Seguros Bilbao launches its pension plan campaign giving a bonus of up to 3% for transfers

Seguros Bilbao has kicked off its new pension plan campaign with the goal of rewarding customers who are saving for their retirement. The insurance company is offering a remuneration of up to 3% for transfers made to its retirement savings products between now and 31 December 2019.

Customers looking to obtain this extra return on their savings will need to make transfers or contributions worth at least 2,500 euros to a pension plan, an EPSV plan or an assured pension plan marketed by Seguros Bilbao.

Fulfilling these two conditions, customers will receive in the next 5 years 0.40% of the amount transferred, to which an additional 0.2% could be added if the participant adds to the plan an annual premium of over 1,200 euros. All the conditions for the campaign are available at www.segurosbilbao.com

Advantages of pension plans

Pension plans are an investment and savings product for retirement that offer certain tax benefits in the years in which contributions are made. Specifically, contributions made to a pension plan reduce the taxable base in the individual's annual tax return, thereby offering tax relief during their working life.

Another benefit of taking out a pension plan is their flexibility. Contributions to pension plans are voluntary and there is no minimum amount. Accordingly, each participant can choose when and how much they contribute according to their needs, making it possible to plan how much and in what way to save for retirement over the course of many years.