Enjoying retirement by Lake Geneva — many have earned it. But the tax return remains an annual obligation. The good news: the Geneva tax guide (Guide de la déclaration) offers retiree-specific deductions that lower both taxable income and taxable wealth noticeably.
Below is how the four key deductions work — and how they play out for a real-world couple.
Want a clean, fully digital filing instead? See our Geneva tax return service — one fixed price, one point of contact.
1. The Geneva Pensioner Deduction
Retirees no longer claim the classic job-expense deductions — but Geneva grants a specific deduction for AHV/IV recipients in return.
For couples: If both spouses receive an AHV pension, the canton grants a maximum deduction of CHF 12,260.
The threshold: The deduction is income-dependent. It applies in full up to a net income of CHF 61,300. Above that it phases out in steps and ends entirely above CHF 98,080.
Important: Only available for cantonal and communal taxes (ICC), not for the direct federal tax (IFD).
2. Health Insurance Premiums
In retirement, health costs are often the biggest line item. The canton and the federal government calculate them very differently — look closely.
Canton (ICC): You may deduct the actual premiums paid for basic and supplementary insurance. The cantonal maximum is a generous CHF 17,122 per person — that is CHF 34,244 for a couple.
Federal (IFD): A fixed lump sum applies. For a couple this is CHF 3,700. The retiree bonus: since pensioners typically no longer contribute to a pension fund (2nd pillar) or Pillar 3a, the maximum increases by 50 % to CHF 5,550.
3. Medical and Dental Costs
Deductibles, dental bills, uncovered care costs — they can put real pressure on a household budget.
Canton (ICC): Geneva is taxpayer-friendly here. You may deduct any self-paid medical costs that exceed 0.5 % of your net income.
Federal (IFD): The threshold is much higher: a deduction is only possible above 5 % of net income.
4. Wealth Allowance
Savings built up for retirement are taxed as wealth in Geneva. The canton grants couples a generous allowance — the déduction sociale sur la fortune — of CHF 175,264, deducted directly from gross assets to arrive at taxable wealth.
Worked Example: The Blanc Couple in Geneva
How do these rules play out in practice?
The setting: Marc and Sophie Blanc are both retired, both receive an AHV pension, and live in Geneva.
- Total net income: CHF 75,000
- Effective health insurance premiums: CHF 12,000 (both combined)
- Out-of-pocket dental and medical costs: CHF 3,000
Cantonal and communal tax (ICC)
At cantonal level the Blancs reduce their taxable income substantially:
- Pensioner deduction: Their income (CHF 75,000) sits in the third tier of the statutory table (CHF 69,510 – CHF 78,464), giving them CHF 7,356.
- Health insurance: The CHF 12,000 paid sits well below the CHF 34,244 cap — fully deductible.
- Medical costs: The threshold is 0.5 % of CHF 75,000 = CHF 375. The remaining CHF 2,625 (CHF 3,000 − CHF 375) is deductible.
Result (ICC): From CHF 75,000 of net income, around CHF 22,000 in deductions kick in. Taxable cantonal income drops to roughly CHF 53,019.
Direct federal tax (IFD)
The federal calculation is stricter:
- Health insurance: Instead of actual costs, only the uplifted lump sum for couples without 2nd/3rd pillar payments — CHF 5,550.
- Medical costs: The threshold is 5 % of income (CHF 3,750). Since the actual costs of CHF 3,000 are below it, the deduction is zero.
Result (IFD): Taxable federal income stays at roughly CHF 69,450 — the lower lump sums leave less room.
The Takeaway for Your Tax Planning
In Geneva especially, keep every medical receipt and every pair of glasses on file. With a cantonal threshold of just 0.5 %, health costs in retirement become an effective tax-reducing lever very quickly.
If you would rather hand it over: we file your Geneva tax return cleanly, with all pension-specific deductions documented and ready for the tax office. Clear flat rates, no paperwork, one point of contact — see how the Geneva tax return works with FIN. For a broader view of what is deductible in Geneva, our top 5 Geneva deductions overview covers insurance, education, Pillar 3a, pension buy-ins and childcare.
Sources and Further Information
Figures and codes follow the Geneva tax guide (Guide de la déclaration) for individual taxpayers. Cantonal forms and the online filing portal are available from the Cantonal Tax Administration of Geneva .