Bankia decides to subsidize its pension plans

Users who currently have contracted some of the pension plans with Bankia are in luck. Among other reasons because from now on they will be rewarded and therefore they will get more out of this retirement product. As you have commented in your recent press release. In a commitment to this financial instrument that became more relevant due to the low pensions that currently exist in our country. Even though for the moment, this strategic measure has not been transferred to other banking entities in Spain.

Well, to get to the point in this post, it should be noted that according to Bankia it will pay a bonus of up to 5% to those who make contributions and transfers to pension plans within the framework of the pension campaign, which will run until the end of the year . The scheme of bonuses and the discount percentage will be based on the amount contributed or mobilized from other entities, the destination plan and the commitment to stay.

On the other hand, from this bank reinforces its pension campaign with the launch of the 'Bankia Protegido Renta Premium X' plan, which guarantees upon maturity, in December 2026, a accumulated revaluation of 16,82%, which represents an APR of 2%. This product is exclusively intended to attract new contributions and external mobilizations from third parties.

Bankia adapts them to the needs

It is also important to note that this product complements the list of pension plans marketed by the entity, with which it is feasible to invest in the main financial markets, adapting to customer expectations based on their profile and the risk involved. I want to take over. Therefore, Bankia clients can make contributions to short-term fixed income plans, long-term fixed income, mixed fixed income, mixed variable income, variable income, guaranteed or even profiled.

Bankia in its press release is committed to personalized advice as an essential element to obtain the final objective of a adequate retirement benefit. Advice that takes into account the characteristics of the client, such as their age and risk profile, and that periodically reviews the recommended products, in order to offer at all times the plan or plans most appropriate to their profile as an investor.

Pension plan simulator

To help all those who want to plan their retirement, Bankia puts at your disposal a powerful simulator to detect the best pension plan, in what is constituted as an online tool with which the interested party can calculate monthly rent that you could get at the time of your retirement from the monthly payment that you save for this purpose. You can also find out how much you would have to contribute to your pension plan to get a certain amount of savings at the time of your retirement.

Additionally, the bank will encourage contributions to pension plans with different gift packages according to contributions made to these instruments. Depending on the amount contributed, the plan member can choose between two gifts: a physical or digital gift, consisting of a voucher, for a certain amount, redeemable on Amazon. As a new commercial strategy to bet on this very special product for the golden years of the clients.

With the generation of gifts

From this dynamic, the customer will be able to select between the gifts based on the following scaling:

• For contributions between 3,000 and 4,999, the member can choose an Amazon voucher for 25 euros or an automatic wine opener. For contributions between 5,000 and 7,999, you can choose between a 45 euro voucher to spend on Amazon or a Sony portable speaker. For contributions between 8,000 and 15,999, you can select between a check for 100 euros for purchases on Amazon or a sports watch.
• And to finish contributions from 16,000 euros, the customer can choose between a coupon valued at 250 euros to exchange it for any article from Amazon or Toshiba Smart TV. Where the client himself will be able to make his contributions or mobilizations to pension plans of the entity's digital channelsEither from Bankia On Line, or through the bank's application. At the same time, from these digital platforms you can check the gifts that can be chosen based on the amounts contributed.

Data on the plan market

Today, more than 20% of pension plan sales are made through digital channels, seven points more than a year earlier. Despite the fact that there is a certain caution when subscribing to this type of financial instruments that are so special and at the same time necessary for a large part of Spanish society. In part, this is caused by the low amount that you currently present for public pensions and whose minimum amount for next year is around 650 euros one month. Including the new appraisals made by the current government of Spain. A reality that many of the Spanish pensioners are not unaware of.

Is it convenient to hire this product?

On the other hand, it is necessary to analyze from now on whether in fact it is important to highlight subscribe as of this current year. Because in effect, one of the motivations for subscribing a product of these characteristics is that the claimant has a very low contributory pension and that it does not allow him to have an efficient quality of life throughout the enjoyment of his golden years. With a pension plan, you can increase your income based on the contributions you have made during your lifetime. In other words, you can adjust it to your real needs and as a complement to the pension you receive.

Today, the minimum pension in Spain is one of the lowest in the European Union, where the minimum hardly exceeds the level of the 600 euros per month. While the non-contributory is stipulated for this year at 386 euros per month. This low monetary perception generates that a good part of the employees have to look for a complement to it. And it is at this level where the so-called pension plans that are present in the offer of the main banking entities play a very relevant role.

Minimum pensions in 2019

Looking ahead to the current year, pensions will be initially revalued in accordance with the inflation forecast (1.6%), with the same guarantee of compensatory payment in the event of a deviation in inflation at the end of the year, as will happen this year. As a result of this measure, contributory pensions will be established in the following way that we detail in this information.

Retirement pension of a holder aged 65 or over

In modality with a dependent spouse, 810.60 euros. Without spouse, 656.90 euros. With non-dependent spouse 623.40 euros.

Retirement pension of a holder under 65 years of age

In modality with a dependent spouse, 759.90 euros. Without spouse, 614.50 euros. With non-dependent spouse 580.90 euros.

Retirement pension 65 years for serious disability

In modality with a dependent spouse, 1,215.90 euros. Without spouse, 985.40 euros. With non-dependent spouse 935.1 euros.

Permanent disability pension: severe disability

In modality with a dependent spouse, 1,215.90 euros. Without spouse, 985.40 euros. With non-dependent spouse 935.10 euros.

Pension for absolute permanent disability

In modality with a dependent spouse, 810.60 euros. Without spouse, 656.90 euros. With non-dependent spouse 623.40 euros.

Non-contributory pensions

Another aspect that must be paid attention is that of people who cannot have access to contributory pensions. Mainly for not contributing fifteen years in Social Security contributions and that they have as a last resort to demand a non-contributory pension. Well, this aid to people who are between 65 and 67 years old will be paid, if they meet all the requirements, with a monthly payment of 385 euros.

Even though they should not have income over 7,200 euros about a year. If for any reason they had annual income above the compensation, this official aid would be withdrawn to a minimum that is defined around 110 euros per month. In which case, one of the solutions to have a decent retirement would be to extend it through a more or less stable pension plan. Even though, in any case, it will be very necessary to formalize it with due foresight for the amount to be truly significant.

Another measure to correct this monetary deficiency would be based on hiring an investment fund in its most varied models. But in no case do they guarantee a minimum profitability, but on the contrary, it can generate a negative balance as has happened in the year that we have just closed. With significant decreases in their investment portfolios. And it is at this level where the so-called pension plans that are present in the offer of the main banking entities play a very relevant role.