the specialized publication 3 Economy has published in its online edition an opinion piece from our managing partner Antonio ballester, which is entitled "The error of the Government in terms of pension plans is confirmed." In it, he analyzes the consequences that the limitation of the contributions that can be deducted in personal income tax has had for savings. In 2021 the limit was lowered from 8.000 to 2.000 euros. And in 2022 that limit was further reduced, remaining at only €1.500.
Antonio Ballester highlights that "since 2021 less pension savings were generated and there was greater collection (payment of taxes) for this important group of taxpayers" and takes stock of what happened in 2021 and 2022 with a balance that "could not be more discouraging":
- Savings in private pension plans have sunk 60% in these two years (2021 and 2022). Said quantitatively, and according to INVERCO data, from the 4.314 million saved and deposited in 2020 we have gone to contributions in 2022 of 1.709 million, which is 60% less.
- Group and employment pension plans have barely grown.
- Public promotion employment plans presented as the great alternative to individual plans are yet to come.
The article by Antonio Ballester concludes that «maintaining an individual system of contributions to pension plans with tax incentives could 'alleviate' this uncertain future for many taxpayers. Rectifying is wise."