[F17][Navegacion] Pension and social welfare plans
[F23][Productos] Business - Pension and social welfare plans
This is a company social welfare product. There are several types, ranging from the bespoke occupational pension plan, the jointly promoted occupational pension plan: suitable for groups of companies or industries; or the jointly promoted occupational pension plan with a standardised design. They have 24-hour assistance 365 days a year and personalised advice, among other benefits.
The Company Social Welfare Plan is an insurance with a secured return, with a guaranteed interest rate when the benefit becomes payable. Simple and easy to implement, it eliminates the possibility of losses at the time of payment, optimises the tax return on savings and has a guaranteed interest rate.
Residents of the Basque Country have their own specific social welfare plans. A flexible long-term savings product with excellent tax efficiency. It has different models, such as the Occupational pension plan, Jointly promoted occupational pension plan and Jointly promoted occupational pension plan with standardised design, in addition to other benefits such as 24-hour assistance all year round and personalised advice.
Frequently asked questions
VIDACAIXA S.A. DE SEGUROS Y REASEGUROS, like all other insurance and financial institutions, is required to have an up-to-date copy of the current identification documents of customers to comply with the provisions of Law 10/2010 on the Prevention of Money Laundering and Financing of Terrorism.
The insurance institution must have the required documentation before 30 April 2015. If this is not the case, the products that have been taken out with our company will be blocked.
In the case of retirement:
When you retire, you will have to decide how and when you want to collect on your plan by contacting your branch of "la Caixa".
If you do not have entitlement to retirement (due to the fact that you have never paid social security contributions, etc.), the contingency will be deemed to have occurred after the ordinary retirement age in the General Social Security System (65 years), at the time when the participant does not work or has ceased working and is not contributing towards the retirement contingency in any social security system. However, the benefit may be paid in advance as from:
- age 60
- age 45, if the policy holder is disabled
In the case of disability:
The plan may take effect in the event of total and permanent disability for the usual occupation, or absolute and permanent for any type of work, or severe disability.
In the case of death:
In the event of death, both in the period in which the contributions are made (participant) and in the period in which benefits are received (beneficiary).
In the case of serious illness:
When it is accredited with a medical certificate from the Social Security or an approved body:
a) any physical or mental illness that temporarily incapacitates the patient for a continuous period of at least 3 months and that requires a major surgical intervention in or treatment at a hospital.
b) any physical or psychological illness or injury with permanent consequences that partially limits or totally prevents the usual occupation or activity, whether or not assistance is required from other people.
In the case of long-term unemployment:
When the participant is legally unemployed (not voluntary), provided that he or she is registered with the National Employment Institute (INEM) or the competent body and does not receive contributory benefits.
In the event of death, either during the period in which the contributions are made or in which an annuity is already being received, the accumulated balance will be paid to the spouse, children or any other person who has been named by the policy holder.
As a capital sum:
All accrued consolidated rights are paid in the form of a one-off capital sum.
As a financial income:
This consists of an income, the amount and frequency of which (monthly, quarterly, half-yearly) is decided by the customer and which is paid until the accumulated balance is exhausted. The balance outstanding or part of it may be paid at any time, in which case the subsequent annuities will not be paid until the balance advanced has been offset.
As a capital sum and financial income (mixed):
One part is collected in the form of capital and the other part in the form of financial income.
As an assured income or as an insurance:
It is possible to receive an annuity for life, for one or two lives, and with or without life insurance. Furthermore, if you wish, you can choose to take out an annuity for a certain period of time, but without capital on death.
A pension plan is a product that allows you to save in a convenient way so that you can have a capital sum or an income at the time of retirement or in the event of invalidity and in the event of death, so that your beneficiaries can receive it.
But also, at the moment, pension plans are the product that allows you to obtain the maximum tax saving in your income tax return.
Maximum annual contribution: The maximum annual contribution you can make is €1,500.
This limit includes contributions to all pension plans, insured pension plans, corporate social security plans, certain Social Security Mutuals and private insurance that exclusively cover the risk of severe dependency or high dependency, also including corporate contributions>
This limit shall be increased by €8,500, provided that the increase comes from employer contributions, or from contributions by the employee to the same social security instrument for an amount equal to or less than the respective employer contribution.
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[F11] Why VidaCaixa
More than 100 years of experience in retirement
We have been helping people prepare for their retirement and offering personalised advice for over 100 years.
We are leaders
VidaCaixa is the largest insurance group in the country and first in the life insurance and pensions rankings.
Committed to our customers
We are the private entity that makes the most payments: about €4 billion each year.
We are the best pension fund manager
The quality of our management can be seen from the more than 25 internationally prestigious awards, including best pension fund manager, and the trust of so many customers.More information