8.4.2.3. Assured savings plans
The taxable base will reduce the premiums paid to the Guaranteed Employee Pension Plans
The premiums paid to these insurance contracts will be indicated when they meet the following requirements:
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The taxpayer must be the policyholder, insured person and beneficiary. However, in the event of death, you may generate the right to benefits under the terms provided for in Legislative Royal Decree 1/2002, which approves the Revised Text of the Pension Plans and Funds Regulation Act.
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The contingencies covered must only be those provided for in Legislative Royal Decree 1/2002, and must have retirement as the main cover. art.8.6 For these purposes, the main coverage will be understood as retirement when the condition of the value of the mathematical provision is verified for retirement and dependency reached at the end of each annuity represent at least three times the sum of the premiums paid since the start of the plan for the capital of death and disability.
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Only the advance, total or partial provision will be permitted in the cases provided for in the regulations of pension plans.
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These insurance contracts must have to offer an interest guarantee and use actuarial techniques.
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It must be expressly and prominently stated in the terms and conditions of the policy that is an Insured Employee Pension Plan. The name Guaranteed Benefit Plan and its acronym are reserved for insurance contracts that meet these requirements.