Savings, retirement and pensions

Savings plans are aimed at:

A company that wants to offer its employees savings tools, or externalize their pensions commitments for their employees.
Families and individual people who wish to have a tailored savings plan so that when the moment for a person’s retirement arrives, they are able to maintain their quality of life although they are no longer working.

Modalities for savings plans

Pensions plan

It is a savings insurance whose objective is to complement the retirement pension. With a pensions plan, when the moment for retirement arrives, as well as receiving the state pension the insured will receive the money invested in his or her plan and the interest from such an investment.

Retirement plan

Its function is the same as a pensions plan but the tax treatment is different.

Retirement Plan
Advantages	Disadvantages
Liquidity: The policyholder may withdraw the money at any time, although they will have to assume a penalty for the process.	Taxes will be paid on the periodic benefits declared in the income tax return.
Once the full amount has been received, no taxes will be paid, but taxes will apply to the interest.	Lower profitability.

Pension Fund
Advantages	Disadvantages
Higher profitability and greater diversity depending on our economic characteristics and risk profile.	Low liquidity. Only in very exceptional cases can the money be withdrawn before retirement.
Tax benefits: Participants may benefit from a reduction in the general taxable base of the income tax (IRPF).	Benefits paid as income are considered employment income and will be taxed in subsequent IRPF declarations.
Different options depending on the risk to be assumed.