Retirement is approaching, how do I redeem my pension plan?
How to redeem the savings in your pension plan is one of the most frequent questions when reaching retirement. Here we are going to show you the three ways of doing this.
The pension plan can be redeemed in several ways. You can decide to redeem your savings in the form of capital, that is, all at once in a lump-sum. You may prefer to gradually redeem them in the form of monthly income to supplement the state pension. However, it is also possible to redeem them in a mixed way: some as a lump-sum and the rest in the form of income.
It is important to thoroughly plan how you will redeem you pension plan with the help of an expert advisor to optimise the tax issues given your needs. Our managers can help you. Find out about this at your CaixaBank branch.
The important thing when optimising how to redeem your pension from a tax perspective is to carefully plan how to redeem the money taking into account your needs and the amount of income that will be obtained. Keep in mind that the higher the amount received annually, the higher the tax rate you will be charged.
Recommended products
Pension plans
Generate savings to be used at the time of retirement, which you can use to supplement the state pension.
On retirement date, although it can be paid early in other specific situations.
Important income tax savings.
Annuities
An annuity is a product that transforms savings into a guaranteed monthly income for life.
Immediate. It can be redeemed at any time if needed, except in the case of transferred capital.
It has an attractive return and an advantageous tax treatment in addition to liquidity at any time, guaranteed interest for life and the possibility of having one or two holders.
All about retirement
in Spain
Find all the answers you are looking for
on how to prepare for your future
Subscribe to our newsletter
You will learn how to have a worry-free future
Why 
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