When can I withdraw the plan?

Retirement

The contributions you make to your pension plan that do not exceed the limits set by law reduce the taxable base of the IRPF for the year in which they are made. Although you will have to pay tax on those same amounts (plus the generated returns) when you recover them, you will have deferred the payment, with the financial savings that this entails.

In general, you will have to wait until your retirement to be able to collect those benefits (or until you turn 65, as long as you do not engage in any activity), so it is normal that at that time your annual income will be lower and you will have to pay tax on them at lower IRPF rates than in the year of contribution.

Well, remember that there are other contingencies that also allow you to receive the benefits of the pension plan early.

 

Other contingencies

One of these cases that allows you to collect the plan early is falling into total permanent disability for your usual profession, absolute permanent disability, or severe disability , situations that must be determined according to your regime in Social Security. Likewise, you can withdraw your plan in case of severe dependency or great dependency .

On the other hand, you can also recover your plan when you have an ailment or injury that does not give rise to the perception of a benefit for permanent disability and that meets any of these requirements:

• That temporarily incapacitates you for your usual occupation or activity for a minimum continuous period of three months and requires clinical intervention of major surgery or treatment in a hospital.
• Or that results in permanent sequelae that partially limit or totally prevent your usual occupation or activity, or that incapacitate you for the performance of any occupation or activity.

Another contingency that allows you to receive the benefit is long-term unemployment .

Finally, remember that you can also access the contributions made at least ten years ago in advance.

 

 

 

Our professionals will resolve any questions you may have regarding the taxation of your pension plan.