What plan adapts better to your objectives of saving?

Finds out the conditions of each one.


The pension plans are the vehicles of saving for the retirement more popular. Are based in the contributions of capital that your account holders carry out and that are invested for the managers of the plan, following the criteria of profitability and risk previously set in the investment policy of the same one.

For this reason, and before contract it, owe set you good in this investment policy of the plan, since is the one which mark of if is suitable or not for the fulfillment of your objectives of saving. In this item you explain the 3 criteria that govern nature of the plans.

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According to your investment policy

The investment policy of the plan usually mark, as have the above-mentioned, if this you help or not to fulfill your objectives of saving. For that reason, recommends revise good the assets in which invests and your characteristics (above all the risk level). Is a total of 4 types of plans according to this investment policy:

  1. Fixed income: the investment carries out in assets with similar designation (for example obligations, bonds, Treasury bills or promissory notes of companies). Usually have a risk level low (or means) and a profitability smaller in front of other assets riskier.
  2. Variable income: bet for assets of risk higher (as stock or financial derivatives), fact that offers a higher earning potential although not is guaranteed and, in the event of stages negative, can entail important losses.
  3. Mixed income: combine the two previous, being the percentage of each one the one which defines the risk and the expected profitability of the investment. 
  4. Guaranteed: the account holder has guaranteed that recover all the money invested, as long as keeps the plan to date of maturity. To the guarantee all in advance, these plans entail a very reduced risk, although your profitability is smaller. Can be of 2 types:
  • Yield Fixed: guarantee, to maturity, the reach at least a net asset value determined or a percentage of profitability minimum.
  • Variable Yield: ensure the recovery of the initial investment more a possible profitability additional linked, total or partially, to the evolution of equities instruments, currency or any other asset.

According to the contributions and benefits

The pension plans nourish of the investments that carry out the account holders in such a way that, depending on the amount of these contributions, can distinguish 3 modalities:

  1. Defined benefit plans: fixed for the moment of the rescue so much the capital contributed by the participant as a benefit or profitability guaranteed, previously defined, varying annually the contributions to carry out depending on calculations actuarial.
  2. Defined contribution plans: establishes the amount of the contributions to carry out for the participant (or for the developer). Unlike the previous one, not are stipulated the benefits future, that quantify in the moment takes place the contingency and depending on the capitalization of what was contributed.
  3. Mixed plans: are a combination of the two previous. Thus, fixed a contribution on a regular basis and, at the same time, establishes a profitability or benefit minimum that the account holder obtain when rescue the plan.
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According to the developer

The developer of a pension plan is who it creates, not the account holders of the same one. Can be any company, corporation, society, trade union or association and, on the basis of this, there are 3 types:

  1. Of employment: give when the account holders are employees of the companies or corporations that promote the plan, being able to carry out contributions for both parts.
  2. Individual: the developers are financial institutions and the titular individuals, being contracted for these last one for reach your objectives of saving to future.
  3. Partners. the promote the guilds, trade unions, or associations and your account holders are your own members.

After read the text, already know all the pension plans that is and how structure. Is the moment of come to your office of BBVA to learn more on all your options or use our simulator of pension plans without forget read all the documentation of the plan before contract for know good all the risks that has partners.

Additionally from bbva.es can access BBVA Invest, where our experts you recommend the better choice on the basis of your needs.


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