The first solution that improves your future as self-employed

Simplified workplace pension schemes are social protection products that:

• Allow compliance with the obligations set out in certain collective agreements and facilitate retirement savings planning for employees.
• Allow self-employed individuals to have a specific plan designed for them (such as the Destino Simplified Workplace Pension Schemes of the National Federation of Associations of Self-Employed Workers – ATA).

The deposits allowed for pension schemes vary depending on whether the holder is self-employed or a freelancer. In this case, they have been limited since the Spanish Law 12/2022 came into effect to boost workplace pension schemes. Therefore, self-employed can deposit up to €1,500. However, unlike salaried employees, they can add another €4,250 into specific simplified workplace pension schemes for the self-employed.

A worker who’s contributed to the Special System for the Self-employed (RETA) for eight years and then another 16 years as a salaried employee, will be entitled to a retirement pension from the general system that will take into account the 24 years they contributed and not only the 16 years contributed under the general system.
Likewise, a worker who has worked for 10 years as a salaried employee and then become self-employed and worked for another 12 years will be entitled to a pension from the Special Regime for the Self-employed, which will take into account the contributions for all 22 years.

From the moment they start working, most of the self-employed, about 60%, contribute the minimum fee to the Social Security institution, which means all their benefits will also be the minimum amount offered by this institution. In this case, the self-employed have two alternatives to the standard retirement: one option that is still largely unknown to the self-employed but has recently been reformed and improved. Or an active retirement, to which no more than 40,000 self-employed persons have subscribed, but would allow them to combine the benefit with the business income. Setting up a simplified workplace pension scheme and guaranteeing a good nest egg for the future, as we offer at VidaCaixa, is one of the best ways to ensure a good retirement for the self-employed.