The publicly promoted macro employment pension fund launched by the Minister of Inclusion, Social Security and Migration, José Luis Escrivá, for the self-employed, SMEs and the public sector, has met one of the last requirements before being operational: the election of the 13 members of the Special Control Commission, which will be in charge of “supervising all open publicly promoted employment pension funds,” according to the regulations of this controlling body. The professionals who make up this commission have had to be previously evaluated and accepted by the Promotion and Monitoring Commission, the other managing body of the macrofund.
These are five professionals with a purely technical and financial profile, knowledgeable in the pension funds and plans sector from different areas that have been proposed by the Ministry of Inclusion and another eight contributed by the employers’ and union organizations (four from each social agent), whose profiles are generally less specialized in the social security market.
Although, all of them have passed the corresponding evaluation of the Promotion Commission to verify if, according to the latest ministerial order that regulates this macro fund, they have “at least five years of professional experience in the management of funds or pension plans or in other related activities that guarantee sufficient knowledge, supervision and management capacity, in addition to not incurring incompatibilities or situations of conflicts of interest.” The regime of incompatibilities will be established by regulation later and will determine with what activities they may or may not combine their membership in this organization.
Based on all this, these are the 13 professionals chosen:
At the proposal of the Ministry of Inclusion, Social Security and Migration:
- Rocío Eguiraun Montes, former CEO and former president of Bankia Pensiones EGFP and Bankia Fondos SGIIC. She has extensive experience in financial asset management. The board member was responsible for Bankia’s investment fund manager (before its integration into CaixaBank), where she supervised financial vehicles with assets of more than 10,000 million euros. She also ran the pension plan manager. Before she worked in private banking, at Banco Urquijo and the American bank Citi.
- Lorenzo Esteban Jódar, former deputy general director of Pension Plans and Funds in the General Directorate of Insurance and Pension Funds.
- Francisco Javier Garayoa Arruti, former general director of Spainsif. An expert in sustainable finance, he is the head of the Spainsif association, which brings together all agents involved in investments with a socially responsible perspective.
- Xabier Ibars, former deputy financial director at Nestlé Spain.
- Virginia Oregui Navarrete, former general manager of GEROA PENTSIOAK EPSV. Its about Alma mater of one of the most important and successful social security entities in the Basque Country, Geroa, where she was the top manager for 27 years, until she retired at the beginning of 2023. There she led 23 professionals in charge of managing the pensions of 8,500 Basque companies. small and medium-sized, with an aggregate equity of more than 2.5 billion euros. Precisely the purpose of the new regulation is that SMEs and the self-employed can join the 15 new public promotion funds, which will be managed by the large banks (CaixaBank, Santander, BBVA, Ibercaja) and the insurance company Caser, in collaboration with Indexa Capital. Her voice was one of those heard at the Toledo Pact, in 2017, where she stressed that the Geroa model was perfectly replicable throughout Spain.
At the proposal of the most representative union organizations:
- Luis Pérez Capitán, Inspector of Labor and Social Security, director of the UGT Studies Service.
- Cristina Antoñanzas Peñalva, deputy secretary general of UGT and member of the European Collective Negotiation Committee representing the European Women’s Committee.
- Víctor Raúl Olmos Mata, part of the Pension Plans and Funds team of the CC OO Trade Union Confederation since 2000 and currently in the organization’s Trade Union Action team.
- Paloma Fernández Álvarez, head of the Pension Plans and Funds Area of CC OO in Catalonia.
The members of the Special Control Commission appointed at the proposal of the most representative business organizations are:
- José Alberto González-Ruiz Martínez, general secretary of CEOE and former CEO of the State Society for Transition to the Euro
- Luis Aribayos Mínguez, general secretary of CEPYME and member of the Science, Technology and Innovation Advisory Council of the Ministry of Science and Innovation
- Rosa Santos Fernández, director of the Department of Employment, Diversity and Social Protection of CEOE and former secretary general of the Confederation of Businessmen of Aragon. She is in charge of leading, on behalf of the employers, all social dialogue negotiations on employment and pensions.
- Mª del Carmen Alsina Arízaga, director of Communication, Sustainability and Institutional Relations of CEOE and former councilor of Finance and Public Administration of the Gijón City Council.
These 13 members, unlike the members of the control commissions of private employment plans, will be paid. They must meet monthly, quarterly and annually to supervise all fund plans; and, for attending these meetings, each of them will receive a basic remuneration of 3,375 gross euros per month in twelve payments, which will mean annual payments of 40,500 gross euros. Furthermore, for each additional extraordinary meeting they attend (with a maximum of 22 per year) they will receive an “additional remuneration” that will range between 1,390 and 1,668, depending on the total amount managed. All these payments will be activated as soon as the fund has at least 1.5 billion assets.
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