
What's the promotion?
Get a 3% rebate when you switch your pension plan to Openbank, open a new plan, or make a contribution to your current pension. Plus, there’s no limit to how much you can get back!
How can you get your 3% rebate?
- Click on “Join the promotion”, enter the promotional code MIPLAN20 between 20 October 2020 and 16 February 2021 (both inclusive).
- Switch your Pension Plan to Openbank, make a contribution to your current plan or open a new one. You have until 28 February 2021 (inclusive) to meet the conditions.
And get a 3% rebate!
If you prefer, you can also set up recurring contributions to your pension plan and get up to 3% back on each contribution using the code PERIODICAS20.
Please note that:
- You must be an individual over the age of 18.
- The end contracts must be in the same name as the original contracts when transferring any Pension Plan.
- 3% of the total amount of new pension plans, transfers and/or contributions to a Pension Plan marketed by Openbank during the promotion period between 20/10/2020 and 28/02/2021 (both inclusive); will be credited to the associated Current Account. You will be credited from the first transfer and/or contribution made within the period.
- There is a 5-year minimum contract for Pension Plans opened during the campaign or any existing plans.
- The rebate constitutes investment income subject to a 19% withholding tax that will be applied by the Bank, which will pay the resulting amount to the customer. The customer must declare this investment income in their annual Personal Income Tax (IRPF) return under their savings tax base and deduct the corresponding amount of withholding tax.
- The level of risk and information regarding each of the Pension Plans marketed by Openbank, S.A. is detailed in the Key Investor Information Document for each of the Pension Plans, available at openbank.es/en/pension-plan-finder.
- The amount of investment in the Pension Plans, for both plans transferred during the campaign and current plans, must be maintained for 5 years from the date of the transfer, contribution or opening of the Plan marketed by Openbank. Once you have joined the promotion and met the requirements, you will then be able to carry out internal transfers between plans marketed by Openbank.
- Banco Santander pension plans are not eligible for this promotion.
- Regular contributions that generate rebates under the PENSION PLANS - 3% REGULAR CONTRIBUTIONS campaign made during the promotion period are excluded from this promotion, until 28 February 2021. See promotional terms and conditions here.
Products related to this promotion
Start planning today for your future peace of mind. From €6 and with no additional fees.
With no additional fees
No transfer fee.
No custodian fee.
Fees charged by the asset manager of the plan apply.
More than 35 plans to choose from
Set up automatic contributions and relax
Increase your pension plan bit by bit with automatic contributions. All you need to do is choose how much and how often you want to contribute.
All investments carry some level of risk, including the lack of return and/or loss of principal invested.
The level of risk and the information for each of the Pension Funds marketed by Open Bank, S.A. is detailed in the Prospectus or Key Investor Information Document (DFI) for each one of the Pension Finds, available at www.openbank.es
Find the pension plan that best meets your needs.
These are the most searched plans among investors at Openbank

Asset and sub-asset class
Global Equity
Return in 2020
10.21%
Minimum initial investment
€6.01

Asset and sub-asset class
Sector Equity
Return in 2020
28.04%
Minimum initial investment
€30.05

Asset and sub-asset class
European Government Bonds
Return in 2020
1.51%
Minimum initial investment
€30

Do you want to bring your pension plan to Openbank? Our team of AFI-certified investment specialists with vast experience are always on hand to help. Call: (+34) 91 177 33 16
Want to know more about Pension Plans?
How can I transfer my Pension Plan to Openbank?
To switch the pension plan you have in another bank to Openbank, all you have to do is:
Print this document. Fill it in, sign it and send it to us by e-mail, together with the last statement of the plan, to inversiones@openbank.es. Or, if you prefer, you can send it back to us by ordinary post to the following address (you don't need to buy a stamp, we provide you with a free postage label along with the plan transfer application document. You just have to print it, cut it out and stick it to an envelope):
Openbank
Operations/Products Department.
Paseo de la Castellana nº 134
Madrid 28046
When we receive your application, we will contact the corresponding managers to start the switchover.
If you have any questions, email us at inversiones@openbank.es or call us on (+34) 91 177 33 16 and ask to speak to one of our specialists.
What is a pension plan?
It is a savings product to accumulate capital in the long term, which allows you to complement the pension you will receive when you retire.
A pension plan pools the money contributed by a large number of investors (participants), and an asset management firm is responsible for managing it in order to obtain the best possible return by investing in a series of assets, such as shares, bills, bonds, debentures, etc.
The DDFP (Key Participant Information Document) for the different pension plans that we market can be consulted on the main page for each one of the plans at www.openbank.es
What are the tax benefits of pension plans?
As of 1 January 2020, the maximum reduction in Personal Income Tax (IRPF) for investments in pension plans is €2,000. For example, with an annual contribution of €2,000 to your pension plan, taking into account a marginal tax rate of 24% in the Personal Income Tax (IRPF), you could save up to €480 in your tax return.
Take advantage of this tax benefit and find the pension plan that meets your needs here – there are over 35 to choose from. With Openbank, you won’t be required to pay any additional fees other than those charged for the plan itself. Plus, for your convenience, you can set up regular contributions.
For further information, read this article on our blog.
How much can I contribute?
You decide the quantity and frequency of your contributions, which could be from €6.
When and how will you recover your money?
You can redeem your pension plan when you retire and in exceptional cases such as severe disability, serious illness or long-term unemployment, among others. In addition, from 2025 onwards, you can request the redemption of shares with a minimum seniority of 10 years.
On cashing it in, you have four options:
-
In the form of capital, i.e., a lump sum all at once.
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In the form of periodic payments.
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In a mixed form, i.e., a one-off payment and the rest periodically.
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In the form of one-off payments, with total flexibility.
How can you take out a pension plan?
Our pension plan finder allows you to choose from a wide range of plans. You can access the pension plan that best suits your needs and take it out by clicking on the sign up button.
If you prefer a more personalised service, call us on (+34) 91 177 33 16 and our team of pension plan professionals will help you with whatever you need.
If you are not yet a customer, become one here.
What is a Pension Plan transfer?
A transfer involves moving the money that you currently have invested in a pension plan to a different pension plan.
Do you need more information?
We make it simple. Call us on (+34) 91 177 33 16 and our team of pension plan professionals will be glad to help with whatever you need.