Skip to main content
Specific manual for people with disabilities

Perception of benefits and early disposition of consolidated rights

Tax regime of benefits received

The benefits received for contingencies covered by pension plans (article 8.6 of the consolidated text of the Law regulating Pension Plans and Funds, approved by Royal Legislative Decree 1/2002, of November 29) will be taxed in their entirety as work income without in any case being able to be reduced by the amounts corresponding to excess contributions.

Regarding the contingency of “retirement”, it should be noted that article 8 of the Regulation on pension plans and funds approved by Royal Decree 304/2004, of February 20, provides for the possibility of anticipating the benefit corresponding to said retirement contingency in two cases.

  • From the moment the participant reaches 60 years of age, provided that the plan specifications so provide and the following circumstances occur:

    1. That he/she has ceased all activities that determine registration with Social Security, without prejudice to the fact that, where applicable, he/she continues to be assimilated to registration in some Social Security regime.

    2. That at the time of requesting early withdrawal, the person does not yet meet the requirements for obtaining retirement benefits under the corresponding Social Security system.

  • When the participant, regardless of his or her age, terminates his or her employment relationship and becomes legally unemployed in the cases contemplated in articles 49.1.g) [due to the death, retirement or incapacity of the employer], 51 [collective dismissal], 52 [for objective reasons] and 57 [bankruptcy proceedings] of the consolidated text of the Workers' Statute Law approved by Royal Legislative Decree 2/2015, of October 23.

Furthermore, with respect to the benefits received, take into account the possible application of the transitional regime of reductions applicable to the benefits received in the form of capital from social security systems and arising from contingencies occurring in the years 2015 or later, for the part corresponding to contributions made until 31 December 2006, which is discussed in Chapter 3.

In the event that the benefit is received in the form of an insured life annuity, reversal mechanisms or certain benefit periods or counter-insurance formulas may be established in the event of death once the life annuity has been established.

Early disposition of consolidated rights

  • In general

    The vested rights of participants, members or insured persons in pension plans, insured pension plans, company social welfare plans and social welfare mutual funds may only be made effective in advance in the cases provided for in article 8.8 of the aforementioned consolidated text of the Law on the Regulation of Pension Plans and Funds approved by Royal Legislative Decree 1/2002, of November 29, which are long-term unemployment, serious illness and from 2025 onwards for business contributions made at least 10 years ago.

    In the event that the participant, mutualist or insured party disposes, in whole or in part, of the consolidated rights, as well as the economic rights derived from the social security systems, in situations other than those provided for in the regulations on pension plans and funds that we have indicated , he/she must replace the reductions in the tax base improperly made by means of the appropriate supplementary self-assessments, including late payment interest.

    supplementary self-assessments must be submitted within the period between the date of the advance withdrawal and the end of regulatory period for filing the declaration corresponding to the tax period in which the advance withdrawal is made.

    In this case, the amounts received that exceed the amount of the contributions made, including, where applicable, the contributions imputed by the promoter, will be taxed as work income in the tax period in which they are received.

  • Exceptionally, and only for taxpayers affected by the DANA

    However, in order to make it easier for those affected by the Isolated Depression at High Levels (DANA) to meet their sudden liquidity needs, article 51 of Royal Decree-Law 7/2024, of November 11, which adopts urgent measures to promote the Immediate Response, Reconstruction and Relaunch Plan against the damage caused by the Isolated Depression at High Levels (DANA) in different municipalities between October 28 and November 4, 2024 (BOE of November 12), has established in all these cases, exceptionally and exclusively during the period between November 13, 2024 and May 12, 2025, the possibility for participants in pension plans, as well as insured persons of insured pension plans and company social security plans and mutual members of social security mutual funds, for their supplementary funds, may dispose of their economic rights in advance in certain cases and by setting a maximum amount of disposal.

    Conditions

    1. When they are owners of agricultural, forestry or livestock farms, commercial, industrial and service establishments, workplaces and similar, located in the municipalities included in the geographical scope of application of this Royal Decree-Law and who have suffered damage as a direct consequence of the isolated depression at high levels (DANA) ;

    2. When they are self-employed workers who are forced to suspend or cease their activity as a direct consequence of the DANA, due to accidents occurring in the municipalities included in the geographical scope of application of this Royal Decree-Law;

    3. In the case of workers affected by temporary employment regulation files (ERTE) based on the provisions of article 47.5 of the consolidated text of the Workers' Statute Law, approved by Royal Legislative Decree 2/2015, of October 23, of companies with registered office in the municipalities included in the geographical scope of application of this royal decree-law that have suffered damages as a direct consequence of the DANA;

    4. In the event of loss of the primary residence, or damage to said residence, as well as damage to the belongings of said residence when these events have occurred as a direct consequence of the DANA and the residence is located in the municipalities included in the geographical scope of application of this Royal Decree-Law.

    Please note that the municipalities included in the geographical scope of application of this Royal Decree-Law are those listed in the Annex to Royal Decree-Law 6/2024, of November 5 ( BOE of November 6).

    Maximum withdrawal amount

    The maximum withdrawal limit per participant, insured or mutual member, for all pension plans, insured pension plans, company social security plans and mutual social security funds of which they are holders and for all the situations indicated, will be the result of prorating the annual Public Indicator of Multiple Effects Income (IPREM) for 12 payments in force for the 2024 financial year (which amounts to €7,200) multiplied by three for a maximum period of six months computed from November 13, 2024.

    Therefore, (€7,200 x 3) ÷ 12 x 6 = €10,800.

    Refund of consolidated rights

    The reimbursement of vested rights will be subject to the tax regime established for pension plan benefits, that is, they are taxed as work income and are imputed to the year in which they are received.