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Occupational pension plan – Bankinter Empresas II

Today's benefits, tomorrow's peace of mind.

Occupational pension plans allow you to offer a work supplement to your employees in the form of a contribution to a pension plan. A company perk for the future with tax benefits from day one that can be offered by any small or medium-sized company that meets these requirements:

  • Companies with fewer than 250 workers.
  • Have an annual business volume ≤ €50M or a balance sheet ≤ €43M.
  • Sole-traders and individual entrepreneurs with dependent employees.
Plan pensiones empleo

Improve the working relationship with employees

Because contributions to pension plans are perhaps the company benefit most valued by workers. In the case of occupational pension plans, the benefit extends to the entire workforce, since all employees must necessarily be included.

With tax benefits for your company

Employer contributions to the employment pension plan are tax deductible from corporate income tax and are also exempt from withholding in personal income tax.

Our plan for your company: Bankinter Empresas II Plan

The Bankinter Empresas II Plan is a joint promotion plan that is attached to the Bankinter Empresas II Pension Fund, a pension fund set up with the aim of offering a pension scheme service.


The contributions are defined when the company adheres to the plan, defining the contribution amount and frequency in each case, which is mandatory for the company, and agreeing with the employees the possibility of making mandatory or voluntary contributions.


The fund investment policy is of mixed fixed income, investing a maximum of 30% in equities (mainly European) and between 10% and 90% in fixed income and money market assets.


Behind the fund's investment decisions is Bankinter Asset Management. Our management company has more than 35 years of experience and commitment in investment management.

We're here to help you,

through your local branch and our specialised channels.

Insurance experts line: 91 807 09 84

Monday to Friday from 08:00 to 17:00.

Insurance mailbox

We'll study your needs and an insurance expert will advise you on the best policy and how to take it out.

See Taxes Taxes

For the company

Contributions are exempt from personal income tax withholding and are tax deductible for corporation tax.

For employees

The contributions received from the promoter (from the company) have a neutral effect on the personal income tax base, since they are taxed as work-related income not subject to withholding, thus increasing the personal income tax base, but the contributions in turn reduce the income tax base by the same amount.

The employee's own contributions to the plan reduce their personal income tax base.

Contribution limits

The general contribution limit for pension plans and other social benefit schemes1 is €1,500 per year. In addition to the above, the tax reduction limit will be either the above limit or 30% of net earnings from work and economic activities, whichever is the lowest amount.

The €1,500 limit will be increased by:

  • €8,500 per year if the increase comes from employer or employee contributions to the same social benefit scheme for amounts less than or equal to those shown in the table below, and according to the employer's annual contribution:

    Employer's annual contribution
    Maximum employee contribution
    ≤ 500€
    The result of multiplying the employer's contribution by 2.5
    Between €500,01 and €1,500
    €1,250 plus the result of multiplying the difference between the employer's contribution and €500 by 0.25
    > €1,500
    The result of multiplying the employer's contribution by 1

    A multiplier of 1 is applied when the employee's net yearly earnings from work is more than €60,000 from the employer making the contribution.

  • €4,250 per year, provided that this increase is derived from contributions made by self-employed workers or sole traders to simplified employment pension plans for self-employed workers/sole traders, or from contributions made by individual entrepreneurs or professionals to employment pension plans of which they are promoters and unit holders.

The maximum reduction applied for the increases in the two points above will be €8,500 per year.

The amounts contributed by the company resulting from decisions by the worker are considered contributions by the worker for such purposes.


Does it cost my company or my employees anything to adhere to the BK Empresas II Employment Plan?

The formalisation and start-up, in addition to being simple and fast, does not entail any expense for the company or for the employees.

Can I select which employees to include in the Employment Plan?

No, it is not possible. All company employees must be integrated into an employment plan, although it is possible to require a minimum seniority of up to 2 years for employees to access the pension plan. It is also interesting to know that the employer contribution may not be the same for all employees, being able to adjust it according to the criteria of each company: organisation chart, category, seniority, etc.

How much can you contribute to an employment plan?

The maximum joint annual contribution amount (employer and employees) for each employee is €8,500 and the minimum is €50. The employee's contribution will depend on the employer's contribution (see section “contribution limits”).

What taxation do the contributions involve for the company?

Employer contributions are exempt from personal income tax withholding and are tax deductible for corporation tax.

Additionally, up to 10% can be deducted from the full amount of the contributions made to employees if their gross annual remuneration does not exceed €27,000.

What taxation is involved for the employee?

It is necessary to distinguish between the taxation on the contributions made by the employer and those made by the employee themself.

Contributions made by the employer

At the time of receiving them, they are not subject to personal income tax withholding. When filing their tax return, contributions increase the employee's work-related income while they benefit from the reduction applicable to pension plans, so there is a cancelling-out effect.

Contributions made by the worker themself

The contributions they make reduce their personal income tax base. The employee's contribution will depend on the employer's contribution (see “Contribution limits” section). This limit is separate from the individual contribution limit of €1,500 per year.

The maximum reduction for all contributions, both those made by the worker and by the employer, cannot exceed 30% of the net income from work and economic activities received individually in the year.

What happens if an employee leaves the company?

Contributions made by both the company and the worker belong to the latter and, therefore, in the event of leaving the company, the participant's consolidated rights may be transferred to any individual pension plan of the employee's.

When can employees redeem the pension plan?

The contingencies to be covered are retirement, total permanent disability and death. The accumulated capital may be collected in the form of capital, income or a combination of both. Fiscally, the benefits received by the beneficiaries of a pension plan will be integrated into the personal income tax base as income from work.

Who supervises occupational pension plans?

Pension funds are subject to continuous supervision by the Directorate-General for Insurance. In addition, each of the pension funds has its own individualised audit carried out by an independent auditor and, lastly, the pension fund investment portfolio is subject to supervision by the depositary entity.

Got a question?

The Bankinter Corporate help centre has the answer.