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Claim PIAS

Since 1925

Díaz-Saavedra & Yánez Abogados
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Díaz-Saavedra & Yánez Abogados

Did you take out a PIAS as a safe investment option and now find that you cannot recover your investment?

At Díaz-Saavedra & Yánez Abogados, we offer a personalised legal advisory service for individuals who purchased a PIAS (Individual Systematic Savings Plan) without having received clear, complete, and understandable information about its true characteristics, associated risks, or long-term implications. In many cases, this type of product was presented as a safe savings solution, when in reality its profitability depends on the performance of complex financial products and does not guarantee the full return of the invested capital.

If you signed a PIAS contract relying on the information provided to you and later discovered unclear clauses, restrictions on accessing your money, or unexpected penalties, you may have grounds for a legal claim. Our legal team can help assess whether there was a lack of information, insufficient transparency, or whether the product was unsuitable for your consumer profile, which could provide a solid basis for pursuing legal action.

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We assess your situation and provide legal guidance

In recent months, multiple cases have emerged involving individuals who signed PIAS agreements with entities such as OVB Allfinanz, FWU Forward You, and other intermediaries, and who are now questioning the validity of the product. At Díaz-Saavedra & Yánez Abogados, we place our legal expertise at your disposal to assess whether there may be grounds for a potential claim.

Our legal approach includes:

  • Individual assessment of your case
  • Legal advice throughout every stage of the process
  • Legal representation before financial institutions or courts, where appropriate

What is a PIAS and why might you be able to make a claim?

A PIAS (Individual Systematic Savings Plan) is a long-term financial product that combines life insurance with a periodic savings scheme. Although it was often presented as a safe alternative with tax advantages, the reality is that its profitability depends on the performance of complex financial products and does not guarantee the full return of the capital invested. In addition, many PIAS products include unclear conditions, high fees, and significant penalties in the event of early withdrawal.

These products have become the subject of controversy because, in many cases, they were marketed without properly explaining their risks, operation, or associated costs. Many affected individuals signed the contracts without fully understanding what they were agreeing to, relying on promises of security or profitability that were not properly documented. In situations like these, there may have been a defect in consent or a breach of the duty to provide information on the part of the intermediary or insurance company, which could open the door to exploring legal avenues to recover the amounts invested.

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Recent Case Law on PIAS Claims

Claims relating to PIAS products are now supported by established court rulings. A judgment delivered in 2024 by the Provincial Court of Madrid has opened a legal pathway for claiming against these types of products when they have been mis-sold or presented without sufficient transparency. Below is a summary of the most relevant aspects.

Key Judgment

In September 2024, the Provincial Court of Madrid annulled several unit-linked insurance contracts, including a PIAS issued by Forward You (FWU) and intermediated by OVB. The court ruled that the client had not been provided with the necessary information to fully understand the product being contracted.

Legal Grounds

The judgment recognises the lack of clear, sufficient, and understandable information, as well as the absence of a prior assessment of the client’s financial profile. These shortcomings breach the legal duties of transparency and financial advice required of financial intermediaries.

Legal Implications

As a result of this ruling, it may be possible to take legal action directly against the intermediary, without the need for the insurer to respond first. This allows affected individuals to claim back their contributions, legal interest, and other costs arising from the contract.

Legal Significance

This judicial decision sets an important precedent for individuals who entered into similar products without fully understanding their terms and conditions. If your situation is comparable, you may be in a favourable legal position to seek recovery of your investment.

How do we help you at Díaz-Saavedra & Yánez Abogados claim your PIAS?

At Díaz-Saavedra & Yánez Abogados, we support you throughout the entire PIAS claims process, with a clear, professional legal approach tailored to your situation. We have a team specialised in complex financial products that will analyse your case with rigour and transparency.

Our step-by-step process:

  • Initial contact via form, email, or phone call
  • Collection of documentation, including the PIAS contract and related communications
  • Personalised legal analysis carried out by our legal team
  • Assessment of viable legal actions, whether out-of-court or judicial
  • Ongoing legal support if you decide to proceed

Nationwide Service Across Spain

We work remotely and efficiently with clients throughout Spain. No matter where you contracted your PIAS, you will receive close, professional assistance without the need to travel.

 
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100 Years of Experience

With more than 100 years of experience, Díaz-Saavedra & Yánez Abogados has built extensive knowledge and a solid track record in the legal sector, providing effective solutions to our clients since 1925.

Successful Cases

Honesty

Professional Lawyers

Conflict Resolution

Why Choose Díaz-Saavedra & Yánez Abogados ?

Discover the reasons to trust Díaz-Saavedra & Yánez Abogados: experience, commitment, and exceptional results in every case.

01.
Privacy

We guarantee complete confidentiality in every case we handle.

04.
Legal Protection

We provide strong legal protection in every situation.

02.
Personalised Approach

Each case receives an individual and tailored approach, prioritising your specific needs.

05.
Honesty

Our commitment is based on complete honesty in every interaction and piece of legal advice.

03.
Proven Successful Cases

A demonstrated track record of successfully resolved cases.

06.
Commitment

Full dedication to protecting and defending your legal interests.

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What Our Clients Say

At Díaz-Saavedra & Yánez Abogados, we always provide a service fully tailored to the needs of each client because we have a deep understanding of every sector in which we operate. This approach to legal advice allows us to build and maintain strong, long-lasting relationships with our clients.

Laura Almánzar
    Laura Almánzar

    A team of professionals that I 100% recommend. They have been involved from the very beginning in every process we have carried out. Our trusted lawyers for more than 10 years.

    Pablo Javier Rodriguez Sanchez
      Pablo Javier Rodriguez Sanchez

      A trustworthy law firm, highly professional and with excellent client care. Without a doubt, I recommend them. Whenever I have needed them, they have been highly effective and solution-oriented. It is reassuring to have lawyers like these.

      Carlos Santana
        Carlos Santana

        Excellent professional. Very approachable and compassionate service. In our case, it was Adrián Díaz-Saavedra Morales who assisted us, and from the very first moment he inspired confidence — and we were not mistaken. Thank you for giving us hope again and the opportunity to start living anew.

        Oliver Deniz Perdomo
          Oliver Deniz Perdomo

          Great professionals. In this case, Adrián Jr. is literally saving our lives thanks to his dedication and support at every stage of the process. Our family now lives with much greater peace of mind, and we are eternally grateful. THANK YOU SO VERY MUCH.

          Krishna Mishra
            Krishna Mishra

            Excellent service, highly professional and approachable. They explain everything very clearly and in easy-to-understand language, and they are always available when needed. That is why I always recommend them to friends and acquaintances.

            Frequently Asked Questions

            More Information About PIAS

            Find answers to your questions about PIAS claims in our FAQ section. At Díaz-Saavedra & Yánez Abogados, we are here to help you.