Why invest in a pension plan?

Save money in plans now and rest in the future

4 reasons to purchase a plan
  • Save for your retirement: The sooner you start, the more savings you will accumulate and the calmer you will feel when your retirement approaches.
  • Tax advantages: For every €1,000 you invest in your pension plan you can save up to €450* on your tax declaration, depending on your income and what you contribute.
  • Save at your own pace: Make contributions from €6 when you want throughout the year. You can have as many plans as you like in order to diversify your investment.
  • Profitability: The profitability of the pension plan you choose depends on your investment strategy and the evolution of the markets.
What advantages are there for you in Openbank?
  • Specialists available for you: Our team of investment specialists is on hand to help you with whatever you need.
  • Without added fees: You will only pay the management and deposit fees detailed in the Document of Fundamental Data for the participant in each plan.
  • With total flexibility: You can move your money from one pension plan to another, whenever you want. It is simple and costs nothing.
  • A wide range of products: We have different pension plans in different markets and assets so that you can find the best balance between risk and return.

*To calculate this amount, we have assumed the maximum tax rate (45%). The actual fiscal saving will depend on the personal circumstances of each customer and can vary in the future.


Find the pension plan that best suits your needs.

Would you like to know more about pension plans?
What is a pension plan?
What are the tax benefits?
How much can I contribute?
How and when will you get your money back?
Who are the beneficiaries of my pension plan?
How can you invest in a pension plan?
What is a pension plan transfer?
Need more information?
How can I transfer a plan from another company to Openbank?

What is a pension plan?

It is a savings product to accumulate capital in the long term, that allows you to complement the pension that you will receive when you retire. Over time, you will recover the value of your investment and the interest that it has generated. In addition, you have a series of exceptional tax advantages.

The pension plan brings together the money contributed by a large number of investors, who are called participants, and a management company is responsible for managing it to obtain the highest possible yield by investing in a series of assets, such as shares, financial instruments, bonds, obligations, etc.

What are the tax benefits?

You will pay less tax. You can save up to 45%* of your annual contribution in your tax declaration, depending on your income and how much you invest.

The money you contribute each year will not be taxed by the tax authorities until you redeem your plan.

* Estimate considering the maximum rate of tax withholding (45%).

How much can I contribute?

Regardless of your age, you decide the frequency and amount of money that you put in - which must be between €30 and €8,000 per year, taking into account that the limit is 30% of the sum of income from work and financial activity.

In addition, you must take the following points into account:

  • If your spouse receives an income lower than €8,000 per year, you can also reduce their contributions with a maximum annual limit of €2,500.

  • If you have a physical or sensory disability equal to or greater than 65%, mental health disability greater than 33% or have been legally declared disabled, regardless of the level of disability, you will be able to contribute up to €24,250 per year.

  • If you are a family member of a person with a disability (direct line, collateral line up to third degree or spouse) and you want to make contributions in their favour, you make do so in addition to your own contributions, taking into account the annual limit of €10,000/year.

  • In the contributions for a disabled person, the first ones to be reduced will be those that the person with the disability makes, and only if they fall short of the limit will it be possible to reduce the contributions of the family members up to a combined limit of €24,250.

How and when will you get your money back?

You can redeem your pension plan when you retire. Although, you can also withdraw your money in exceptional cases, such as major disability or long-term unemployment, among others. Plus, from January 2025, you will be able to redeem contributions that are least 10 years’ old.

When you cash in your plan, you have four options:

  • In the form of capital, i.e., all at once.
  • In the form of income, through periodic payments.
  • In a mixed form - a specific amount at once and then the rest periodically.
  • In the form of sporadic payments, with total flexibility.

Who are the beneficiaries of my pension plan?

Individuals entitled to receive the money accumulated in your pension plan:

  • If you retire or have a permanent incapacity to perform your regular profession or absolute incapacity to perform any type of work, severe disability, long-term unemployment or severe dependence or require long-term care, you will be the beneficiary.

  • In the event of your death, the beneficiaries will be the persons you designated upon taking out the plan. If you decide not to designate anyone, the beneficiaries will be the lawyers.

How can you invest in a pension plan?

Our advanced Pension Plan Finder tool allows you to filter and select from between a wide range of plans, so you can find the pension plan that best suits your needs.

If you would prefer to speak to someone, call us on +34 91 177 33 16 and our team of pension professionals will be glad to help.

If you are not yet a customer, open an account by clicking here.

What is a pension plan transfer?

A transfer involves moving the money that you currently have invested in a given pension plan to another pension plan.

Need more information?

We make it simple. Call us on 91 177 33 16, and our specialist investment team will be glad to help (Mon - Fri, 8 a.m. - 1 p.m.).

How can I transfer a plan from another company to Openbank?

To switch the pension plan you have at another company to Openbank, all you have to do is:

Print this document. Fill it in, sign it and send it to us by email, 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/Product Department
Paseo de la Castellana nº 134
Madrid 28046

When we receive your application, we will contact the corresponding asset managers to start the process.

If you have any questions, send us an email to inversiones@openbank.es or call us on +34 91 177 33 16 and ask for one of our specialists.