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V5327-16 15 December 2016 · SG de Tributación de las Operaciones Financieras Criterion in force
IRPF · planes de previsión asegurados

40% reduction applicable to the lump sum or mixed component of an insured pension plan benefit

The applicant seeks clarification on whether the transitional regime applies to the mixed redemption of an insured pension plan. The Directorate General for Tax (DGT) rules that the 40% reduction applies to the portion of the benefit received as a lump sum, provided that the contribution and timing requirements are met.

The question raised

Application of the transitional regime in the case of receiving the benefit in a mixed form.

The DGT's ruling

Benefits from insured pension plans are considered income from employment. If received as a lump sum or in a mixed form, the 40% reduction may be applied to the portion received as a lump sum, provided it corresponds to contributions made until December 31, 2006, and more than two years have elapsed since the first contribution. This reduction may only be applied once, at the taxpayer's discretion, within the same tax period. For contingencies in 2012, the transitional regime may be applied to benefits received until the close of the 2020 tax year.

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