Summary table: Transitory rules: applicable reductions on benefits received in the form of capital derived from private social security systems
Benefits |
Reductions |
Time limits | ||
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On collective insurance contracts that implement company pension commitments |
Benefits received in the form of capital derived from contingencies occurring after January 1, 2012 from insurance policies contracted before January 20, 2006. |
Business contributions not attributed to workers The reduction is applied to the benefit received. |
Reduction of 40% in the following cases:
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If the benefit in the form of capital is received after these periods have ended, the taxpayer will not be able to apply any reduction for this concept. |
Business contributions attributed to workers The reduction applies to: (+) Benefit received (–) Business contributions imputed to the worker (–) Contributions, if any, made by the worker himself |
Reduction of 75% in the following cases:
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Reduction of 40% in the following cases:
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This tax reduction regime applies to benefits received in the form of capital in the same tax period and will only be applicable to the part of the benefit corresponding to the premiums paid up to December 31 , as well as the ordinary premiums provided for in the original policy paid after this date. |
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On pension plans, social welfare mutual funds and insured pension plans |
Benefits received in the form of capital arising from contingencies occurring after January 1, 2012. The reduction may only be granted to amounts received in the form of capital in the same tax period for the part corresponding to contributions made up to December 31 2006. The reduction refers to the set of pension plans and insured pension plans subscribed by the same participant and with respect to the same contingency. In the event of receiving benefits in the form of capital derived from a pension plan and from a social welfare mutual fund for the same contingency, the application of the reduction will refer to the benefit from the pension plan and from the social welfare mutual fund independently. |
Reduction of 40% when the following circumstances occur:
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50% reduction for:
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