THE ESSENTIALS
Before you start
- A formal transfer takes place directly between providers.
- Contribution amounts and dates should accompany the operation.
- A transfer does not itself create a new tax benefit.
The law sets out the transfer route
Article 6 of Decree-Law 158/2002 allows full or partial direct provider transfers carrying contribution amounts, dates and accrued returns. It creates no new tax benefit. Execution is due within 10 working days of the request; general rules prohibit transfer fees without capital/return guarantees and cap them at 0.5% where a guarantee exists.
The destination proposal precedes completion
Henrique distinguishes wanting to move from the destination provider’s willingness to receive the transfer. Clara suggests keeping the proposal and identifying the source, destination and portion to transfer. Advertising or a quotation does not establish acceptance and completion.
Ask for the procedure, required information and request-receipt date relevant to the deadline. Keep the reference and execution notice. For any stated fee, request its basis and applied amount. Comparing only the transfer percentage does not describe all costs of the new plan.
History is more than a balance
Check the contribution amounts and dates accompanying the value. One current balance line may be insufficient to clarify the origin of different portions. For a partial transfer, ask for records distinguishing what left and what remained.
Preserving history is a different question from withdrawing money without consequences. Before a future withdrawal, check requirements applying to the circumstances and contributions. This guide determines neither individual tax benefits, an exemption nor the best destination for savings.
Compare the arrangement before instructing the transfer
Clara suggests comparing guarantees, risk, costs, access and intended use horizon. Past returns do not settle those choices. If documents use different labels for arrangements, ask about the plan’s nature instead of assuming they work alike.
To analyse an insurance-based arrangement, select Life Financial Products on the website and explain the objective. RMACHADO does not execute a transfer from this article or treat a quotation request as a contractual instruction. Share financial records only through the indicated channel.
KEEP THESE QUESTIONS
Your checklist for the next conversation
- Establish whether a formal full or partial transfer is intended.
- Confirm the destination proposal and willingness to receive it.
- Check fees, deadlines and contribution history.
- Compare risk, guarantees and costs before giving an instruction.
FROM THE ARTICLE TO YOUR SITUATION
Let us discuss your situation
Tell us what you want to protect. We review your request and help compare relevant terms. Requesting a quotation does not activate insurance.
Sources and transparency
Content updated on .
Consultation dates are stated in individual references when available.
Numerical examples are fictional and explain concepts. Editorial interpretations are identified in the text.
Information from RMACHADO GROUP. This is not an insurance offer or individual advice. Covers, acceptance, exclusions, sums insured and costs depend on the policy. The intermediary does not underwrite the risks.