portfolio, defined as including cash deposits and financial instruments exceeds EUR 500.000;
(iii) he/she works or has worked for at least one year in the financial sector in a professional position which requires knowledge of securities investment.
Please note that the above summary is provided for information purposes only. If you are uncertain as to whether you can both be classified as a professional client under the Markets in Financial Instruments Directive and classed as a qualified investor under the Prospectus Directive then you should seek independent advice.
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How much do I need to save?
Before you decide which product you want to invest in, you should of course know how much you need to save in the first place. Use our Pension Calculator below to find out.
Identify your savings amount in just four simple steps
Step 1: How much will you miss each month? 1/4
What is your monthly net wage?
A
How much would you like to earn when you retire?
B
Average pension income
(89% of your monthly net wage as stated in
A)
C
Your monthly financial shortfall
(B-C)
=
Source: OECD Data, Net pension replacement rates, 2020.
Continue
Step 2: How long do the funds need to last? 2/4
What is your planned retirement age?
A
Average life expectancy in Luxembourg
B
Your estimated retirement period in months (B-A) x 12 months
=
Step 3: How long do you have to save? 3/4
How old are you?
A
Your planned retirement age
B
Your savings period in years (B-A)
=
Back
Continue
Step 4: How much do you need overall? 4/4
Your retirement period in months
A
Your monthly pension shortfall
B
Your total savings amount
(AxB)
=
Back
Continue
Your result
Your monthly pension shortfall is €.
If you want to reach the amount you wished for when you retire, you need to save a total of € in years.
This material is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any financial instrument or product or to adopt any investment strategy.
This tool does no take into account your personal circumstances. We strongly recommend you seek independent professional advice prior to investing. If, after reading this material, you have any questions or would like any additional information please contact your financial adviser.
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