Occident and the Association of Certified Insurance Brokers of Valencia sign an agreement to promote Simplified Employee Pension Plans

"With the support of AEMES, both companies have reunited to launch a new product aimed at promoting retirement planning among insurance brokers, members, and self-employed professionals."

Occidente and the Association of Insurance Mediators of Valencia, with the backing of AEMES (Employer's association of the Insurance Brokers sector), have signed a collaboration agreement to create a Simplified Employment Pension Plan (PPES) that promotes retirement plans for Insurance brokers, Association members and self-employed professionals.

Present at the signing of the agreement at the new Occident offices in Madrid, were Daniel Ciprés, the Director of Life Insurance at Occident, and Jorge Benítez, Chairman of AEMES and the Professional Association of Insurance Mediators of Valencia. At the meeting, Ciprés emphasized "Occident's firm commitment to the network of professional insurance brokers" and highlighted that this dedication to insurance brokerage "has driven the development of a particularly appealing pension plan product for this group, as well as for self-employed individuals."

Benítez expressed pride in "forming alliances with insurance companies like Occident, which demonstrate their commitment to mediators through initiatives aimed at supporting their work and well-being." He added that "this initiative is also aligned with AEMES's mission to support mediators in both their business and professional endeavours."

Tax benefits and retirement savings

The recently launched PPES, Occident Pensiones Autónomos, is designed for investors with a moderate profile who wish to reap tax benefits and build up capital with a view to retirement, thereby ensuring a comfortable standard of living when they stop working. This retirement savings instrument also features the flexibility to provide financial back-up against unforeseen events such as permanent occupational disability, permanent absolute disability, severe incapacity, dependency and death. Plus by allowing regular contributions coupled with extraordinary contributions up to the specified annual limit, Occident Self-Employed Pensions additionally provides utmost flexibility when paying into the scheme. The product likewise allows participants to withdraw their cash ten years after taking it out in the event of serious illness or long-term unemployment.

One of the main advantages of a PPES is its taxation as it enables the customer to make contributions of up to €5,750 per year, an amount which can be deducted from general taxable income in their personal income tax return. The annual ceiling for contributions to a simplified occupational pension plan is €4,250 on top of the €1,500 which can be paid into a personal pension plan.