Pension plans

Pension plans

We all have our plans

What do our pension plans offer?

We offer a comprehensive range of pension plans so you can choose what best fits your investor profile, the level of risk you want to take on and the time horizon you choose, looking for the best possible returns.

What are the advantages of our pension plans?

Pension plans let you obtain the best tax savings with the best flexibility when it comes to how you contribute.

Tax advantages

You will be able to deduct the contributions you make to our pension plans from your personal income tax (IRPF) tax base, within the limits set, it being a product with very advantageous taxation.

Maximum flexibility

Our pension plans are adapted to you: you choose their composition, selecting the plan, the amount and the time when you contribute or even if you want to stop contributing.

Risk diversification

You can distribute your savings between several pension plans, from the most conservative to the most aggressive, in order to diversify the risk; you will always be able to transfer your savings between the different plans without any problem.

Pension plans

How does a pension plan work?

Our pension plans are designed so that you can set them up from a minimum amount, and make additional contributions whenever and however you want, within the maximum annual limits established by legislation at any given time.

We offer different options depending on the returns expected and the level of risk you want to take on.

How are our pension plans taxed?

Both our personal pension plans and our Insured Pension Plans (PPA) enjoy excellent tax advantages since the contributions that are made to them are deducted from the personal income tax (IRPF) tax base in the financial year in which they are made. The limit for these contributions is currently set at 8,000 euros a year. 

On the other hand, if contingencies arise that allow for the corresponding benefits to be paid, they will be taxed as earned income, regardless of the type of payment chosen. 

Returns on the pension plans

You can choose the pension plan that best suits your needs according to the risk you want to take on and the returns you are looking for. 

If what you are looking for are guaranteed returns, without any risks, we offer our Insured Pension Plan (PPA). 

If you want to take on some more risk in the interest of obtaining better returns, we offer several pension plan options for you to choose from, depending on the time left until you retire. 

If your time horizon is medium or long term, and you are looking to achieve higher returns by taking on more risk, you can choose pension plans comprised of a higher percentage of variable income, i.e. Plus Ultra mixed or Plus Ultra variable income. 

On the contrary, if you are close to retiring or looking for an investment that minimizes the risk, we propose our pension plans with a higher fixed income component, such as Plus Ultra dynamic or Plus Ultra fixed income. 

To maximize your investment in the medium term with a moderate level of risk, our Plus Ultra mixed fixed income pension plan is ideal - at least 70% of it is comprised of fixed income and the rest is variable. 

FAQs

Pension plans aim to generate savings for retirement to supplement the pension. They are based on the contributions made by the customer, which are invested by the plan's managers according to the returns and risk criteria of the product chosen by the customer. 

The investments, which as mentioned depend on the plan chosen, range from fixed income to variable income, or a combination of the two, in different proportions. It is also possible in the case of Insured Pension Plans to have guaranteed returns that the customer knows about in advance. 

Pension plans and Insured Pension Plans (PPAs) are products designed to generate a financial supplement for retirement. Therefore, the purpose of both products is similar. 

But since the saver profile is not always the same, these products are designed to meet the needs of different savers. 

The main difference between a PPA and a pension plan is the security of the investment. A PPA will always guarantee that the saver will recover at the very least the money invested when the situation arises that makes it possible to pay out the same. 

On the other hand, in the case of personal pension plans, this guarantee cannot be offered since the savings contributed will be increased or reduced according to the evolution of the securities comprising the pension plan chosen. 

Just as while you were contributing to the pension plan, these amounts reduce your personal income tax (IRPF) tax base (within the limits set by legislation), when redeemed, the income you receive is considered to be earned income and increases your tax base accordingly. 

Therefore, it is important to minimize the tax impact by choosing a suitable method for redeeming these funds. We can do this in the following ways: 

  • Redemption in the form of capital: This consists of recovering all the capital accumulated at once, in this way, it is necessary to apply the applicable marginal rate to your total income in that financial year, with the total of your public pension plus the capital of the pension plan redeemed being considered as such.

    Therefore, the tax impact for this method of redemption occurs more abruptly in a single year.
     
  • Redemption in the form of income: In this case, you choose to receive an amount of the capital generated by the pension plan, with the frequency you decide (monthly, quarterly, every six months or annually), which can be fixed or variable, as you choose.

    In this case, the tax impact is more progressive since it is diluted across the years in which you are going to receive the income.
     
  • Mixed redemption: This consists of receiving part of the savings generated in the form of capital and part in the form of income. 

Why take out your pension plan with Plus Ultra?

You can choose the pension plan that best suits your investor profile, with the highest guarantees of professionalism from Plus Ultra Seguros.

Perfect addition

With our pension plans, you will be able to supplement your pension with the aim of maintaining your standard of living after you retire.

Tax advantages

The contributions you make to the pension plan can be deducted when filing your annual tax return, thereby reducing your personal income tax (IRPF) tax base. 

Flexibility

You will not have to make regular fixed contributions, rather, you choose the amount and frequency of your contributions, depending on your situation.