Business and union organizations may directly receive the remunerations received by the members of the Special Control Commission of the public pension fund articulated by the previous Minister of Social Security, José Luis Escrivá, as part of the reform approved between the years 2021 and 2023. This measure, to eliminate the nominalism of the remunerations assigned for attendance at meetings of the body in charge of supervising the evolution of the employment pension plans inserted in this financial vehicle of public promotion and private management was one of the demands of business organizations, CEOE and Cepymeand unions, UGT and CC.OO.so that these meetings could begin to take place, a necessary condition to also launch the public fund since among other powers, the Commission is entrusted with the task of approving the entry of employment plans that companies articulate on a sectoral basis, or through professional associations, and even the savings from the plans of Administration officials.
Thus, Social Security has finally approved the review of the ministerial order of November 2, 2023 which established the procedure for determining the remuneration of the members of the Special Control Commission composed of thirteen people – five appointed at the proposal of the Ministry of Inclusion, Social Security and Migration, four at the proposal of the union organizations with the most representation, UGT and CC.OO. and another four at the proposal of the most representative business organizations, CEOE and Cepyme – through a royal decree will be in force from October 24. And in which, among other points, it modifies the wording of the article 3 for that the established remunerations are not nominative in nature.
“In the event that it is a member proposed by a more representative trade union or business organization, it may receive the remuneration directly instead of the member himself,” the new wording states. In which it is also clarified that the most representative union or business organization must previously communicate this decision to the Promotion and Monitoring Commission, accompanying a agreement signed by both partieswhich highlights the terms and conditions under which the remuneration will be received by the corresponding union or business organization.
Collection from 1,000 million
Of course, the text clarifies regarding the operation of the Control Commission that the remuneration of the members will be charged to the assets under management of the public fund, as long as this exceeds 1,000 million euros. “Members will only have the right to remuneration linked to attendance at meetings, from the moment in which the joint assets of said funds reach the amount of one billion euros and as long as this amount is maintained,” he points out.
This aspect is about which the Government has ignored the demands of business and union organizations, which They demanded that Social Security allocate a budget item specific to cover remunerations so that they are not charged on the savings deposited in the simplified employment pension plans that can enter the public fund – among the 15 plans that have already been articulated by the five private managers that will market the savings products (VidaCaixa, BBVA, Caser, Santander and Ibercaja), which already have the conditions files presented.
Sources close to the Control Commission point out that this burden of remuneration on the managed assets represents one more disincentive so that companies decide to articulate employment plans for the public pension fund. In fact, simplified employment plans that make the adhesion of companies and the self-employed to these savings products more flexible have been well received in the market, but they have been incorporated into purely private funds.
However, after the first meetings of the thirteen members of the Commission at the end of 2023, when the starting signal had been officially given to the complementary savings device created in the Escrivá pension reform, they were paralyzed by claims of the representatives of social dialogue to review that order that governed the remuneration regime. With this modification, Social Security sources assure that the conditions are in place for regular meetings to begin which would ultimately begin to feed employment plans into the public fund. Although, as sources from the managing entities consulted by ABC acknowledged, there is still no evidence of candidates to incorporate savings plans.
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