A private pension plan is a concept with more and more presence in the media and it is a financial product with more and more followers. Why is this happening?
Mainly because the social, political and economic situation of the recent years have been offering us some very pessimistic data about the viability in the medium-long term of public pensions. Because of this, more and more people are opting for this option of retirement planning. What are its advantages?
Obtain short-term tax benefits
It allows us to deduct 30% directly from the taxable income, the income obtained from work or up to a maximum of € 8.000 for the amounts contributed during the year. To this we can add the deduction from which we can benefit from the contributions made to the pension plan of the partner, whose maximum amount will be € 2.500.
We obtain long-term profitability
Its composition is similar to that of investment funds, which comes to affect us in that we have the option to decide the profile that we want to use for our plan, from the most conservative to a more risky product. Although regardless of the profile we adopt, the profitability is always greater than that of a current savings account keeping the money completely paralyzed.
We increase our ability to save
There are two ways in which we can contribute amounts to our pension plan: by regular contributions and extraordinary contributions. It is advisable to do it in a planned way and with a reduced and constant amount, in such a way that our monthly finances are not affected to a great extent.
We complement the public pension
Due to the uncertainty surrounding the long-term viability of the pension system currently offered by the state, it is very likely that in the coming decades it will suffer variations in its pensioner remuneration system in such a way that its pension income level is reduced. With a private pension plan we will minimize the impact that we may suffer in our economy due to these factors.