Economy relaxing the rules to use the money saved for retirement PEDRO GONZALEZ
The Government continues to seek measures to alleviate the impact of the crisis on the unemployed. Now last a change in the regulation of pension plans and funds to enable unemployed people to dip into the capital that has been saved, without having to wait until retirement age.
Thus, after six months without work, a person may have the money deposited into your pension plan. Furthermore, the reform being prepared by the Directorate General of Insurance department under Ministry of Finance will consider to be available if the pension fund who is unemployed is the spouse of the participant, or an ascendant or descendant that is part of the family unit.
Currently, the law allows only the participant to use the money in times of emergency plan, understood as a prolonged illness or unemployment lasting more than twelve months. In 2007 (latest official data), about 5,840 unemployed participants drew on these savings, for a total of 44.2 million euros, which is an average of 7,600 euros per person. In that year, the total number of members was 7.5 million, with an accumulated capital plans and funds of 86,000 million euros in total.
One in three
The crisis has triggered the numbers of unemployed and people threatened with losing their jobs are very difficult to find another occupation. According to data from the latest Labour Force Survey (EPA) published a week ago and for the fourth quarter of 2008, one third of the unemployed had spent more than six months without work: namely, 1,183,500 of the 3,207,900 people who had no job. A year earlier, were 671,600 unemployed people in that situation.
The amendment to the regulation of pension plans will be discussed with industry, consumers and the social partners on 9 February in the Insurance Advisory Board, which has to issue a mandatory report.
Industry sources expressed their position in favor of reform: "Whatever is flexible and that the participant will see that it has been stuck in a dead end help that there is more certainty about pension plans. It good for the product, "said a spokesman for Inverco, the association of the managers of these financial products and investment funds. Processing
It does not change the procedures to have the money, which are simple. The participant must attend the institution where he hired the pension plan with a certificate of public employment services attesting to their legal situation of unemployment. You can then use the money freely, resacatando all or gradually accumulated. It is advisable to analyze the fiscal impact of the bailout of the fund (see attached information). "The logical thing is to be used in an annuity, in installments, and paid less tax," said Luis del Amo, director of the Register of Tax Advisers Economists (REAF).
This measure is the second for the unemployed, after the moratorium on mortgage payments. Procedures within the Administration itself will still take between three and four months to get to the BOE.
VIA - publico.es (31-01-2009)
Note: to date there has been reform that mention this article.
0 comments:
Post a Comment