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How you contribute
How much you can contribute, contribution frequency, and the degree of flexibility the policy offers.
SR Financial - Savings Insurance
PIAS
PIAS stands for Individual Systematic Savings Plan (Plan Individual de Ahorro Sistemático). It is a life insurance policy designed to accumulate savings and, later on, convert them into a life annuity: an income paid to you for the rest of your life. It can help you build future income, subject to the terms and conditions of the selected policy.
Key Considerations
Information prior to decision-making
We explain how to save, how your funds perform, and the options available for drawing down your capital.
02
How your savings grow
What drives its value, whether it is linked to investments, and what guarantees are included. If tied to financial markets, the value of your savings may fluctuate up or down.
03
When and how you can access your funds
How to convert your savings into an annuity, along with the conditions and potential costs of early withdrawals.
Building accessible savings
Before selecting a PIAS, it is essential to assess your savings capacity and define your desired future income. We will clarify the associated costs, access to liquidity, and the criteria for establishing an annuity. The applicable tax treatment will be reviewed based on your individual circumstances and statutory requirements.Learn more: Finanzas para Todos - What is a PIAS?.
Before reaching out
Frequently Asked Questions
What is the difference between a PIAS and a pension plan?
A PIAS is a life insurance policy designed to fund a life annuity. A pension plan is an alternative retirement savings vehicle. Both have distinct terms regarding contributions and withdrawals, which we can illustrate through clear examples.
What is a life annuity?
It is a recurring income paid to you for life in exchange for a committed capital amount allocated to the policy. The payment amount, frequency, and any supplementary coverage are determined when the annuity contract is executed.
Can I withdraw my savings before establishing the annuity?
The PIAS contract specifies the terms for accessing accumulated savings, including applicable fees and surrender conditions. It is also essential to assess the potential impact an early withdrawal may have on its tax treatment.
Would you like to speak with an advisor?
Tell us about your savings goals and your target timeline for drawing down income.