{"id":14459,"date":"2019-08-19T09:28:52","date_gmt":"2019-08-19T07:28:52","guid":{"rendered":"https:\/\/pibgroupiberia.com\/?p=31197"},"modified":"2025-06-02T12:54:04","modified_gmt":"2025-06-02T10:54:04","slug":"pension-plan-comparison-savings-plan","status":"publish","type":"post","link":"https:\/\/pibgroupiberia.com\/en\/comparativa-plan-pensiones-plan-ahorro\/","title":{"rendered":"Pension Plan Vs Savings Plan"},"content":{"rendered":"

With more than 83 years, Spain is the third country in the world with the longest life expectancy. It is only surpassed by Japan and Switzerland. In this context, coupled with the uncertainty surrounding pensions, more and more people are considering to have supplementary savings for their retirement or for any unforeseen eventuality<\/strong>.<\/p>\n

\"pension<\/p>\n

Among the most popular and in-demand plans are those of Pensions<\/strong> (specially designed for this purpose) and those of Savings<\/strong> (which can also be interesting). But which of the two is better?<\/p>\n

The best way to find out is to comparing the advantages and disadvantages<\/strong> of these two products. As with everything else, it will depend on your particular case.<\/p>\n

In a first analysis, a savings plan is usually more attractive because of the possibility of having the money much more available and the Pension Plans because of their tax advantages (reduction of the taxable base of the income tax return). But is this the most interesting in your case? We take a closer look at which is better in each case: Pension plan or savings plan?<\/strong><\/p>\n

What to consider in the Savings Plan<\/h2>\n

They provide much greater liquidity of capital, guarantee a return (for many products) and their costs are usually more moderate. But to what extent are they advantageous for a peaceful retirement? These are the most important points to bear in mind before taking one out:<\/p>\n

Compare all options<\/h3>\n

Make a good comparison of the guaranteed interest offered by banks. Of course, you don't have to limit yourself to the options offered by your bank, investigate what insurers offer.<\/p>\n

And compare not the technical interest, but the net interest, net of costs.<\/p>\n

Choice of investment<\/h3>\n

If you are financially literate, it is interesting to know that you can make investment decisions. In other words, instead of opting for guaranteed products, you can opt for a fund-linked product.<\/p>\n

This requires more time, but also has advantages if well managed.<\/p>\n

Study other savings plans (SIALP and PIAS)<\/h3>\n

But, beyond the conventional savings plans or deposits offered by banks, there are others savings and pension products<\/strong> which can be taken out through the insurance companies: SIALP and PIAS.<\/p>\n

The Individual Long-term Savings Insurance (SIALP) <\/strong>are a service offered in this case by insurance companies.<\/p>\n

They are called Savings Plans 5<\/strong> because if the investment is maintained for 5 years, tax exemption can be obtained for contributions that do not exceed 5,000 euros per year, by redeeming it all at once. It was created in 2015 and has the advantage that insurance companies must guarantee by law 85% of the capital contributed.<\/p>\n

If you would like more information about contracting a SIALP plan, PIB Group Iberia will explain all the options.<\/p>\n

The second option is the Individual Systematic Savings Plan<\/a> (PIAS)<\/strong>. During the contribution, there are no tax advantages, but there are tax advantages at the time of the benefit, if you redeem it in the form of a life annuity. When it is constituted, you will not have to pay tax on the entire benefit generated. That is to say, it generates an important tax advantage when it is surrendered (at least 5 years after it is taken out).<\/p>\n

What to consider in the Pension Plan<\/h2>\n

This plan is specifically designed for long-term savings. But what tends to make it a popular choice over the conventional savings plan is that you will find fiscally incentivised<\/strong>.<\/p>\n

In fact, it is the only savings product whose contribution is tax deductible in the Personal Income Tax Base.<\/strong>, 8,000 per year (REVISION January 2021: contribution limited to \u20ac2,000 per year in individual pension plans).<\/p>\n

In addition to this advantage, they often provide good returns, the level of risk can be chosen and fees tend to be lower and lower.<\/p>\n

Because of these benefits, pension plans are usually the first option that comes to mind to complement our public retirement pension. However, at PIB Group Iberia we always warn that the Pension Plan is not a product for everyone and we offer the possibility of compare it with the other alternatives<\/strong> and other savings products.<\/p>\n

Do you want more information on which option is best for you?<\/strong> Do not hesitate to contact our team. We will study these possibilities, as well as the products offered by the main companies.<\/p>","protected":false},"excerpt":{"rendered":"

We help you compare which is more interesting: a Pension Plan or a Savings Plan. Which is better? Options for your retirement<\/p>","protected":false},"author":14,"featured_media":14460,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[16],"tags":[190,156,202],"class_list":["post-14459","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-particulares","tag-pias","tag-plan-de-pensiones","tag-sialp"],"yasr_visitor_votes":{"stars_attributes":{"read_only":false,"span_bottom":false},"number_of_votes":0,"sum_votes":0},"_links":{"self":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts\/14459","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/comments?post=14459"}],"version-history":[{"count":0,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts\/14459\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/media\/14460"}],"wp:attachment":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/media?parent=14459"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/categories?post=14459"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/tags?post=14459"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}