The owners of pension plans that have been affected by the dana will be able to withdraw part of the money, without waiting for retirement, as is usual in this type of financial product. The Council of Ministers today approved a Royal Decree-Law that includes a new exceptional case of pension plan liquidity for those affected by the damage caused.
With this measure, these people will be able to have early access to the rights consolidated in the pension plans of which they are participants to meet their immediate liquidity needs, up to a maximum of 10,800 euros.
The association of fund managers, Inverco, and its associated entities explain that they will have the maximum availability to quickly manage these requests, so that the participants who require it can quickly have the necessary liquidity to face these difficult circumstances. .
As has happened previously with the cases due to Covid-19 and the La Palma volcano, “the need to stimulate savings in pension plans is evident, once again, which in addition to serving to face retirement as the main purpose, allow additional coverage for the population in situations as difficult as those currently faced by the residents of the affected area.”
Normally, the redemption of this financial product can only be done when the time comes for retirement. However, various exceptional liquidity assumptions have been approved for the past year. There are also illnesses, long-term unemployment or risks of eviction from the main home.
