Bankia Pensiones S.A., E.G.F.P.
The monthly minimum contribution to the plan will be 50 euros. If this amount is higher, the minimum contribution will be the whole multiple of the amount for the months in the period. Shareholders may always make complementary contributions to those made periodically for amounts not less than 150 euros. Contributions may be made until one year prior to the expiry of the guarantee, which is 31/07/2016.
The participant's total and permanent inability to work in his/her usual profession, or absolute and permanent inability to perform any work, and severe disability.
Death of the shareholder or beneficiary, which can generate the right to a survivor's (widow/widower, orphan...) pension or allowance, or a benefit in favour of other heirs or designated persons.
Severe or high dependency of the participant.
EXCEPTIONAL CASE OF LIQUIDITY: Long-term unemployment; Severe illness and Contributions with a longevity of over 10 years.
Shareholders and beneficiaries may mobilize for this pension plan vested and economic rights from any other pension plans they hold managed by other management institutions. Mobilization applications may be soubmitted up to 31/07/2016.
Management and Deposit fees
1.25 | 0.05
It is necessary to distinguish between the time of the contributions and the benefits:
Contributions: The total amount of the contribution is deducted from the general part of the taxable base for Personal Income Tax (IRPF) to the lesser of the following amounts: 8,000 euros a year or 30% of the sum of the net earnings from work and economic activities during the financial year.
Contributors whose spouse has no income in the general portion of the tax base or earns an income of less than 8,000 euros a year will be able to deduct from the tax base any contributions to pension plans in which the spouse is a participant, with an annual maximum limit of 2,500 euros.
Contributions made by disabled people: maximum reduction 24,250 euros per year. The parties who can make contributions to a disabled person's pension plan (degree of physical or sensory disability greater than or equal to 65%, mental disability greater or equal to 33%, and those with legally declared incapacity, regardless of the degree), the spouse, relatives, directly or via marriage to the third degree, or those who are legal guardians or foster parents, with a maximum deduction of 10,000 euros a year. The application of the established reductions may not lead to a negative taxable sum.
Tax will be paid as on income from work.
a) As capital:
They are not eligible for deductions.
Temporary arrangement: for provisions deriving from contingencies occurring before 01/01/2007 and those occurring after 01/01/2007 for the part corresponding to contributions before 31/12/2006, beneficiaries may apply the reduction established in art. 17 of the Income Tax Act applicable on 31/12/2006. In general, if the benefit is received in the form of capital, a 40% reduction will apply to the consolidated right if the first contribution was made at least 2 years before the date of the contingency.
From 1 January 2015 is limited the application of the aforementioned transitional arrangement (until 31/12/06) to perceived provisions in the exercise in which happens the corresponding contingency, or in the two following tax years
For plans that have not yet been redeemed whose contingencies have already occurred, the limit will be as follows
• Contingencies in FY 2011 to 2014: the transitional arrangement will only apply to benefits received up to the completion of the eighth financial year following the year in which the contingency occurred.
• Contingencies in FY 2010 or earlier: the transitional arrangement will only be applicable to benefits received up to 31 December 2018.
b) As income:
They are not eligible for deductions.
Exemption up to a maximum of 3 times the IPREM (Multiplier effect on index of revenue) in the case of the disabled.
Type of Guarantee
Bankia will pay to the holder/beneficiary, for every share of the Plan subscribed between the date 2 November 2010 and 30 December 2010, the difference that Could exist between the final net asset value the share, by amount in of 117 euros, and the net asset value that the share has on the date 31 July 2017, whenever this is less.
Loss of Guarantee
Any right derived from the commitment granted will be forfeited in the case where a departure from the consolidated rights of the Plan occurs, prior to 31/07/2017 and derived from following circumstances:
For accrued benefit
For mobilisation (total)
In cases of liquidity (total)