The Spanish Pension Model is based on three pillars:
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Did you know thah in Spain:
It is essential to have complementary savings. New generations are affecteb by reductions in their future pensions. Therefore, it is necessary to start investing in a regular savings plan as soon as possible.
We offer you many possibilities to plan you retirement efficiently. The need for a complementary saving plan is prioritay today. Therfore, we provide you with different saving products: SISP (Systematic Individual Savings Plan), Unit Linked, ASIP (Assured Savings Insurance Plan), Pension Plans, etc. They all will be used to accumulate a capital for the future.
The latest Pension Reform, and the new Tax Reform -which directly affects Pension Plans- have changed the context of the need to have a Pension Plan.
We can affirm that future pensions will be lower. Consequently, it will be necessary to have a complementary accumulated capital to enjoy a well-deserved retirement.
The new Personal Income Tax Law allows Pension Plans to return to be the best vehicle to channe the savings for retirement.
10 arguments to take out Pension Plan
GVC Gaesco Pension Plans
GVC Gaesco Pensiones allows you to channel the savings for your retirement. Our professionalism and experience in managing pension plans constitute our strengths.
Third Party Pension Plans
We provide you with the best investment alternatives from Third Party Fund Managers.
Assured Savings Insurance Plan (ASIP)
ASIP were launched in early 2003. Since its creation, they are configured as Individual Insurance for long-term savings. They have the same financial and fiscal regime than Individual Pension Plans.
ASIP were created to be a complement to Social Security Pension at retirement. They are Life Insurances designed to generate savings in order to maintain the purchasing power at retirement. They also guaranteed a sum in the event of death or total and permanent disability.
In addition to death and total and permanent disability benefits, it is possible to take out additional coverage: double compensation in the event of death by an accident, and triple in case of a traffic accident.
Systematic Individual Savings Plan (SISP)
This is an individual Life Insurance with minimum 5 year period which allows you to accumulate capital for the future and obtain major advantatges. This product fosters long term savings. It will be used as a Public Pension supplement at retirement.
SISP is configured as a signed contract bewteen Insurances Companies to consitutite an annuity, that is, a fixed monthy income based on the accumulated capital.
The main advantatge of this product is the fact that you can access your money whenever you wish, from the first day, in part or in full and with no fee or expense for availability.
The investor profile determines the kind of SISP:
Two different coverages:
Unit Linked are Life-Savings Insurances in which the policyholder assumes the risk associated to the investment. Unit Linked also guarantee a coverage in the event of death. A Unit Linked Insurance Plan acts just like a savings vehicle, but also has the benefits of an insurance contract. When an investor purchases units in a ULIP, he or she is purchasing units along with a larger number of investors, just like an investor would purchase units in a mutual fund.
Unit linked Insurance Plans allow for the coverage of an insurance policy, and provide the option to invest in any number of qualified investments, such as stock, bonds or mutual funds. The policyholder distributes the premium among all investment alternatives. When this premium becomes accumulated savings, the policyholder will have the option to change and invest in other investment alternatives inside the product.
These assets are grouped into baskets, with a maximum of ten in each insurance. Baskets have different profiles.
Unit Linked are underpinned by Life Insurances which are provided with an amount of capital in the event of death. They can be Whole Life Insurances or Mixed Life Insurances.