A pension plan is asavings product, which will allow you to have a capital or an income at the time of your retirement or in case of disability, and in case of death, your beneficiaries can have it.
In addition, pension plans allow you to obtain the maximum tax savings in your income tax, as they allow you to deduct the contributions made, thus deferring the payment of the tax at the time of collecting the benefit.
Why do you need a pension plan?
To maintainthecurrentstandardofliving,itisnecessary to complementtheSocial Security public pension,sincethesubstitutionrateiseverydaydecreasing (thedifferencebetweenthelastsalaryandthepensionis increasing).
We mustaddtheexistinguncertaintysurroundingtheviabilityof the currentpublicpensionsystem.
What are the advantages of a pension plan?
Itisanoptimalproductfrom both afinancial-fiscalpointofview, as inaddition to theprofitability accumulated over theyears, we must addthetaxreliefthatthecontributionsmean.Moreover,itallowsforconsistentandperiodicsavingstocoveranyfuturerisk.
Can you contract several individual pension plans at the same time?
You can hire as many personal plans as you want. You just have to take into account that the annual contributions of the participant to all of them must not exceed the maximum allowed by law in total (8.000€/year).
I have a pension plan in my bank, can I transfer the consolidated rights to Loreto Mutua? What is the cost?
Yes, you can transfer your personal pension plan, from your bank/entity, to the Loreto Óptima Individual Plan without any economic or fiscal cost.
What are the advantages of periodic contributions? Can they be complemented?
It supposes a gradual effort, since the ideal thing is to treat said contributions as if they were a recurrent expense (electricity, water,...).
When a contribution is made, you are purchasing shares of the plan at that time. Therefore, when you are making periodic contributions, participations are being purchased at an average price throughout the whole year, consequently reducing troubles and risks.
You can always complete the periodic contributions with other extraordinary ones until the legal limit of 8.000€/year. Such extraordinary contributions can be made throughout the year, any time you like.
When I will be able to collect my pension plan?
When any of the contingencies covered by the plan, retirement, disability, great disability and death are met. In addition, the Regulations also contemplate the possibility of anticipating the collection of the benefit in the following circumstances: After a L.F.A.P (labour force adjustment plan), after an exceptional settlement for unemployment and finally, for over 60 years, with the specifications set by the Law.
Likewise, they may have as of January 1, 2025, the amount of their rights corresponding to contributions with at least ten years old.
How can I collect my pension plan?
In the form of capital: All the accumulated consolidated rights, at one time are collected
In the form of uninsured temporary income: Monthly payments of the desired amount are received, until all the consolidated rights are exhausted. At any time, a total settlement of the outstanding balance or part of it can be made.
In mixed form: One part is charged in the form of capital and another part in the form of unsecured temporary income.
In the form of insured temporary income: Consists of hiring a fixed income for a specific period of time