One of its main attractions is the tax benefits available under Personal Income Tax (IRPF). Annual contributions made to a pension plan directly reduce the taxable base of the tax, resulting in an immediate tax relief. It is important to keep in mind the legal contribution limits (currently set at €1,500 per year for individual pension plans), as they allow you to optimise your tax bill while building your retirement savings plan. See more in the article What is the tax deduction for a pension plan?
