Contributions to individual and associated pension plans have become limited to a maximum of 1,500 euros per year. This amount applies jointly, so if you have several plans, the annual maximum that can be contributed as the sum of the contributions to all of them is 1,500 euros.
In the case of occupational pension plans, there is a maximum joint limit of 10,000 euros per year, of which the participant’s contributions may not exceed 1,500 euros to which it is limited (including individual pension plans). The employer could contribute the total of 10,000 euros, leaving in this case the participant without being able to make any individual contribution.
Examples of contributions:
- Scenario 1: Person who works for someone else. The company contributes € 3,500 per year to the employee’s pension plan, business social security plan or mutual social security. The employee can contribute an additional € 1,500 (maximum individual contribution) to any social security instrument, including associated or individual pension plans.
- Scenario 2: Person who works for someone else. The company contributes to the employee € 8,500 per year to the employment pension plan, business social security plan or social security mutual fund. The employee can contribute an additional € 1,500 (up to € 10,000) to any social security instrument, including associated or individual pension plans.
- Scenario 3: Person who works for someone else. The company contributes € 10,000 per year to the employee to the employment pension plan, business social security plan or social security mutual fund. The employee cannot contribute any additional amount to social security instruments.
Tax residents in Pais Vasco:
- They can contribute up to a maximum of € 5,000 per year to individual EPSV or individual pension plans. In the event that the employer contributes to an EPSV or employment pension plan, the maximum joint contribution is 12 thousand euros per year including employment and individual plans.
Tax residents in Navarra:
- Those under 50 may contribute a maximum of 2,000 euros per year, while those over 50 may contribute up to 5,000 euros per year.