Encouraging and facilitating saving is one of our organisation's principal objectives. We understand saving as being the optimal route towards families' stability and future. Risk coverage exists to help us through difficult moments, but it is saving which will help us maintain our quality of life over time.

SISPs (Systematic Individual Savings Plans) were conceived with the principal, long-term aim of providing an annuity through periodic premiums in such a way that the beneficiary of the insurance receives the accumulated saving on the maturity date of the policy in the form of an annuity.

The return on an SISP is guaranteed by the insurance company, irrespective of the developments of the  financial markets; in fact they have the same technical structure as savings and retirement insurance.

From the tax perspective, the insured party is exempt from paying tax on the returns generated during the accumulation of premiums,

provided the following requirements are met:

> The Policy Holder, Insured Party and Beneficiary must be the same person.

> The maximum annual limit which can be contributed is €8,000; likewise, the total amount of premiums accumulated throughout the entire period may not exceed €240,000.

> The minimum period between the first premium and the payment of the benefit (in the form of an annuity) is 10 years.

The product is liquid, but the redemption thereof in the form of a lump sum  results in the loss of the tax benefits, owing to which, if it is not paid in the form of an annuity and does not meet the aforesaid requirements, it is equivalent to savings and retirement insurance.

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Pension Schemes | ISP | Systematic Saving | Mutual Funds