Transitory rules: Reductions applicable to benefits received in the form of capital derived from private social security systems

	Benefits	Reductions	Time limits
On collective insurance contracts that implement company pension commitments	Benefits received in the form of capital derived from contingencies occurring after January 1, 2014 from insurance policies contracted before January 20, 2006. This tax reduction regime applies to benefits received in the form of capital in the same tax period and will only be applicable to the part of the benefit corresponding to the premiums paid up to December 31 , as well as the ordinary premiums provided for in the original policy paid after this date.	Business contributions not attributed to workers The reduction is applied to the benefit received.	Reduction of 40% in the following cases: Disability benefits. Benefits corresponding to premiums paid more than two years prior to the date on which they are received.	The transitional regime will be applicable, where appropriate, to benefits received in the year in which the corresponding contingency occurs, or in the two following years. If the benefit in the form of capital is received after these periods have ended, the taxpayer will not be able to apply any reduction for this concept.
Business contributions attributed to workers The reduction applies to: (+) Benefit received (–) Business contributions imputed to the worker (–) Contributions, if any, made by the worker himself	Reduction of 75% in the following cases: Returns corresponding to premiums with more than five years in advance. Benefits for permanent absolute disability or severe disability.
Reduction of 40% in the following cases: Returns corresponding to premiums with more than two years in advance. Remaining disability benefits.
On pension plans, social welfare mutual funds and insured pension plans	Benefits received in the form of capital arising from contingencies occurring after January 1, 2014. The reduction may only be granted to amounts received in the form of capital in the same tax period for the part corresponding to contributions made up to December 31 2006. The reduction refers to the benefits received in relation to the same contingency. In the event of receiving benefits in the form of capital derived from a pension plan and from a social welfare mutual fund for the same contingency, the application of the reduction will refer to the benefit from the pension plan and from the social welfare mutual fund independently.	Reduction of 40% when the following circumstances occur: When more than two years have passed since the first contribution. When they correspond to disability benefits, regardless of the period of time elapsed since the first contribution.	The transitional regime will be applicable, where appropriate, to benefits received in the year in which the corresponding contingency occurs, or in the two following years. If the benefit in the form of capital is received after these periods have ended, the taxpayer will not be able to apply any reduction for this concept.
50% reduction for: Benefits received in the form of capital by persons with disabilities from social security systems established in their favour, provided that more than two years have passed since the first contribution.

Benefits

Reductions

Time limits

On collective insurance contracts that implement company pension commitments

Benefits received in the form of capital derived from contingencies occurring after January 1, 2014 from insurance policies contracted before January 20, 2006.

This tax reduction regime applies to benefits received in the form of capital in the same tax period and will only be applicable to the part of the benefit corresponding to the premiums paid up to December 31 , as well as the ordinary premiums provided for in the original policy paid after this date.

Business contributions not attributed to workers

The reduction is applied to the benefit received.

Reduction of 40% in the following cases:

Disability benefits.

Benefits corresponding to premiums paid more than two years prior to the date on which they are received.

The transitional regime will be applicable, where appropriate, to benefits received in the year in which the corresponding contingency occurs, or in the two following years.

If the benefit in the form of capital is received after these periods have ended, the taxpayer will not be able to apply any reduction for this concept.

Business contributions attributed to workers

The reduction applies to:

(+) Benefit received

(–) Business contributions imputed to the worker

(–) Contributions, if any, made by the worker himself

Reduction of 75% in the following cases:

Returns corresponding to premiums with more than five years in advance.
Benefits for permanent absolute disability or severe disability.

Reduction of 40% in the following cases:

Returns corresponding to premiums with more than two years in advance.
Remaining disability benefits.

On pension plans, social welfare mutual funds and insured pension plans

Benefits received in the form of capital arising from contingencies occurring after January 1, 2014.

The reduction may only be granted to amounts received in the form of capital in the same tax period for the part corresponding to contributions made up to December 31 2006.

The reduction refers to the benefits received in relation to the same contingency.

In the event of receiving benefits in the form of capital derived from a pension plan and from a social welfare mutual fund for the same contingency, the application of the reduction will refer to the benefit from the pension plan and from the social welfare mutual fund independently.

Reduction of 40% when the following circumstances occur:

When more than two years have passed since the first contribution.
When they correspond to disability benefits, regardless of the period of time elapsed since the first contribution.

The transitional regime will be applicable, where appropriate, to benefits received in the year in which the corresponding contingency occurs, or in the two following years.

If the benefit in the form of capital is received after these periods have ended, the taxpayer will not be able to apply any reduction for this concept.

50% reduction for:

Benefits received in the form of capital by persons with disabilities from social security systems established in their favour, provided that more than two years have passed since the first contribution.