Skip to main content

Preguntas Frecuentes

Frequently Asked Questions

Check the most common questions    

I have a pension plan in my bank. Can I transfer the consolidated rights to Loreto Mutua?

Yes, but the law does not allow transfers between Pension Plans and Social Benefit Mutual Funds. If you are a member of the Mutual Benefit Fund, the best option is to contract the Loreto Óptima Individual Plan, and you will benefit from the management and returns obtained in it.

MORE INFO
I have taken redundancy pay and left Iberia as a result of the Regulation of Employment Plan (ERE). Is it in my interest applying for my Loreto Mutua benefit?

You decide when and how to collect your Loreto Mutua benefit, and we recommend you get to know all the details and with us, that you understand the repercussions, both economic and fiscal, of the decision you take.    

In the case of early retirement, Iberia has committed to continue to pay the employer’s contribution, up to the age of 65 for ground staff and up to age 60 for flight staff, providing the redemption of the mutual fund benefit is not requested (in any of its modalities).

In cases of deferred redeployment or redundancy schemes you can, through a personal contract, make contributions for your own account so as to continue to top up your savings for retirement.

If, in addition to the company contribution, I want to make individual contributions to the Mutual Benefit Fund, how can I do so?

You can increase your contribution up to the tax limits established by Law, making extraordinary contributions to the Mutual Benefit Fund whenever you wish. You can also sign an individual contract to make monthly contributions, or become a participant in the Loreto Óptima Individual Plan.

MUTUALIDAD
INDIVIDUAL PLANS
Can my family or friends belong to Loreto Mutual?

Yes. They can do so by contracting our Loreto Óptima Personal Plan, or if their work activity is related to the airline industry, by becoming a member through an individual contract with the Mutual Benefit Fund, regardless of whether their company has covered it in their collective agreement.

MORE INFO
If I leave my company, do I have the possibility of remaining linked to the Mutual Benefit Fund? If not, would I lose my savings?

As a Mutual Benefit Fund member, you can sign an individual contract, to continue making contributions on your own and thus continue increasing your capital in order to maintain your standard of living after retirement. However, if you do not continue to contribute, the capital that you have already saved will remain in the Mutual Benefit Fund until the time you invoke the right due to any collection contingency to, and therefore, you will continue to benefit from the returns obtained by the Mutual Benefit Fund.    

DO IT HERE
How can I find out how much money I have saved with Loreto Mutua?

In the private area of the website, all the information regarding your benefit rights is available to you, including the breakdown of your contributions up to this time. In addition, you also have a simulator to project future savings, and to be able to make plans regarding the assets you might have after your retirement.

In any case, we will be happy to assist you by phone at 91 758 96 50, or receive you at our offices. To avoid unnecessary waiting, we recommend that you request a prior appointment by calling 900 847 001.

When can I recover my savings?

Whether you are a member of the Mutual Benefit Fund or a participant in the pension plan, you can recover your capital in the events of retirement, total or absolute incapacity, grave incapacity and death. The regulations also provide for the possibility of anticipating the collection of the Retirement Benefit in case of termination of employment as a result of an ERE and in the case of being over 60 years of age, with the specifications set by law. There is also the possibility of exceptional pay-out in the event of unemployment in accordance with the provisions of current legislation at any given time.

Are Loreto Mutua investments safe?

We have been managing Loreto Mutua assets for more than forty years, and the results and track record vouch for us. The risk profile of the investments is MEDIUM.    

The soundness of its investments is assured by Loreto’s independence (it is not part of or dependent on a financial group), its specialisation (it manages only Complementary Social Providence) and the professionalism and experience of its management team.

The investment process combines the achievement of targets of profitability and overall risk tolerance.

Loreto Mutua, Social Welfare Mutual Benefit Fund, is supervised by the General Directorate of Insurance and Pension Funds as well as external auditors. It also has appropriate internal control procedures that minimise risk, while the securities depository is in the Spanish credit institution with the highest rating.

 

 

I have already retired and I am drawing a state pension. Am I obliged to request the payment of my benefit from Loreto?

The law not only allows you to choose the time to collect your benefit from Loreto, but also to continue making contributions. 

You decide when and how to collect your Loreto Mutua benefit.

Ask us for information so that we can advise you on the fnancial and tax implications of your decision.

How do I receive my Loreto benefit?

When the time comes, you have three options to collect the money: receive it as capital, as income, or in a mixed format. 

If you recover it in the form of capital, you will obtain all the deposited savings at once.  

If you opt for income, you will receive a monthly amount.

If you choose the mixed format, you will receive a part in a single payment and the rest in instalments.  

Each of these alternatives can generate profits or losses in your savings, due to the different type of taxation applied. That is why it is advisable to know all the advantages and disadvantages of each format according to the individual's personal situation.

In fiscal terms, what is the most recommended method of payment?

Click here to view our recommendations on the taxation of benefits.