Almost 10,000 million euros is the patrimonial volume that the pension plans of the individual system have stopped receiving since 2021, when the first reduction to the limit of contributions to these investment vehicles framed in the project of the former Minister of Security Social and current president of the Bank of Spain, José Luis Escrivá, to boost employment plans.
That year the Maximum contribution limit was reduced from 8,000 to 2,000 euros suddenly, a level that would be reduced to 1,500 euros from the following year. Since then, individual plans have only increased their assets thanks to the revaluation of the markets. Last year it closed at 92,242 million, 8.6% more than in 2023.
In 2021 they had to deal They have not compensating for falls in gross contributions. The volume of benefits, which has remained above 2,300 million euros in the last two years, has favored this patrimonial mismatch.
From Inverco they estimate that, if the limit to contributions is maintained, Individual pension plans will lose 2.7 billion euros annually In gross contributions, an amount that from the Association of Managers do not know how to specify where these years have been directed, despite growth in very conservative profile investment funds.
Regarding employment plans, only the launch of simplified products, such as construction, helped to end last year with net captures for the first time in thirteen years, although for a value of 170 million euros, in a Moment when public promotion plans do not end up, so from Inverco they reiterate the need for collective agreements to be mandatory to discuss their implementation, which would not mean finally.
“The key is collective bargaining for employment plans to work,” said José González, president of the Inverco pension fund group, during a meeting with media.
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