PIAS
The Individual Systematic Savings Plan, also known as PIAS, is a financial instrument aimed at accumulating long-term savings through periodic and/or extraordinary contributions, providing complementary income for retirement.
It is contracted through a life-savings insurance policy, whereby, in the event of the insured's death, the beneficiaries will receive the capitalized contributions up to the date of death and an additional capital sum.
The money can be withdrawn at any time, and this instrument is tax exempt on all income generated, provided that the applicable legal requirements are met.
Coverage
The characteristics of the Individual Systematic Savings Plans are as follows:
- Maximum annual contribution limit 8,000€.
- It has liquidity in case it needs to be redeemed after the first annuity has elapsed
- Tax exemption on income, if after 5 years from the date of contracting, we collect the PIAS in the form of an annuity.
- It can be transferred, like pension plans, from one PIAS to another, without having to redeem it or pay taxes.
- You can only have one
To be taken into account
Different risk profiles are available, from guaranteed to different investment categories, depending on the client's profile.
- Guaranteed: Both the contributed capital and the profitability are guaranteed.
- Not guaranteed: The client chooses, according to his risk profile, in which assets he wants to invest and the risk he can assume, from delegated investment baskets, specific investment funds, stock market indexes, shares, etc. The capital provided is not guaranteed, but you can access higher returns than those of the current market rates.
As it is a life insurance policy, specific beneficiaries can be designated and, as it is outside the estate, it can be settled before the inheritance process is completed, and in many cases, the expenses of said process can be met with the collection of the policy.
Information request form
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