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Transfers Frequently asked questions about Retirement plans
How do retirement plans work?
With the exception of retirement plans featuring guaranteed capital, all other plans carry some level of risk.
Retirement plan funds do not assure the invested capital or returns, as they are subject to the performance of underlying assets like stocks or liquidity. These assets constitute the fund's investments.
In contrast, retirement plan insurance comes in various forms. Some, like funds, lack guarantees for invested capital and returns. However, others provide assurances for both the invested sum (guaranteed capital) and a minimum return.
Absolutely, you can make one-time contributions starting from €30 by reaching out to a branch.
The conditions provided by law for early redemption of retirement plans are:
a) Old age retirement (Insured Person) *
b) Long-term unemployment (Insured Person or household)
c) Permanent incapacity for work (Insured Person or household)
d) Serious illness (Insured Person or household)
e) From the age of 60 (Insured Person) *
f) Payment of mortgage loan installments (for own and permanent housing) *
g) Death of the Insured Person
*In situations marked with an asterisk (*), you can only withdraw payments made more than 5 years ago. After this 5-year period, and if at least 35% of the funds invested in your PPR have been withdrawn in the first half of the contract, you are eligible to fully redeem your PPR.
No, if you transfer the money from one retirement plan to another, you won't incur any transfer fees on the amount moved from your accumulated savings.
Investir num Plano de Poupança Reforma (PPR)
In most investment products, taxes are applied to the money you earn when you cash out. In a retirement plan, these taxes are usually lower than other investments, sometimes up to 20% less. You also get IRS benefits, potentially up to €400 annually based on age and contributions.
For retirement plans with insurance, you can cancel within 30 days (Right of Free Resolution). If you cancel, you might get back your money minus policy and disinvestment costs, if any. With retirement plans, you can redeem anytime after subscribing, with the price set the next business day after the redemption request.
