Tax rules of pension plans

Contributions and provisions made into pension plans reduce your assessment base for Personal Income Tax (IRPF)
Usually, when we think of a pension plan, we tend to focus on the benefits it will bring us at some point in the future. This is important, since it is indeed worth having a pension that guarantees us a reasonable quality of life during retirement, especially given our current situation. Of course, achieving the quality of life we desire is one of the main purposes of this kind of product.
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But a pension plan is much more than just something for the future, as it also provides us with benefits in the present. In fact, it's a good way to save in your own time, and also obtain interesting tax benefits. On this note, contributions that are made to a Pension plan on a periodic or one-off basis reduce your taxable income for Personal Income Tax purposes, differing the payment of tax.
Although by definition a Pension Plan is always beneficial for its holder, it is important for each individual to find the plan that is most suitable for his or her own circumstances, especially given the wide range of Pension Plans offered on the market and the number of individual features and conditioning factors for each of them.
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For this, at BBVA we have an extensive range; undoubtedly we have the one you are looking for. We also offer hyper-competitive conditions and very advantageous discounts of up to 3%.

Think about your future by saving money now: we invite you to take a look at BBVA's Pension Plans.

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  • We are going to explain how you can calculate the pension benefits you will receive after retiring.
  • Several factors can affect the personal income tax withholding for retirement pensions. Determine your percentage.
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Pension plan tools

  • How much state pension will you receive when you retire? Find out in three simple steps.
  • Find the pension plan that best suits your savings needs and start planning your future.
  • Our comparison tool will enable you to know the characteristics of all our plans and choose the one that best suits you.
  • With our calculator, you can find out the final benefit you will receive when you retire.
  • Would you like to know how much you can save on your annual tax return if you contribute to a pension fund?