The voluntary pension scheme is a product aimed solely and exclusively at residents of the Basque Country, which has a different tax system.
Generally speaking, contributions made by members, unit holders, policyholders or insured persons to social benefit systems are deducted from the Personal Income Tax tax base with a limit of 5,000 euros, and 8,000 euros for business contributions. The joint limit for personal and business contributions is 12,000 euros.
Contributions that have not benefited from a tax deduction as they were above the established limits, or due to an insufficient tax base, may be deducted in the following five fiscal years provided that the holder is not retired.
Spouses: if the unit holder has a spouse with an income to be included in the tax base of less than 8,000 euros, he or she may deduct the contributions made by the spouse to plans, mutual insurance companies and voluntary pension schemes in his or her tax base, by up to a maximum of 2,400 euros per year.
Disabled people— people with a physical disability of at least 65%, a mental disability of at least 33% or who are legally declared to be disabled regardless of the degree)—may deduct their contributions to the plan from the tax base up to a limit of 24,250 euros. This is a joint limit for contributions made to plans, mutual social welfare funds and assured benefits plans.
People who are related to or who are guardians of the disabled person may deduct the contributions made to disabled people from their tax base, with a maximum annual limit of 8,000 euros, notwithstanding the contributions they may make to their own Voluntary Social Welfare Entities.
Total deductions made by all persons who make contributions in favour of the same disabled person, including those of the disabled person himself, may not exceed 24,500 euros per year.