The government will launch its public pension fund before June

The Ministry of Social Security will launch before next June a public fund addressed to all salaried and self-employed workers with which it ensures that it wil

The government will launch its public pension fund before June

The Ministry of Social Security will launch before next June a public fund addressed to all salaried and self-employed workers with which it ensures that it will offer a option of supplementary savings to pensions, "cheap and that will be a deferred salary."

In the opinion of Minister José Luis Escrivá, the potential of this product to expand is extraordinary. The maximum limit of contributions will be 8,500 euros a year, which added to the limit of 1,500 euros of the individual plans give a stop of 10,000 euros per year.

Escrivá has indicated that employment plans such as the one approved have not grown in Spain in recent years due, among other reasons, to the fact that the tax benefits of this savings formula were oriented to individual pension plans, "aimed at High or very high income ". From the hand of Escrivá and the Minister of Finance, María Jesús Montero, the maximum contributions that can be accommodated to tax benefits in these individual plans have been reduced to 1,500 euros.

The new Fund will be governed by a Council in which members of the Administration, entrepreneurs and unions will participate. Its investment policy will focus on "financially sustainable" options, without more details. Escrivá has not detailed either what evolution projects for the heritage of this fund or what number of participants foreseen.

Updated Date: 25 November 2021, 01:34

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