Have plans of future? Achieve them with your pension plans

Discovers how work the pension plans.

Nowadays is very important save for the retirement, more if have major plans of future. For achieve it, and as complement to your pension public, have the pension plans. A product whose benefits not end there since, at the same time that accumulate a ‘dinero extra’ for your future, pay fewer taxes in your annual tax return since the contributions reduce the basis of assessment of the PERSONAL INCOME TAX with the limits yearly established for the legislation in every territory (in the general plan, the smaller amount among 8,000€ yearly or to 30% of net yield of the work or economic activities of the exercise)

For this reason, if are interested in contract a pension plan owe follow reading. In this item you explain how work and how you help to fulfill the plans of future that have in mind.

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Operation of a pension plan

A pension plan is a product of investment long-term whose main goal is generate a saving of the one which arrange in the retirement. Your operation is based in the contributions of capital that the participants carry out and that are invested for the managers of the plan in different assets financial. Before choose it, is important set in the investment policy that have, since the is necessary to involve a “higher risk” , associated to investments that can bring a most benefit (and also loss if the evolution in negative), and the is safer but with a smaller profitability expected. On the basis of this there are 3 types:

  • Of fixed-income : the investment carries out in assets of similar designation as obligations, bonds, Treasury bills or promissory notes of companies. These usually have a risk level low (or means) with a profitability smaller in front of other assets riskier.
  • Of equities : bet for assets whose risk is higher (as stock or financial derivatives), what offers a higher earning potential although not is guaranteed and, in the event of stages negative, can entail important losses.
  • Mixed: combine the two previous, being the percentage of each one the one which defines the risk and the expected profitability of the investment.

Key other factor when choose the pension plan with which do reality your plans of future is the contribution type to carry out. This case, there are two types:

  • Contributions on a regular basis: are anyone who carry out in a regular way, usually monthly or quarterly, with the advantage of that can diversify the moment of entered the market and distribute the thrifty effort over the year. Moreover, are completely flexible to the be able to recess at any time and take up again with the same facility.
  • Contributions punctual: are carried out in a sporadic way, in the moment the participant takes the decision of contribute to your pension plan a cash amount in a moment specific in which, for example, has a great liquidity. Additionally is usual do it at the end of the year, coinciding with the fiscal closing that allows deduct in the following statement of the PERSONAL INCOME TAX.
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Have plans of future?

If are decided to save for reach your plans of future, in BBVA have a wide range of pension plans adapted to all the ages and profiles. And if not it have clear, BBVA Invest can help you to know the better choices on the basis of your needs. And if what look for is plan you, thanks to BBVA Future Planner can calculate your retirement depending on the one which be your pension public and the way of life that like have, showing you how achieve that extra money that go to need as a consequence.
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Pension plan tools

  • How much state pension will you receive when you retire? Find out in three simple steps.
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  • 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?