PPR Retirement Savings Plan
A PPR, or retirement savings plan, is a medium to long-term savings solution for anyone seeking greater financial security for the future.
A PPR insurance plan can help supplement your retirement income and may also provide tax benefits, depending on the applicable conditions. It may therefore be suitable for employees, self-employed people and anyone wishing to save regularly.
At SomaFuture Insurance Brokerage, we assess your financial circumstances, objectives and capacity to save. We then work with a range of leading insurers to find the PPR plan best suited to your needs.
Key Features of a PPR Insurance Plan
Standard Cover
– Capital-guaranteed insurance, offering lower risk and potentially lower returns;
– Non-capital-guaranteed insurance, offering potentially higher returns but involving greater risk;
– Partial or full capital protection, depending on the product;
– Death benefit, paid to the nominated beneficiary;
– Potential Portuguese income tax relief of up to 20% of contributions, subject to annual age-based limits;
– A reduced Portuguese income tax rate on returns when funds are withdrawn, provided the applicable holding-period rules are met.
More protection. Less risk.
Get a quote for your PPR Insurance
We’ll provide a free, no-obligation review of your insurance.
FAQs
How does a PPR Insurance plan work?
The policyholder makes regular or one-off contributions. The funds are invested according to the selected profile, and their value grows over time. Withdrawals can be made in accordance with the applicable legal conditions.
What are the benefits of PPR Insurance?
You may be able to deduct part of the amount invested from your Portuguese income tax, with the deduction varying according to age. Reduced taxation may also apply if the withdrawal meets the legal conditions.
Can I withdraw my PPR savings at any time?
Yes, but tax penalties may apply if the withdrawal does not meet the legal conditions. Talk to us.
Does a PPR replace the Social Security pension?
No. It is designed to supplement your retirement income.