Pension plans

Individual pension plan

Name: Individual pension plan
Brand: Occident

The main menu is now hidden, navigation available in the fixed menu anchor.

What makes our Individual pension plan different

Individual pension plans are a form of long-term private savings, designed to supplement income from the public pension service during retirement. They are designed to cover your financial needs when you stop working. Occident's individual pension plans are intended to make it as easy as possible for you to plan how and when to supplement your retirement pension.

Flexibility

Decide how much you want to save in a year and make your contributions regularly or occasionally.

Freedom to suspend and resume payments

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

Transfer of rights

You can transfer accrued rights from other pension and provident plans to Occident.

Freedom of drawdown

You choose how to retrieve the capital: in the form of income, full or partial redemption, or a combination of both formulas.

Tax relief

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

Performance

Your plans will be managed by experts in financial asset management, striving for the highest returns with the lowest risk.

Performance of these pension plans

Performance

The return of each pension plan will vary according to the returns of the assets in which the plan is invested. Depending on the pension plan's investment policy, it will be invested in fixed income, variable income, or a combination of these.

With the contributions made by the customer to his or her pension plan, the advisors make regular investments geared to achieving maximum returns. These investments will depend on the pension plan chosen.

Performance

Net asset value

Categories of individual pension plans by income type

100% of your investment is made 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.

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

FAQs

You can decide at any time the frequency and amount of your contributions, provided that they do not exceed the maximum amount laid down by law.

You can withdraw the accumulated value in the following cases:

When you retire.
In the event of permanent disability.
In cases of severe dependency or major dependency.
In the event of the death of the insured party: the beneficiaries designated by them will have the right to receive the guaranteed amount plus an additional sum for death.
Long-term unemployment
Serious illness.
Liquidity: you can withdraw the accumulated value corresponding to premiums paid more than 10 years ago.

People with a degree of physical or sensory disability —of at least 65%— or mental disability —equal to or greater than 33%— can benefit from additional advantages when taking out a pension plan. Thus, the policyholder himself or herself or his or her relatives (up to and including the third degree) will be able to pay premiums for this insurance without these exceeding the maximum amount established by law.

Furthermore, the policyholder will be able to receive the retirement benefit from the age of 45 onwards, provided that he/she is not in employment.

In order to be classified as long-term unemployed at the time of applying, a worker under the general scheme must be registered as a jobseeker at the corresponding public office and have exhausted contributory unemployment benefits.

In the case of self-employed workers, in order to meet the requirement of long-term unemployment, they must be previously registered in the Social Security self-employed scheme and have ceased their activity. They must also be registered at the time of application as jobseekers with the corresponding public employment service and not be entitled to unemployment benefits on the contributory level, or have exhausted such benefits.

Regardless of the decision issued by the Social Security, you can continue to make contributions until you start receiving your retirement benefit from the pension plan. If you make contributions once you have begun to receive your pension, they will always be made in the event of death or dependency. Furthermore, you can continue to benefit from the reduction in the general IRPF taxable base.

Regardless of who the recipient of the contingency giving rise to the payments is or how the plan is paid out, all benefits provided by a pension plan are deemed to be earned income.

If the benefit of a pension plan is received by a person other than the participant as a result of the death of the latter, the tax applied is also personal income tax as earned income and is exempt from inheritance and gift tax.

Occident's pension funds take into account extra-financial criteria in order to control, measure and manage risks in the investment decisions of the investment portfolio. Accordingly, socially responsible investment criteria are included in the investment policy of the funds.

FAQs

Individual pension plan

What makes our Individual pension plan different

Flexibility

Freedom to suspend and resume payments

Transfer of rights

Freedom of drawdown

Tax relief

Performance

Performance of these pension plans

Performance

Performance

Performance

Net asset value

Categories of individual pension plans by income type

Occident Pensiones Renta Fija

Occident Pensiones Mixto Fijo

Occident Pensiones Mixto Variable

Occident Pensiones Renta Variable

Cat Previsió

FAQs

What contributions can I make to my pension plan?

When can I withdraw my savings and redeem the pension plan?

What additional benefits are offered to people with disabilities?

What is considered long-term unemployment to grant the liquidity of the consolidated rights?

Can I contribute to a pension plan if I am no longer in active employment?

Taxation of pension plan benefits

What are SRI (Socially Responsible Investment) policies in pension plans?

Consult documentation. Occident Pensiones Renta Fija

Consult documentation. Occident Pensiones Mixto Fijo

Consult documentation. Occident Pensiones Mixto Variable

Consult documentation. Occident Pensiones Renta Variable

Consult documentation. Cat Previsió

Maybe you were looking for...

PPA Savings

EPSV

Follow us on social media

Download the app

News and advice

Professionals