Skip to contents

Systematic Individual Savings Plan (PIAS)

We have found your better half.

Arrange a PIAS to supplement your retirement because:

  • With a systematic individual savings plan you receive immediate liquidity with no fees.
  • With a systematic individual savings plan you get taxation benefits.
  • With a systematic individual savings plan you get life insurance.

Arrange a PIAS
Promoción Plan individual de ahorro sistemático

What is a PIAS?1

PIAS (Individual Systematic Savings Plans) are long-term life-savings insurance plans intended to complement the state pension through the collection of an income when retirement age is reached.

Our Dynamic Management PIAS is a long-term saving alternative through investment funds combined with life insurance to which amounts of money are contributed on a regular basis and which can be received in the form of capital or an annuity at the end of the plan. And if you choose the life annuity you will not pay tax on the returns.

PIAS Dynamic Management: A unit linked life-savings insurance policy. This product may entail losses on the capital invested. because it is the policyholder who assumes the risk of the investment.

More services, more advantages

 
5% the first year.
2% the second year.

Regular Contributions Promotion

We reward your perseverance

Now you can get a bonus if you set up regular contributions to your individual systematic savings plan (PIAS) from as little as €50 per month.

  • If you already have a PIAS but haven't set up regular contributions, just go to your private area and choose the contribution amount and frequency.
  • Promotion valid until - or until the first 15,000 contributions have been set up. The maximum bonus-bearing balance is €1,0005.
Set up contributions Discover promotion
Carteras y modalidades de inversión

YOU CHOOSE WHERE AND HOW TO INVEST

See the range of portfolios and investment funds available. You can change them whenever you want, free of charge and without any tax implications.

INVESTMENT TYPES (54.3 KB)

Do you have any questions about PIAS?

Find out the answers to all your questions about PIAS: what they are, the benefits, etc.

What is a PIAS (Systematic Individual Savings Plan)? See What is a PIAS (Systematic Individual Savings Plan)?

What are the benefits of a PIAS? See What are the benefits of a PIAS?

See Terms and conditions Terms and conditions

Age

You can contract an Individual Systematic Savings Plan (PIAS) if you are of legal age.

Amount

The initial minimum premium is €2,000, with subsequent minimum premiums of €50.

Liquidity

You can perform a full or partial redemption without any type of penalty 15 days after the insurance comes into effect. If you want to perform a partial redemption, you must keep a minimum of €600 in your PIAS.

Ownership of the insurance

To access the tax benefits offered by PIAS, the policyholder, insured person and beneficiary of the income must be the same person.

Beneficiaries

As this is an insurance policy, you can designate the person or persons who are the beneficiaries in case of death. If you do not do this, the beneficiaries will be your legal heirs.

Taxation

You have to consider two periods when assessing the taxation of a PIAS: the savings or capitalisation period, and the period when you receive the benefit.

During the savings or capitalisation period:

the premiums paid are not deductible but the accumulated returns are not taxable. Neither do any redistributions amongst the baskets or forms of investment that you might make during the life of your plan have any fiscal impact.

When you receive your benefits:

one of the features of PIAS is that you can receive your benefits in two ways.

  1. Setting up an annuity

    You can choose this option if: the annual contributions do not exceed €8,000; the accumulated amount does not exceed €240,000; more than five years have passed since the first contribution; and the beneficiary of the insurance is the policyholder and the insured person. In this case, the returns generated by your PIAS have no tax impact. In addition, the income you receive will be treated as capital gains, and the rate at which this is taxed in income tax depends on the age of the insured when they arranged the PIAS:

    • Under 40: 40% of payments received are subject to tax
    • Between 40 and 49: 35% of payments received are subject to tax
    • Between 50 and 59: 28% of payments received are subject to tax
    • Between 60 and 65: 24% of payments received are subject to tax
    • Between 66 and 69: 20% of payments received are subject to tax
    • Over 70: 8% of payments received are subject to tax

  2. If an annuity is not set up

    In this case, the income generated is not tax exempt, and is taxed as capital gains for personal income tax purposes (IRPF), with the corresponding withholdings.

Tax in the event of death

In the event of death of the insured person, in addition to the general deductions for kinship, the PIAS offers an additional deduction of €9,159.48 for each beneficiary who is a spouse, ascendant or descendant.

Fees

PIASs have an annual fee of 0.10%, which is deducted monthly from the accumulated fund.

IMPORTANT INFORMATION

  • Yearly report

Bankinter listens

We are here to answer your questions and banking queries, provide technical support, etc.
Further information
900 816 833
ATMs and branches

You decide when. You decide how.

Purchase