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The end of the year arrives and the bank manager calls you to "remind you" that there are only a few days left to create a private pension plan and thus "get a discount" on next year 's income tax
In general, only those people who make the IR declaration by the full model – which takes into account the deductions with dependents, the expenses of the taxpayer – education, health, among others – can actually take advantage of the tax benefit provided by the pension plan. private. To do this, they must opt for a free pension plan (PGBL) plan.
Those who have not submitted any application throughout the year will have to make a significant contribution the last days of the year if they want to enjoy the benefit. already entered in the declaration of the following year.
Differences between LLLs and LGBVs
LLLs can be used to derive social security investments at 12% of annual income from the calculation of the IR. However, when the funds are withdrawn, the PGBL plan will be subject to a withholding tax on the entire amount invested, namely contributions and income.
VGBL (Free Benefit Generator Life) deduction in the declaration but guarantees a lower tax at the time of the draw because the tax is levied only on income. Therefore, it is indicated for those who normally correspond to the simplified model of the declaration and wish to accumulate resources for retirement or for a long-term plan, such as the children's university.
"The idea of the PGBL is that the taxpayer the tax benefit of accumulating a larger pension amount for a longer period, taking advantage of the effect of interest on interest, the counterpart of that tax benefit consists of a larger withholding tax at the time of withdrawal. "
Table progressive and regressive
The private pension also benefits from another type of tax benefit, the regressive table. incidence of IR. The idea is that the investor stays as long as possible with the money used to pay less tax. On the other hand, whoever draws in the short term ends up being penalized by a higher rate of IR.
The regressive chart begins with an IR rate of 35% for applications submitted in the first two years and decreases by five points every two years.
Who does not know if he will be able to keep the money for all that time or will have to retire before the age of ten can opt for the progressive table, which corresponds to the rates normally applicable to wages, rent and other types of income
. In this system, a charge of 15% at the time of withdrawal from the pension plan is applied. Then, an adjustment is made to the next year's tax return, with a maximum rate of 27.5% on the income obtained in the pension plan.
The progressive and regressive tables are valid for PGBL and VGBL. The client who initiates a plan with the help of the progressive table can migrate to the regressive at any time, counting the tax reduction over 10 years from the time of migration. Whoever opts for the regressive table can not migrate to the progressive. In this case, you will need to create a new plan using the other table.
Comparing rates and benefiting from portability
As in the traditional investment fund market, banks have a wide variety of private pension funds. , brokerage firms and investment platforms. It is important to look for the types of funds offered, which may or may not mix the fixed income badets and variable income badets in your portfolio. In addition, examine the minimum value of the application and compare in particular the fees charged.
Most financial institutions abolished the imputation rate, which was applied in contributions or withdrawals from the plan. But it is still possible to find plans that charge these fees. So stay tuned and flee them.
What still prevails, it is the rate of administration. Rate the rate according to the type of fund application. Fixed income funds, which are more conservative, should not charge rates above 1% per year. More aggressive funds, with more active management and variable income, can charge between 2% and 3% per year
. If you already have a plan and are not satisfied, look for another financial institution and ask for the portability of resources. Simulation helps to choose the best plan
Simulations to define the best plan option for your case, VGBL or PGBL
BTG Pactual features a free simulator which even indicates if a private pension is a good deal for you or not. The simulator presents a questionnaire about their income, their life goals, their health and education expenses and the desired term for their retirement.
"Those who will establish a private pension should keep in mind that this is a long-term investment, ideally superior to" said Marcelo Flora, partner at BTG Pactual, head of the Life and Health sector. pension plans.
For whom the PGBL is better
In general, who has an income of more than R $ 84,000 a year (R $ 7,000 per month) is able to make the most of the tax benefit related to BMPs, even if it does not use other legal deductions.
This model uses a standard 20% reduction in income for the deduction of the tax base, but up to R $ 16,754.34. to this end. The 20% discount for those who earn R $ 84,000 a year would be R $ 16,800, very close to that limit.
Those earning less than R $ 84,000 a year must consider the use of other deductible IR expenses as dependents. , education or health costs, so that the declaration of the complete model is worthwhile. "The idea is simple: deductible expenses, including private pensions, must exceed the standard reduction of the simplified model, from R $ 16,754.34, to
For those with higher incomes, a private pension PGBL type is generally more beneficial from the point of view of tax reduction.
] The simulations performed by BTG Pactual show that for those who earn R $ 100,000 per year (R $ 8,333 per month ), the tax savings with the maximum allowable contribution of R $ 12,000 per year in RGP amount to R $ 3,300.
If income is R $ 140,000 per annum (11,666 R $ per month), when you apply 12% of income (R $ 16,800) in a LBPP, the deduction provided by the private partnership pension plan is R $ 4,620.
Leaving LGBT in the short term [19659005] Since the tax payable on redemption is higher, the LGBP will be profitable if you buy the investment. a few years after the start of the plan. Ideally, keep the requested LGBP as long as possible to fully utilize the tax benefit of Ir's returns during the period.
A simulation performed by BTG Pactual for a client with an annual income of $ 100,000 shows that if he has invested $ 12,000 in a 7% PGBL per year, he will have accumulated $ 12,840 R after one year and will have earned a tax gain of R $ 3,300 with pension deduction from the calculation basis of the IR calculation.
However, if the client decides to withdraw the entire accumulated amount after one year, he will have to pay a tax of R $ 3,531, calculated on the basis of the rate of 27.5% of the progressive amount. If we update the tax gain obtained in the tax return (R $ 3,300), the result will be negative R $ 23.
If, at the time of the creation of the plan, the client chose the regressive table, which rate is 35% in the first two years, the situation is even worse: he will pay R $ 4,494 in taxes it will withdraw everything in the first year, which will result in a net loss of R $ 1,194.
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