The maximum contribution limit with the right to reduction based on participant's contributions to individual or employment plans is 2,000 euros per year and the reduction may not exceed 30% of the net income from work and economic activities. This limit may be increased to 8,000 euros per year for business contributions, in which case the joint reduction limit (unit holder and company) would be 10,000 euros per year.
The contributions that individual employers make to employment pension plans or mutual pension funds, of which they are in turn the promoter and participant or policyholder, as well as those made to business social welfare plans or collective long-term care insurance schemes of which they are in turn policy holders and insured parties, will be treated as business contributions for the purposes of these limits.
In Navarra, the limit for individual annual contributions is €2,000 or 30% of net income for people up to 50 years of age and €5,000 or 50% of net income for people over 50 years of age, and employer contributions have their own independent limit of €5,000 per year. In the Basque Country, individual contributions have a limit of €5,000, employer contributions of €8,000 and a joint limit of €12,000.
These limits are shared with other pension schemes, such as mutual pension societies, insured pension plans or employer pension plans.