The Ministry of Social Security will launch before next June a public fund
aimed at all salaried and self-employed workers
with which it ensures that it will offer a savings option complementary to pensions, "cheap and that will mean a deferred salary."
In the opinion of Minister
José Luis Escrivá
, the potential of this product to expand is extraordinary.
The maximum contribution limit will be 8,500 euros per year, which added to the 1,500 euro limit for individual plans gives a limit of 10,000 euros per year.
Escrivá has pointed out that employment plans such as the one to be 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 aimed at 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 benefited from 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, employers and unions will participate
.
Your investment policy will focus on "financially sustainable" options, without further details.
Escrivá has also not detailed what evolution it projects for the equity of this fund or what number of participants it anticipates.
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Maria Jesus Montero
Social Security
Jose Luis Escrivá
Spain
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