Retirement provision for your staff

How it works

• The company pays in for each employee by name, deciding the amount and how often
• Allianz guarantees 100 % of the contributions set aside for retirement
• Taxed exactly like a pension plan
• A 10 % corporation tax deduction on contributions for employees earning under €27,000 a year
• Works for an obligation set by the convenio and for a voluntary plan alike
• Paid out at retirement, on top of the Seguridad Social pension

These are Allianz's figures for this product. How much goes in, how it is allocated and what happens in each case are set out in the group policy; you get all of it in writing before you sign anything.

Good to know

• Three things sound alike and are not the same: the PPSE is an insurance policy, the plan de pensiones de empleo is a pension plan, and savings for employees is something else again. The PPSE and the plan de pensiones de empleo are taxed the same way, but they are not the same contract. Tell us what you want to achieve and we will tell you which one fits.
• What an employee pays in themselves reduces their IRPF taxable base by up to €1,500 a year. Company contributions can extend that limit by up to €8,500 more. The exact figures for the current tax year, and how they apply in your case, are for your gestor to confirm; we give them the documents they need.
• This money is not a savings account. The cases in which it can be drawn before retirement are set by law, not by the company. We show you those cases in writing before you sign.
• What happens to the accumulated amount when an employee leaves the company is set out in the policy. Ask us before you sign; it is the part most often forgotten.
• If your convenio colectivo obliges the company to contribute, interpreting the convenio is your gestor's job, not ours. You tell us what has to be covered and we build it.
• Down here in the south, many businesses find that the problem is not hiring people but keeping them. A retirement contribution is an argument nobody matches from one month to the next.
• For a quote we only need the number of employees, their years of birth and how much you want to pay in each year. Names come later.
• Joiners and leavers are reported during the year. There is no need to wait for the renewal.
• We advise with MiFID II qualification, in English, Spanish or German, at the office in Adeje.
• Allianz also has group policies for life, health, accidents, savings and travel. If more than one is of interest, we can cover them in a single meeting.