Employment plans have reached 2.7 million participants, which represents an increase of 42% compared to 1.9 million in September 2022, when the reform was approved to promote this retirement savings model promoted by the companies for their workers, by self-employed groups and in public administrations.
According to the latest data from Inverco, these plans, still a minority in Spain, added up to a volume of assets of 38,488 million until Septemberwhich represents an increase of 11.6% compared to the same period in 2022 with a special boost in the plans developed in construction and among the self-employed.
Only in the third quarter of the year, Inverco details, gross contributions to the employment system increased up to 331 million euros, 74 million more than the previous year.
Of them, 24.3 million corresponded to those carried out at simplified pension plan of construction, which already has assets of 115.7 million and 544,357 participants.
Despite this evolution, This savings model continues to be a minority in Spaina trend that the Government wanted to change with a reform promoted by the former Minister of Inclusion, Social Security and Migration, José Luis Escrivá, with two key elements.
On the one hand, the simplification of the employment plan model and, on the other, the implementation of the public promotion fundsan umbrella under which these types of plans can be accommodated with lower costs, but which is not yet taking off.
To finish promoting them, sources from the sector explain, this month technical improvements and issues related to the remuneration and compatibilities of the members of the so-called special control commission of these funds.
Once launched, each commission to control existing employment plans must decide whether or not to adhere to themrecall from VidaCaixa, one of the managers awarded one of the lots to manage them.
Volunteer in collective bargaining
The final objective of all these changes is to further promote this so-called second pillar of the pension system – the first is public pensions and the third is individual plans – which in other countries such as Holland or the United Kingdom is mandatory, that is, every organization You must provide an employment plan to your workers where goes a percentage of your salary.
In Spain, these plans are framed in collective bargaining, that is, in the conditions that each company or sector agrees with the representation of workers.
That voluntary nature and lack of additional incentivessuch as tax benefits, are hindering further development, as Miguel Menéndez, director of the social security area of Mercer Spain, explains to EFE.
“The fact that they are a suggestion within the framework of collective bargaining distorts them, “It should be an almost mandatory figure as it happens in other countries”Menéndez points out that he also appeals for the Government to set an example by promoting this figure more in the Public Administration.
Looking at collective bargaining, in 2023 pension plans or other related benefits were included with retirement in 155 agreements11.47% of the existing ones, which affect 432,447 workers, 11.54% of those covered by a collective agreement.
The number of benefited workers thus multiplied by more two during 2023 compared to the 183,281 that there were at the end of 2022 and which represented 6.63% of those covered by an agreement.
According to the statistics on collective agreements published by the Ministry of Labor, most of these plans were included in company agreements in 2023, although They only affected 48,161 employeeswhile those introduced in 28 higher-level agreements benefited 384,286 workers.
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