Can have liquidity of your pension plan to the 10 years without limit of amount

Redemptions can first be requested starting January 1, 2025
The draft decree recently published by the Ministry of Economy to amend the Regulation on Pension Plans and Retirement Funds (RPFP) includes a mechanism that has been greatly discussed lately, particularly as there are a number of issues to be clarified. Not least, the possibility to redeem contributions paid into pension plans that were made at least 10 years earlier. In fact, this mechanism entered effect on 1 January 2015, which is the date said ten year term will be counted from. In other words, based on this new situation, such redemptions may take place from 1 January 2025 onwards.
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The Government has finally decided not to set a maximum annual amount for pension plan repayments based on the age of the contributions, which will enable investors to access all contributions that satisfy the ten-year requirement. The Government's argument is that this mechanism makes pension plans more attractive, especially in the eyes of younger people, who are somewhat reticent as regards the liquidity restrictions of these products. 
However, based on this new situation, savings and planning experts are in favor of setting some degree of annual limit on redemptions, as there is a risk that the long-term planning aspect of these products will be lost; in other words, they will not fulfill the main purpose for which they were designed: to provide a savings channel that can be accessed upon retirement and that supplements the public pension.
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The Royal Decree will enter a period of public consultation and will then require a report from the Council of State before being passed on to the Council of Ministers. This may delay final approval by up to six months.

The current circumstances for redeeming a pension plan include four contingencies (retirement, inability to work, dependency and death) and three exceptional liquidity events (serious illness, long-term unemployment and the aforementioned liquidity from ten years onwards).

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