Pension plans

Pension plans
  • Bankia Moderado


    Initial investment

Are you looking for a pension plan? Find the plan that's best for you

Which pension plan are you interested in? Ask the simulator

Tax benefits of pension plans

Everything you need to know about the plans

  • The benefits of contracting a plan

    Making plans today is the best way to ensure future peace-of-mind.
    ¿Sabes que las aportaciones a Planes de Pensiones pueden suponerte un ahorro fiscal de entre el 24 % y el 43 %?Did you know that your contributions to a pension plan can save you between 24% and 43% in tax?

  • Do you have any questions about pension plans?

    Pension plans determine the right of the persons included in them to receive an income or capital payment on retirement, survival, widowhood, orphanhood or disability. See our guide.

  • How do I receive payment from my retirement plan?

    A pension plan participant can choose freely when and how to receive payment from the pension plan, with complete flexibility, choosing between any of the payment methods at their disposal.

Do you live in the Basque Country?

  • How can I contract a pension plan?

    On our website of the Pension Plans portal, within the Saving and Investment section, you will find all the information you need.

    Through our simulator, depending on your age, your saving capacity and your return expectations, you can find out which plans suit your needs the best and proceed with the sign-up process via Oficina Internet

    If you prefer, you can also visit a Bankia branch.

  • What are the tax advantages of contributing to pension plans?

    A pension plan can offer significant savings on tax payments. which will be greater the higher the income of the participant. This saving is made possible because the amount of the contributions can be deducted from the general base of your Personal Income Tax, as long as you earn income from work or economic activities.

    The annual contribution limit is 8,000 euros and the tax deduction limit is the lesser of the following amounts: the amount paid in or 30% of your net earnings from work and economic activities received during the financial year. Additionally, if your spouse does not receive earnings from work or economic activities or earns less than 8,000 euros a year, you will be able to deduct from your general personal income tax assessment basis the contributions to pension plans of which your spouse is the titleholder up to a maximum of 2,500 euros a year.

    Once you begin to receive payments from your pension plan, the amounts you receive (benefits) are considered as earned income for tax purposes and the shareholder/taxpayer must declare them on their income tax return.

    Given that the way of receiving payments is flexible it is important that you take advice on which is most beneficial to you for tax purposes. In the event of the death of the titleholder of a pension plan, the beneficiaries will pay tax on the amounts received as earned income on their personal income tax statement. They are not subject to Inheritance and Gift Tax.

    This information is in accordance with the current legislation and may be modified in the future.

  • How can I receive payment from my pension plan?

    There are various ways to receive payment of the amounts saved in your pension plan. We recommend that before deciding on one of them, you take advice on which is the most beneficial for you in terms of taxation. The ways of receiving payment are:

    • Capital: received in a single payment.
    • Financial incomes: the amount is fixed that it wishes to receive and the frequency until the end of the accumulated capital. In this way, you benefit from the interest that continues to be generated by the unconsumed capital in the pension fund. This formula can be adapted to your financial needs at any particular time, as it allows you to freely modify the amounts and the frequency of payment.
    • Insured incomes: amounts that it receives are fixed and they hire with a company insurer, which him guarantees the charge of the income in the term previously set. The conditions of this income cannot subsequently be modified.
    • Collections without regular frequency: the money is had in the shape of payments without an established frequency.
    • Mixed: the combined provision, a part is been paid in the shape of capital and another in the shape of financial incomes. The combination of the way of receiving payment can be freely modified.
  • Open (Fund):

    A type of pension fund characterised by being able to channel the investments of other pension funds. For its constitution it does not require an initial minimum capital for its correct financial development.

  • Business contributions:

    These are financial contributions made by the promoter of a workplace system pension plan

  • Contributions:

    They are the financial contributions that will be made by the promoter and/or participants, in the cases and ways that, in accordance with the current regulations, are established in the respective pension plan.