The government has announced that the final process of registration and implementation of the 15 publicly supported pension funds for employees will soon be completed in order to begin this new instrument.
The Deputy Director General for the Promotion of Employment Pension Funds of the Ministry of Inclusion, Jana Isabel Calvo, explained at an event in Madrid that of the 15 funds created, 11 are already registered in the commercial register and only 4 remain to be registered.
From there, he explained, they must be forwarded to the General Directorate of Insurance for inclusion in the special register of pension funds.
“This process is imminent,” Calvo said, adding that the tools to get started are already in place and must now be promoted to achieve the goal of having half of the working population enrolled in some form by 2030. of collective pensions according to this model.
A goal highlighted by professor of labor law and advisor to the country’s main funds, Gabriel García Becedas, can only be achieved if employers, unions and the State commit themselves by setting an example with plans of this type.
The government says state pension schemes, which have not been recognized until now, are a “privilege” for two million people
Now, he explained, these plans are a “privilege” for two million people and to make them a right for the majority of workers, “it is not enough to have the instrument, there must be a will.”
For García Becedas, we will have to wait at least a few years to see how they develop and it will be crucial for the State to lead by example and implement the public sector plans assigned to these funds.
In July, the Social Security commissioned VidaCaixa, BBVA, Caser, Santander and Ibercaja to manage the publicly supported employment pension funds, which are expected to be operational before the end of the year and will reduce pension plan commissions. Collectives for workers.
The employment plan is the sectoral collective agreement that determines what part of workers’ compensation is paid into a private pension fund that supplements their state pension when they retire.
Publicly supported employment pension funds are the vehicle through which workers’ money is invested. In reality they are not public but private, although they are promoted and monitored by the state, with the participation of business and trade union organizations in a control commission.