The pension 'piggy financial institution' exceeds 7,000 million euros, its highest stage since 2018 | Economy | EUROtoday

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The Social Security Reserve Fund, often known as the hucha of pensions, reached 7,022 million euros as of May 31, its highest stage since 2018, as reported this Monday by the Ministry of Inclusion, Social Security and Migration. The hucha of pensions, which ended 2023 with 5,578 million euros, has acquired contributions value 1,373 million euros to date this 12 months, due to the revenue offered by the Intergenerational Equity Mechanism (MEI), which got here into impact efficient in 2023.

The Reserve Fund is principally nourished by revenue from the MEI, a further contribution paid by employees and corporations and which injects about 300 million euros per 30 days into this piggy financial institution. According to the Ministry, the great progress of employment, which is inflicting contribution revenue to develop by double digits, will permit the Reserve Fund to exceed the 9,000 million euros that the Reserve Fund is predicted to obtain this 12 months.

Last Friday, a brand new assembly of the Reserve Fund Monitoring Commission was held, chaired by the Secretary of State for Social Security and Pensions, Borja Suárez. In addition to Suárez, the overall director of the General Treasury of Social Security, Andrés Harto, and the overall auditor, Sonia Pérez-Urría, had been current on the assembly. This fee can be made up of representatives of the Ministry of Economy, Commerce and Business and the Ministry of Finance, in addition to enterprise organizations (CEOE and Cepyme) and unions (UGT, CCOO, CIG and USO).

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