Frequently Asked Questions about Mutuality
Check the most common doubts
The legal limit of individual contributions for all its pension products has been limited to a maximum of € 2,000 per year.
But in the Mutual Society or in Employment Plans, this limit may be increased by an additional € 8,000, only if such contributions are made by the company.
As with the limits on contributions, we can deduct in our income statement up to a maximum of € 2,000 for our individual contributions (or 30% of the net income from work or economic activities).
This amount that we can deduct can be increased by another € 8,000, if such amount comes from business contributions to the Mutual Society or employment plan.
The deadline for applying for the benefit due to being unemployed as a result of an ERTE derived from the Covid19 health crisis, has not been in force since September 14. Therefore, it is no longer possible to collect this exceptional case, which was allowed in the RDL. 11/2020 of March 31 for being requested in the six months after the declaration of the state of alarm, occurred on March 14.
Loreto Mutua implements the pension commitments of your company.
The pension commitments of companies can be made through two different figures: Pension Plans or Insurance Contracts, and in this last case, insurance can be articulated with insurance companies or Mutual Societies, which is our case.
You can make contributions on a regular basis through an individual contract with the mutuality, after which we will charge you the amount you propose. Another way is making extraordinary contributions by bank transfer whenever you wish.
Remember that the contribution cannot exceed the economic limits established by law.
We have been managing the assets of Loreto Mutua for more than forty years, and the results and track record do support us. The risk profile of the investments is MEDIUM (category: Fixed Mixed Income).
The investments are accredited by the independence, the specialization and the professionalism: Loreto does not depend or is part of any financial group, we only manage Complementary Social Welfare and our team is very experienced, dedicated and skilled.
The investment process combines the achievement of the objectives of profitability and the global tolerance to the marked risk.
Loreto Mutua, Mutual Society, is under the supervision of the General Directorate of Insurance and Pension Funds, in addition to external audits and internal control procedures that minimize risks.
The depository of securities is located in the Spanish credit institution with the highest rating.
No, since the pension plan regulations provide only the mobilization of rights between pension plans, insured pension plans and employment pension plans, but not with mutual societies. There is no regulation that allows mobilizing the rights of mutual societies to other social welfare instruments (pension plans,…).
Therefore, it makes clear that belonging to the Social Security System “it is not possible to transfer to a pension plan”.
Yes, you can hire our Loreto Optima, Personal Pension Plan. It is our -awarded- Personal Pension Plan, for anyone, for everybody. Nevertheless, if the belong to the airline industry, they can become members of the mutuality too.
You can continue making regular or extraordinary contributions whenever you want, and as the money remains in the Mutuality, you will continue to benefit from the returns obtained each year.
Yes, as long as you haven’t requested the payment of your benefit, the capital will remain subject to the profitability of the Mutuality, whether positive or negative.
To take this decision we recommend you to contact us in order to advice or consult whenever you decide to apply for the benefit, so we can assist you deeply about all the circumstances and possibilities, both fiscal and economic.
If you belong to Iberia, in the case of early retirement, the company has committed to continue contributing the company fee, up to being 65 years old in the collective of Land workers. In the collective of Flight workers, as long as the payment of the benefit is not requested in any of its modalities, the company will continue contributing up to being 60 years old.
In cases of deferred relocation and low incentive, you can continue making contributions on a personal basis to continue increasing your savings for retirement.
The Law not only allows you to decide the moment in which to begin to receive the benefit, but also allows you to continue making contributions.
You decide when and how to collect the benefit.
We recommend that you ask us for information to fully understand the economic-fiscal circumstances and possibilities of your decision.
In the private area of our website www.loretomutua.com , you have available all the information about your benefits rights,…, including the breakdown of your contributions up to this moment.
You also have a simulator to project future savings in order to be able to plan the most suitable moment and way of collecting your benefit.
In any case, we will be happy to assist you by phone at 91 758 96 50, or by receiving you at our offices. To avoid unnecessary waiting, we recommend that you request a prior appointment at 900 847 001.
When any of the contingencies covered by the mutuality: Retirement, disability, great disability and death are met.
In addition, the Regulations also contemplate the possibility of anticipating the collection of the benefit in the following circumstances: After a L.F.A.P (labour force adjustment plan), after an exceptional settlement for unemployment and finally, for over 60 years, with the specifications set by the Law.
In the event of death, the collection of your savings in Loreto Mutua will be for the people you have designated as beneficiaries in the Mutual Society.
The designation of beneficiaries that you have completed prevails over the testamentary provisions, unless the will is subsequent to the designation in Loreto Mutua, and it is expressly specified in it, the people and distribution among them of the mutual benefit rights.
Appointing beneficiaries at the Mutual Fund, avoids misunderstandings and facilitates procedures, by not having to present all the documentation of the will.
By entering your Private Area on our website, you can check your beneficiaries and the percentages assigned at any time, make a new designation, or designate them for the first time.
The benefits generated by death are also taxed as work income in the beneficiary’s personal income tax but are not subject to Inheritance and Gift Tax.
In the form of capital: All the accumulated consolidated rights, at one time are collected
In the form of uninsured temporary income: Monthly payments of the desired amount are received, until all the consolidated rights are exhausted. At any time, a total settlement of the outstanding balance or part of it can be made.
In mixed form: One part is charged in the form of capital and another part in the form of unsecured temporary income.
In the form of insured temporary income: Consists of hiring a fixed income for a specific period of time