Effective Tricks to Rescue Your Pension Plan

We present you some of them below Effective tricks to rescue your pension plan, since there are currently different modalities to do so, for example, in the form of periodic incomeIn this case, the money can be recovered little by little, receiving monthly income, quarterly, semiannual either annual.

Another of the modalities The most used is the pension bailout in the form mixed, where it is possible to receive a down payment and later periodic income.

Tips to Rescue the Pension Plan

What is the best way to withdraw a pension plan?

One of the most common ways common and profitable To rescue a pension plan is through the hiring of the plan itself. This can be beneficial in tax terms, as it allows you to reduce taxes in the income tax return.

It should be noted that, although the maximum annual contribution to pension plans has been drastically reduced in recent years (currently set at 2.000 €), remains a reliable financial product for the retirement planning.

By choosing the wrong rescue method, you could squander the benefits of the plan only in taxesIt is crucial to carefully analyze the options before making a decision.

5 tricks to rescue a pension plan

1. Evaluate your tax situation: Analyze your annual income and optimizes the fiscal impact.
2. Consider the redemption in the form of income: This option distributes the tax burden and ensures a steady stream of income.
3. Combines modalities: If you need a down payment and periodic income, mixed rescue may be ideal.
4. Take advantage of tax deductions: Investigate possible deductions in your autonomous community.
5. Don't rush: Avoid withdrawing your plan early unless strictly necessary.

Different ways to withdraw your pension plan

Bailout in the form of capital

This means the collection of the pension plan in its whole in one go.

Rescue in the form of income

This way you can receive periodic amounts, whether they are monthly, quarterly either semiannual, with the possibility of personalizing both the periodicity like the amount.

Mixed rescue

A combination of the above options, allowing for a down payment and periodic income.

Rescue in the form of a life annuity

Ideal for those looking for stability long-term. Instead of exhausting the money in the plan, an income is calculated that can be maintained for life.

It is important to remember that, except in the option of annuity, the rescued money is considered as labor income and not from savings, what it has tax implications.

Can the pension plan be withdrawn early?

Under normal circumstances, the pension plans They are designed to be rescued in the retirementHowever, there are exceptions that allow early redemption:

1. Long-term unemployment: If you have exhausted the unemployment benefits, you can access your pension plan.
2. Permanent disability: Rescue is possible if you suffer partial or total disability.
3. Serious illness: Both you and a close relative can request early redemption in case of high medical expenses.
4. Contributions over 10 years: From 2025, contributions made since 2015 can be withdrawn if at least 10 years.
5. Death: Beneficiaries of the plan will be able to recover it in case of death of the holder.

How much money does the Treasury take for withdrawing a pension plan?

The taxes depend on the rescue modality chosen, but in all cases they must be included in the labor income (not in the savings income). This means that a different tax scale will be applied depending on the individual situation when making the income tax return.

Why are pension plans declining so much?

The individual pension plans have suffered a slope in recent years due to the reduction of the contribution limit 1.500 €. In addition, retirement withdrawals and depreciation of the assets in which they are invested have contributed to this phenomenon. According to Inverco, the total amount managed by individual plans has declined significantly, affecting its popularity as an instrument of social security.