Can I redeem my benefit if I am affected by an ERTE (temporary lay off)?
Yes, it is an exceptional case and among other cases, this possibility can be accessed by those who are legally unemployed as a result of an ERTE. The amounts to request, (for all of your pension plans, Mutualities and other complementary products to retirement), are limited to the net wages not received during the period of the ERTE, provided they do not exceed the lesser of the following amounts:
1. Net wages not received for the duration of the alarm state, plus an additional month (only in the event that the ERTE is terminated after the alarm state. If earlier, the amount will be paid until the date of completion of the ERTE).
2. The result of prorating the 12-month IPREM for 2020, multiplied by three (€ 1,613.52 per month) in the proportion corresponding to the period of duration of the ERTE, with the limit in time of the alarm state plus one month.
The amounts requested are taxed in your Personal Income Tax as work income, so it is necessary to take into account the effect that can occur when making the declaration of income for the year as a result of having multiple payers.
From Loreto we recommend that this collection be requested only and exclusively if it is not possible to meet your current need for liquidity through other savings or products, so that the future complementary retirement benefit is not diminished, which also due to this context is convenient to keep as much as possible.
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.
In addition to the contributions made through the company, can I make additional contributions?
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 (8.000€/year).
Are the investments of Loreto Mutua safe?
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.
Can I transfer the Mutuality to a Pension Plan?
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”.
Can my relatives belong to Loreto Mutua?
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.
If I leave my company, can I continue making contributions to the Mutuality and continue benefiting from the returns?
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.
Can my capital increase or decrease, even if it does not contribute?
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.
I have been dropped out of Iberia as a result of an LFAP. Am I interested in requesting my benefit?
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.
I have already retired in the Social Security, am I obliged to request the payment of my benefit?
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.
How can I know the capital I have accumulated?
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 andway 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 I will be able to collect my pension plan?
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.
How can I collect my pension plan?
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
It is always convenient to inform yourself of the advantages and disadvantages of each of the options according to your personal situation.