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.
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.