How can you rescue a pension plan
Nowadays, thinking about retirement is almost a difficult task, since young people or middle-aged people are more concerned with stabilizing their economy and finding a reliable source of income on a continuous basis. With the concept of retirement we also find the term of pension plan.
A pension plan is nothing more than a procedure or formula for saving (for many other experts it is an investment) ideal to cover certain situations close to retirement or within one’s own retirement (dependency, death, disability, etc.). Nowadays one of the main concerns of users who have hired a pension plan in a way is related to the idea of how to rescue a pension plan .
As we have said before, a pension plan is nothing more than an investment model (contracted through bank branches), in which the user will contribute a certain amount of money in a stipulated time and manner. The big doubt for many consumers lies in the fact of charging this pension plan, in other words, how to act to be able to rescue the pension plan and enjoy the saved capital .
On this subject a lot has been written and it is very important to have things clear so as not to take unpleasant surprises. Let’s see the main characteristics that govern the rescue of a pension plan.
All about rescuing pension plan in 2017
First of all it is necessary to take into account that a pension plan is a banking product, therefore it is a contract in which the conditions and characteristics of the same must be negotiated. In view of a pension plan, the following relevant qualities must be taken into account:
- It is an investment product to be enjoyed in the periods included at the arrival of retirement.
- It is not necessary to release the collection of the pension plan when the golden age of retirement is reached .
- One of the great advantages of pension plans is taxation, all contributions made are subject to a reduction of the tax base in income .
- Liquidating a pension bread is subject to retirement situations or certain situations: long-term unemployment, serious illness, disability and death.
It is at this point that there is greater controversy on the part of consumers, who want to have total certainty about what situations it is possible to rescue their pension plan.
The big doubt lies in how to rescue a pension plan, for this there are two types of situations: rescuing pension plan without retirement or the rescue of the pension plan in retirement .
How to rescue pension plan without retiring
Pension plans are long-term investment products, designed by and to be used for retirement age and period. But there are some situations in which you can get the liquid of this long-term savings without the need to be in the age and situation of a retiree .
Thus, it is possible to identify the following scenarios that favor rescuing pension plans without retiring:
- Eviction . Finding oneself in a context of eviction, in any of its forms: forced judicial, administrative execution or extrajudicial sale process, allows the option of rescuing the pension plan only if the amount thereof is sufficient to cover the debt incurred.
- Serious illness Faced with a serious illness (illness that incapacitates normal activity for at least three months or requires surgical or hospital treatment), it is possible to rescue the pension plan.
- Unemployment Another option, very common, to rescue the pension plan without retiring is to be in a situation of long-term unemployment. In this situation it is possible to influence certain nuances: rescuing the pension plan must not deprive the unemployment rate, situations of voluntary or forced unemployment are valued. Nowadays, many situations have been found that combine the request of a quick loan and the rescue of the pension plan, in order to face a complicated economic situation.
- Rescue of pension plan at 10 years . From the tax reform, it is possible to rescue the pension plan at 10 years, with no more pretension or desire than to want to withdraw the liquid saved. A big bottle of oxygen to be able to rescue pension plan without retiring.
Once seen those situations where it is possible to rescue the pension plan without retiring , it is worth mentioning that fiscally the contributions of this pension plan will be valued as work income, and probably taxed by the maximum marginal rate. In other words , the total amount saved will not be charged , otherwise it will suffer a reduction of the final calculated amount.
Rescue pension plan in retirement period
Retirement is undoubtedly the ideal context to rescue the pension plan, arrived at this period consumers are eager to know through all kinds of ways, even with the use of a rescue simulator of a pension plan , which is the best moment and the final liquid amount that they may perceive.
Reaching retirement is one of the main premises for rescuing the pension plan, so we can find the following options to rescue the 2017 pension plan:
- Rescue in the form of capital . In this modality, it is possible to recover 100% of the capital contributed to the pension plan, facing a single tax payment (tax base resulting from the public pension plus the added capital of the pension plan).
- Rescue in the form of income . With this option you will receive a periodic amount of money that can be fixed or variable . There are two well differentiated modalities, the first of which is the so-called insured rent, where the same fee will always be charged. On the other hand we have the financial income, where the fee varies depending on the profitability of the pension plan.
- Mixed rescue Another good formula to achieve the rescue of the pension, is the mixed mode. In this modality, one part will receive it in capital or liquid and the other part on a regular basis . This is a very common way of obtaining the income from a pension plan that is quite widespread at present.
As can be seen, there is great flexibility to be able to rescue the pension plan in 2017, either in full retirement or rescuing the pension plan without retiring in some way it is possible to obtain the amount of savings. That is why it is always advisable to have a good economic management as we have already explained in other articles such as the Kakebo method so as not to have this kind of problems.
It is true that we must take into account the relevant fiscal and tax connotations of such capital, it is also a priority to take into account Law 35/2006 of IRPF, for which only 60% of the capital will be taxed, by obtaining a reduction of 40%. % in the rescue of pensions with seniority 12/31/2006 or earlier.
With all the data and information that you have been able to obtain from the post of Good Bank, it will be the personal and financial situation of the consumers that will give an answer to know when is the best moment to rescue their pension plan.