Pension plans

EPSV Individual Pension Plan

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What makes our EPSV individual pension plans different

EPSVs are a specific savings product for residents of the Basque Country, aimed at supplementing the public pension system. They are contracted through a Voluntary Mutual Benefit Organisation (EPSV) and have significant advantages, regarding both tax matters and their management.

Flexibility

You have the freedom to decide how much to invest each year and make contributions whenever you want.

Suspend and resume when you like

You can suspend and restart your contributions at any time if you need to, without any penalty.

Transfer of rights

You can transfer the accumulated rights of other pension plans and/or insured party pension plans.

Free drawdown

Choose how to retrieve the capital: in the form of income, full or partial redemption, or a combination of the two.

Tax relief

Benefit from the deduction of all your contributions and those of your spouse from your taxable income base.

Performance

Your products will be managed by professionals who seek maximum returns with the lowest risk.

Tax benefits of EPSVs

Tax treatment of contributions

Tax benefit with a reduction in the taxable income base for Personal Income Tax. You cannot apply this reduction from the beginning of the tax period following your retirement.

Taxation of benefits

The benefits are classified for tax purposes as earned income, and the corresponding tax withholding will be applied pursuant to the Personal Income Tax Withholding tables approved by each Provincial Council.

Returns on our EPSV

The performance of the EPSV will depend on the performance of the assets in which the fund is invested. Based on the plan's investment policy, the plan will invest in money market assets, fixed income (debt), equities or a combination of these. (*) Previous returns do not guarantee future returns.

Relevant information

Performance APR

Plans	APR 2023	APR 2022	APR 2021	APR 2020
Occident Previsión Renta Fija	3.67%	-4.53%	-0.61%	0.34%
Occident Previsión Mixto Fijo	7.78%	-8.57%	6.61%	-0.64%
Occident Previsión Mixto Variable	11.40%	-9.45%	3.24%	-
Occident Previsión Renta Variable	21.36%	-14.64%	26.50%	7.64%

Categories of our EPSVs

100% of your investment in the individual pension plan is in fixed-income assets.

Divide your investment. Between 15% and 30% in equities, and the rest in fixed income.

Between 30% and 75% of capital invested in equities, the rest in fixed income, with liquidity management.

It invests a minimum of 75% in equities.

FAQs

No, you cannot open an EPSV in such a situation. However, if you open an EPSV before retirement, you can continue to make contributions afterwards and decide when to receive them. In general, it is incompatible to make pension contributions and at the same time receive benefits for this contingency.

Only contributions made up to the year following retirement can be reduced.

Yes. They have different regulations but the same limit.

The vested rights of an EPSV cannot be subject to attachment, judicial or administrative seizure until the contingency occurs or until they are paid out in the case of serious illness, unemployment or redemption on the grounds of 10 years' service.

Yes. The law allows transfers between different plans within the same EPSV and between different EPSVs.

Transfers can be made either of the total savings accumulated, or part of this amount. In the latter case, the length of the period of contributions to the original EPSV is not transferred.

FAQs

EPSV Individual Pension Plan

What makes our EPSV individual pension plans different

Flexibility

Suspend and resume when you like

Transfer of rights

Free drawdown

Tax relief

Performance

Tax benefits of EPSVs

Tax treatment of contributions

Taxation of benefits

Returns on our EPSV

Tax treatment of contributions

Taxation of benefits

Returns on our EPSV

Relevant information

Performance APR

Categories of our EPSVs

Occident Previsión Renta Fija, PPSI

Occident Previsión Mixto Fijo, PPSI

Occident Previsión Mixto Variable, PPSI

Occident Previsión Renta Variable, PPSI

FAQs

Once I am retired, can I open and contribute to an EPSV?

Can I make contributions after I have redeemed my EPSV?

Can the vested rights of an EPSV member be seized?

Can the consolidated rights of a member of a pension plan be transferred to another, within the same EPSV or another EPSV?

Consult documentation. Occident Previsión, Entidad de Previsión Social Voluntaria Individual

Consult documentation. Occident Previsión Renta Fija, Plan de Previsión Social Individual

Consult documentation. Occident Previsión Mixto Fijo, Plan de Previsión Social Individual

Consult documentation. Occident Previsión Mixto Variable, Plan de Previsión Social Individual

Consult documentation. Occident Previsión Renta Variable, Plan de Previsión Social Individual

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