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V1981-18 2 July 2018 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · seguro colectivo

Collective insurance benefits under pension commitments do not qualify for 40% or 30% reductions

The taxpayer asks whether reductions can be applied to the capital of a collective insurance policy received upon retirement and if depositing the funds into a joint account with a spouse constitutes a gift. The DGT rules that the reductions do not apply as the insurance was contracted in 2012 and that the income is subject to full taxation under the beneficiary's Personal Income Tax (IRPF).

The question raised

Question raised: Taxation of the benefit. Possibility of applying any reduction to the capital redeemed from the collective insurance. Whether a donation in favor of the spouse is considered if the insurer deposits the total amount of the benefit into a bank account held jointly by the inquirer and their spouse, married under the community property regime.

The DGT's ruling

Benefits from collective insurance policies that implement pension commitments are considered income from employment. The 40% reduction is not applicable because the insurance was contracted in 2012, outside the transitional regime. The 30% reduction for irregular income is also not applicable, as Article 17.2.a.5 of Law 35/2006 expressly excludes these benefits. Finally, the income is attributed exclusively to the beneficiary, regardless of the matrimonial property regime.

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