Starting January 1, 2025 It will be possible to rescue a pension plan without having to wait for retirement, being long-term unemployed or suffering from disability.. With the modification of the Regulation of Pension Plans and Funds carried out in 2018, the only requirement to recover, both the contributions and the returns they have generated, it will be that they have passed more than 10 years since the contributions were made. As Gonzalo Bernardos already warned, this will mean an outlay of a lot of money.
Now clients will be able to redeem the plan with complete freedom and without having to justify themselves to the bank. All they have to do is go to their bank, insurer or plan manager and request reimbursement of the capital. Yes indeed, Amounts that do not carry the minimum period of 10 years must remain in the plan.
Furthermore, it is worth remembering that, even if the reimbursement of the capital contributed with an antiquity of more than 10 years is requested, clients You can continue making contributions to your pension plan for the contingencies of retirement, disability, death, or any other reason.
By complying with this requirement, during 2025 you can only request reimbursement of contributions that were made before 2015, plus any revaluation that said plan may have had. To calculate this revaluation, we will have to take the number of shares that were in the fund at that same moment and calculate their purchase price and current value.
How to rescue the pension plan after 10 years
Once the capital of the pension plan has been claimed, There are three ways to execute the rescue. There is the form of rentwhich involves charging an amount with the frequency that is chosen, in mixed formwhich involves collecting a part of the capital and receiving the rest in the form of income, or take it all out at once.
It must be taken into account that the capital rescued from the pension plan is also taxed, so it is recommended to weigh whether it really is an advantage to withdraw the money early and, apart from being taxed on a probably higher personal income tax, not having the profits. What it would mean to keep that money invested.