Collective Retirement Plan - Banco Sabadell
A life savings insurance tailored to your executives and staff
A retirement plan designed to retain executives and staff
Choose the scheme that best suits your needs:
Collective Retirement Plan
- Offers extensive coverages for executives and other insured staff. In the event of retirement, disability or dependency, the insured persons and, in the event of death, the persons they designate, are the beneficiaries.
- It adapts to your needs by offering a specific group of workers specific protection for the contingencies of retirement, disability, dependency and death.
- It is intended for the workforce of a company in compliance with the commitments made by the company to its workers, embodied in a collective agreement or agreed between the company and workers equivalent to a collective bargaining agreement.
Flexible Collective Retirement Plan
- Joining the Flexible Collective Retirement Plan is voluntary on the part of the employee who, upon joining the insurance plan, decides to receive part of their salary in kind and use it to make contributions to the insurance as a form of savings, so that they optimise their remuneration fiscally and adapt it to their personal and family needs at all times.
- Offers extensive coverages for executives and other insured staff. In the event of retirement, disability or dependency, the insured persons and, in the event of death, the persons they designate, are the beneficiaries.
- It is intended for the workforce of a company in compliance with the commitments made by the company to its workers, embodied in a collective agreement or agreed between the company and workers equivalent to a collective bargaining agreement.
Different investment options available
- The Collective Retirement Plan is a unit-linked life-savings insurance policy with different investment options available, including the Life Cycle model, which invests in two asset portfolios to implement a scheme tailored to the retirement time horizon.
- The insurer assumes no interest rate risk, financial risk, credit or investment risk. The risk will be fully assumed by the beneficiary of the insurance3.
For your company and your employees
- For the employer: the employer’s tax deduction is deferred until the employee or executive collects the benefit. At that time, all premiums paid can be deducted from corporate income tax.
- For the staff4: taxation is deferred until the benefit is collected. At that time, if the contingency is due to retirement or disability, the benefit received is taxed as income from work in personal income tax (IRPF) and, in the event of death, the beneficiaries will pay inheritance and gift tax.
The advantages of the Collective Retirement Plan
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Staff retentionIt is designed so that you can meet your pension commitments to your employees, which fosters their loyalty.
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Tax savingBoth the employer and the employees have tax benefits.
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FlexibilityWith different investment options available, so you can choose the one that suits you best.
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Extensive coverageFor the insured themselves in the event of retirement, disability or dependency, and for the persons they designate in the event of death.
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Staff retentionIt is designed so that you can meet your pension commitments to your employees, which fosters their loyalty.
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Tax savingBoth the employer and the employees have tax benefits.
-
FlexibilityWith different investment options available, so you can choose the one that suits you best.
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Extensive coverageFor the insured themselves in the event of retirement, disability or dependency, and for the persons they designate in the event of death.
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Remote banking for the self-employed and businesses with Banco Sabadell
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Legal terms and conditions
1. Collective Retirement Plan and Flexible Collective Retirement Plan: a collective life-saving unit-linked insurance policy, in which the policyholder assumes the risk of the investment, from BanSabadell Vida, S.A. de Seguros y Reaseguros, subject to the terms and conditions contracted in the policy, with Tax ID number A-08371908 and with registered offices at Calle Isabel Colbrand, 22, 28050 Madrid. Registered in the Mercantile Register of Madrid and in the DGSyFP under code no. C-557.
Employment Pension Plan:
Managing entity: BanSabadell Pensiones E.G.F.P., S.A., with Tax ID No. A-58581331 and its registered offices at Calle Isabel Colbrand, 22, 28050 Madrid. Registered in the M.R. of Madrid and in the Register of Administrative Entities maintained by the DGSyFP under code G-0085.
Depositary entity: BNP Paribas, S.A., branch in Spain, with Tax ID No. W0011117-I and its registered offices at Calle Emilio Vargas, 4, Madrid. Registered in the special register of pension fund depositary entities maintained by the DGSyFP under code no. D-0197.
Marketing agent of pension plans: Banco de Sabadell, S.A., with Tax ID No. A08000143 and registered offices at Plaça de Sant Roc, núm. 20, 08201 Sabadell. Registered in the M.R. of Barcelona and in the General Directorate of Insurance and Pensions (DGSyFP) under code no. D-0016. Each company that formalises one will have the status of promoting entity of the employment pension plan.
Simplified Employment Pension Plan for the Self-Employed:
Managing entity: BanSabadell Pensiones E.G.F.P., S.A., with Tax ID No. A58581331, whose registered office is C/ Isabel Colbrand, 22, 28050 Madrid. Registered in the M.R. of Madrid and in the Register of Administrative Entities maintained by the DGSyFP under code G-0085.
Depositary entity: BNP Paribas Securities Services, S.C.A., Spain branch, with Tax ID No. W-0012958-E and its registered offices at Calle Emilio Vargas, 4, Madrid. Registered in the special register of pension fund depositary entities maintained by the DGSyFP under code no. D-0163.
Promoter entity: the entity that promotes the pension plan. For example, they may be associations, federations, confederations or unions of associations of self-employed or self-employed workers, trade unions, professional associations or mutual benefit societies.
Insurance brokered by BanSabadell Mediación, Operador de Banca-Seguros Vinculado del Grupo Banco Sabadell, S.A. (“BanSabadell Mediación”) and marketed through the network of Banco de Sabadell, S.A., an entity with which it has signed a distribution network services provision agreement. BanSabadell Mediación is domiciled at Plaça de Sant Roc, núm. 20, 08201, Sabadell, Tax ID A08000143, and is registered in the Mercantile Registry of Barcelona and in the Administrative Register of Insurance and Reinsurance Distributors of the DGSyFP with code no. OV-0004, acting for BanSabadell Vida, S.A. de Seguros y Reaseguros; BanSabadell Seguros Generales, S.A. de Seguros y Reaseguros; Sanitas, S.A. de Seguros; DKV Seguros y Reaseguros, S.A.E.; and Zurich Insurance Europe AG, Spain branch, having taken out a civil liability insurance policy in accordance with the provisions of the regulations governing the distribution of private insurance and reinsurance in effect at all times. You can view the insurance companies with which BanSabadell Mediación has signed an insurance agency contract at the website
2. So considered are the commitments arising from legal or contractual obligations of the employer to its employees, included in a collective bargaining agreement or equivalent provision, which are intended to make contributions linked to the contingencies established according to the regulations on pension plans and funds. For the implementation of these commitments, there must be an employment relationship within the scope of application of the Workers' Statute, provided that said employment relationship is subject to Spanish law and is carried out in Spain.
3. The value of the mathematical provision depends at all times on the fluctuations of the financial markets, which are beyond the insurer’s control and whose historical results are not indicative of future results, and on the ability of the counterparty to meet its obligations (credit risk), so a loss scenario may occur, with no minimum value. There is therefore a risk of total or partial loss of the investment.
4. Provided that the requirements and limits under current tax law are met.