The Minister for Inclusion, Social Security and Migration, José Luis Escrivá, and the General Secretaries of the CCOO and UGT, Unai Sordo and Pepe Álvarez, respectively, will be in a comparison this Wednesday, at 1:30 p.m., to explain the agreement reached by both parties to undertake the second phase of the pension reform.

This appearance, which will be held at the Ministry, will take place after the meeting that the CCOO and UGT management bodies are holding from 11:00 today to analyze the agreement with the Ministry and give its final approval.

This second leg of the pension reform will not have the support of CEOE and Cepyme, which did sign the first phase of the reform, in which the revaluation of pensions with the CPI was guaranteed.

What the employers did not support and still does not support was the Intergenerational Equity Mechanism (MEI) that was developed a posteriori because it implied an overprice of 0.6% from 2023 to 2032, assumed for the most part by the companies.

Now, the CEOE has also said ‘no’ to the second leg of the pension reform, which precisely doubles the overvaluation of the MEI to 1.2% in 2029, at a rate of one tenth per year, with the company taking charge of the 1% and the worker, 0.2%. From 2030 to 2050, this same percentage of 1.2% will be maintained, with equal distribution between employer and worker.

The employers justify their rejection of the reform in their “collection voracity”, because they consider that it puts the measures to increase the system’s income on the backs of companies and also workers.