Bankinter increases assets under management in pension plans in Spain by 4.5% to over €2,780 million

The Bank extends until 31 March its promotion to reward pension plan transfers with a cash bonus of up to 4% of the volume transferred.

Bankinter ended 2020 with an increase in managed retirement savings. Total pension plan assets in Spain reached €2,786 million, up 4.5% on 2019. The Bank pursues this business line through Bankinter Seguros de Vida, owned 50:50 by the Bank and the insurance company Mapfre.

The Bank occupies the seventh slot in the VDOS ranking of pension plan assets.

In terms of the return on managed pension funds, despite the volatility that marked 2020 three equity funds performed particularly well and made it onto the top 20 list published by Inverco: BK Variable America grew by 13.1%, BK Variable Asia FP by 12.7% and BK Variable Internacional by 10%, all between January and December 2020. The auditor of the funds is KMPG.

However, as with all investments, customers are advised to bear in mind that past returns do not guarantee future returns.

In addition, the Bank has decided to extend the promotion it launched last October until the end of March. The promotion includes a cash payment in customers' accounts of up to 4% for plans transferred from other entities and also rewards regular contributions and permanency.

For the transfer of a pension plan or EPSV of €30,000 or more, the cash bonus is 3% gross of the balance transferred (net of inflows and outflows). For transfers of less than €30,000 but at least €1,000, the bonus is 2% gross.

In both cases, customers can obtain an additional 1% bonus for setting up, during the promotion, a regular monthly contribution of at least €100 and maintaining it for 24 months. The bonus will be paid into customers' accounts on 31 March.

To be eligible for these bonuses the pension plan must remain with the Bank for at least six years, although customers should bear in mind that a pension plan is a long-term savings instrument. In all cases, the maximum bonus is €5,000. Customers should check the risk indicator and liquidity alerts in the following section of the Bankinter website: Pension and savings plans for your retirement | Bankinter