Pension and Retirement in San Marino

San Marino's retirement system is built around the SSD (Istituto per la Sicurezza Sociale) social security system, supplemented by private pension arrangements. This guide covers the tax treatment of pension contributions, benefits, and retirement planning.

SSD Social Security System

Contributions

Contributions to the SSD are mandatory for all employed individuals:

State Pension Benefits

State pension benefits from the SSD are generally taxable as ordinary income:

Private Pension Plans

Qualified Retirement Plans

San Marino allows tax-favored treatment for approved private pension plans:

Non-Qualified Plans

Contributions to non-approved plans are made with after-tax dollars, but investment growth may be taxed on an accrual basis.

Retirement Income Taxation

State Pensions (SSD)

SSD retirement pensions are taxable as ordinary income at progressive PIT rates (0-35%).

Private Pensions

Withdrawals from qualified retirement plans are taxed as ordinary income at progressive PIT rates.

Tax Planning for Retirement

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