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.
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.
Frequently asked questions
It is a document that contains the conditions of the insurance. It comprises, inseparably, the general conditions, the specific conditions and, where applicable, the special conditions and/or the subscription certificates, as well as the supplements that modify or complement the previous ones.
This is a contract that allows you to insure capital to cover unforeseen situations in the event of death (or disability, if this coverage is included).
A pension plan is a product that allows you to save comfortably so you can have capital or income when you retire or in the event of disability and, when you die, so your beneficiaries can have it. Pension plans are also currently a product that allow you to maximise savings on your income tax returns.
To facilitate the assignment of beneficiaries in the event of death, at the time of signing the contract we will provide you with a form where you can specify them. You can change these names as many times as you wish.
Depending on your age and the capital sum you wish to insure, you will be asked to undergo medical tests, ranging from a brief health questionnaire to a medical examination. If you have to undergo a medical examination, you will be able to do so in reputable centres in your city or province, and always free of charge.
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