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
Retirement plan
| Retirement plan | |
|---|---|
| Advantages | Disadvantages |
| Liquidity: the insured can recuperate the money at any moment, although he or she must pay the cost of the process. | Taxes will be paid periodically through the tax declaration. |
| Once received the total amount of money, it won’t be necessary to pay taxes for it, just for the interests generated. | Less profitability. |
| Pensions plan | |
|---|---|
| Advantages | Disadvantages |
| Better profitability and more diversity in function of our economic characteristics and the risk profile. | Low liquidity. In case of very specific exceptions money can be collected before retirement. |
| Taxation: Eligible for a reduction on pay as you earn rates (IRPF). | Annuities are considered as earnings and are taxable in consecutive tax declarations IRPF. |
| Different modalities in function of the risk to assume. | |
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