The keys to pension plans for the self-employed

One of the products that have been most susceptible to variations in recent years are pension planes in Spain. Specifically, these products have undergone major changes in their conditions with the implementation of the new reforms.

However, after the approval by the Government of Law 12/2022, of June 30, regulating the promotion of employment pension plans, a new opportunity is presented for the self-employed with the emergence of the Employment Plans. Pensions. of Simplified Employment for the Self-Employed of Banco Sabadell. With the limit of 1,500 euros in individual pension plans, the self-employed see their savings options for retirement very limited.

Thanks to Banco Sabadell, self-employed people from any sector can join plans that allow them to contribute up to 5,750 euros per year, 4,250 more than what can be provided in individual pension plans and always meeting a maximum of 10,000 in total of all planes.

Self-employed people can contribute up to 5,750 euros through this plan

Thus, it constitutes a great opportunity for self-employed people who want greater annual savings due to the increase in the final tax degradation. Likewise, this plan allows any import of mobilizations from other pension plans to be accepted.

These simplified employment pension plans are promoted by associations or federations of the self-employed, by unions, by social security mutual societies or by professional associations. Any self-employed person can benefit from them, whether or not they are associated or registered with the promoter. In this sense, Banco Sabadell has linked up with the Union of Professionals and Self-Employed Workers (UPTA) and with the General Council of the College of Economists to give officiality and conformity to its pension plans.

Tailored to each case

The personalized study of the economic situation of each client to provide the best combination between profitability or risk is one of the outstanding characteristics of the Life Cycle management of each client. Thanks to this experience, Banco Sabadell automatically adapts investments based on the proximity of the plan’s payment date and the time horizon of each individual.

Add that this banking entity is the only one on the market that offers individual life cycle pension plans with three different risk profiles, so that each user can choose the one that best suits their needs. As a result of this work, Banco Sabadell has occupied the top positions in the INVERCO rankings in recent years. Likewise, BanSabadell Pensiones has received the first prize for the best pension fund in Spain in the IPE 2022 Awards.

In the previous year, said entity received three very important IPE Awards: best active strategy in employment pension funds, best employment pension fund in Spain and best defined contribution fund in Europe.

Diversity of benefits

In addition to these substantial advantages, these Banco Sabadell Self-Employed Pension Plans provide maximum flexibility in periodic and extraordinary contributions, with the ability to modify their amount or frequency, as well as even cancel their payment. Likewise, the tax advantages of this product reduce the personal income tax tax base for the year in which they are made and in any case, all contributions made by the self-employed person will be voluntary.

These Pension Plans for the Self-Employed provide maximum flexibility in periodic and extraordinary contributions

The maximum annual reduction of the general personal income tax tax base will be the lesser of the contributions made or 30% of the total net income from work and economic activities, according to current tax regulations.

The advance provision may be exercised for the total or partial importation of the consolidated rights corresponding to contributions with at least 10 years of seniority and in case of long-term unemployment and serious illness of the participant or his or her spouse, children or parents are the specific cases in which those where you can withdraw the money early.

‘New pension plans for the self-employed’

If you want to know all the news about the new Simplified Employment Pension Plans for the self-employed, you have the perfect opportunity in the webinar ‘New pension plans for the self-employed’ that will take place on November 30, 2023 and which you can follow online.

This ‘webinar’ will be held on November 30, 2023 and can be followed online

The Director of Business Forecasting at Banco Sabadell, Rosa Mª Moya Martínez, and the Director of Investments for BanSabadell Clients, Jorge Bentué Arantegui, will review the main aspects to take into account when using this tool to plan and face the end of anus. Likewise, those interested will be able to learn about the operation of the life cycle investment strategy applied to plans of this type.

MADE BY ALAYANS STUDIOThis content has been created by ALAYANS STUDIO, Henneo’s Branded Content unit.