A maximum management commission of 0.30% is set for the managing entities of the public promotion plans
MADRID, 18 Oct. (EUROPA PRESS) -
The Council of Ministers, at the proposal of the Ministry of Inclusion, Social Security and Migration, has approved this Tuesday a Royal Decree by which it reforms the regulation of pension plans and funds to promote employment pension plans.
Through this new rule, the institutional architecture of the publicly promoted employment pension funds (FPEPP) approved last June within the framework of the Law regulating the promotion of employment pension plans is developed, whose objective is is to facilitate the access of SME workers, public employees and self-employed workers to collective plans.
The Ministry of Inclusion has highlighted in a statement that the regulation approved today will allow said Law to fully deploy its effects in the coming months.
The regulation technically regulates the Promotion and Monitoring Commission, a collective body of a public nature, giving it a supervisory nature to be able to monitor and act in the event that anomalies occur in the management of publicly promoted employment pension funds, establishing a procedure to ensure its proper functioning.
The norm also regulates the regime for the constitution and operation of the other supervisory body of the employment pension funds and plans, the Special Control Commission, and stipulates the remuneration conditions of its members.
The regulation details the commissions that may be applied by the entities that deal with the management of the plans included in the publicly promoted employment pension funds, establishing a maximum management commission of 0.30%.
It is also provided that, exceptionally and linked to the expenses incurred when connecting to the Common Digital Platform, the managing entities may pass on these costs for a maximum period of five years.
Likewise, a system of maximum transparency is established in the direct and indirect expenses incurred by the management and depository entities in the quarterly and semi-annual reports.
In addition, with the rule approved this Tuesday, it will be possible to proceed with the selection of the members of the Promotion and Monitoring Commission, the design and implementation of the Common Digital Platform and open the selection process of managing entities and depositaries.