MADRID, 20 Jul. (EUROPA PRESS) –
The royal decree that completes the regulatory development of the Employment Pension Plans Law and establishes an updated regulatory framework that aims to promote savings linked to the workplace for all workers will come into force this Friday after its publication in the Official State Gazette (BOE).
The royal decree establishes, firstly, the basic elements for the constitution and operation of the new publicly promoted employment pension funds open. Specifically, the characteristics and functionalities of the common digital platform are included, through which all the operations and communication between promoters and participants will be carried out and which will also offer general information for all entities and citizens.
This platform, which will be launched shortly, will be an essential tool for shareholders to have access to all the relevant information in an accessible and transparent manner at all times.
Secondly, the regulation of simplified employment pension plans is completed for their rapid promotion and formalization and their integration into pension funds in an agile manner, both publicly promoted and privately promoted, promoting digitization in all processes.
Workers from companies with sectoral agreements, public employees, self-employed workers and members of associations, federations and cooperatives can benefit from this type of plans.
The regulation establishes the procedure for integrating the simplified pension plans into the new publicly promoted pension funds or into other already existing pension funds. Likewise, the Royal Decree establishes the identification and delimitation of the promoters, as well as the information to be provided to participants and beneficiaries, aspects related to the mobilization of the rights of the participants and beneficiaries and the specification of the functions of the Special Control Commissions. .
Access to these instruments is also extended to all workers, with the reduction of the period from two years to a maximum of one month for a worker to join the employment pension plan
Additionally, the investment regime of pension funds is updated, reinforcing the policies of involvement of pension funds as institutional investors: investments in collective investment institutions, venture capital and entrepreneurship are facilitated.
The investment assessment criteria are also updated and investment criteria related to the life cycle of the participants are introduced, making it easier to vary the distribution of investments based on the age of the participants.
Finally, the economic regime for contributions to pension plans is improved, allowing the participant to continue making contributions in cases of partial retirement. It also makes it possible for savers to benefit from contributions made by companies through commercial programs or sponsorship campaigns, putting into practice one of the innovation proposals resulting from the financial sandbox.
