For accounting purposes, long-term remuneration to staff is supplementary pension benefits to those of the public system, with respect to the time at which the service is provided by their administrators. The pension commitments assumed by the companies in favor of their directors are long-term remuneration and the income and […]

There are various products in the financial and insurance market with attractive trade names, to include the classic annuities. We, the actuaries, can assess the monthly amount that a person can charge if they live and by paying their corresponding premium. Or, in other words, from the initial amount of […]

Life expectancy is the years that a person can expect to live if the circumstances of mortality remain the same. Fortunately, life expectancy estimates have been less than the real years that people live. The better understanding of the longevity of populations by actuaries has made it possible to incorporate […]

The Governor of the Bank of Spain explained last September 17, at the Barcelona IESE Business School, the new monetary policy strategy of the European Central Bank (ECB). The new strategy was published by the Governing Council of the ECB on July 8, ant it considers that the best way […]

Participation in the program Ecònomix in Ràdio 4: The Pension system, is sustainable? Start 09:15’ Listen here

The European Commission announced the initial approval of € 69,500 million Aid Plan for Spain on June 16. The Plan is made to reinforce economic and social resilience in Spain, after the crisis experienced caused by the pandemic. The study and work proposals that the Spanish Government presented to the […]

Business Social Security Plans (BSSP) are a type of insurance contracts, by which the company implements its pension commitments in favor of its workers with the insurer. The BSSP is the great unknown in Spain. The product is very similar to the Employment Pension Plan, with the same contingencies being […]

The Principles of European Contract Law offer a unitary and harmonized set of means of protection to the creditor for breaches of the contract by the debtor, which are decisive for professionals in valuations within the framework of the quantification of compensation for damages. It´s necessary to work with great […]

In Spain, the consume represents almost 57% of the Gross Domestic Product. The Spanish economy, as it is predominant in most Western countries, favors the well-being of its citizens through the consume thay make. The drops in the months of strict confinement by Covid, in March and April 2020, were […]

The changes in the limits for contributions to pension plans in Spain may be good news, despite the reductions in their tax benefits, if initiatives such as the one promoted by Banca March, together with others, reach more decision centers within business organizations. The insurance and banking sector begins to […]

Finally, the General Management of Taxes (DGT) has issued a binding answer to the question raised by the maximum reduction limits in the tax base of the Tax for contributions to pension plans, and similar instruments. The general opinion in the industry is that the answer is not understandable enough, […]

The lack of financial culture in Spain is evident. You just must look at the published savings and investment studies in the country. Investment continues to be predominant in real estate assets and bank deposits, the first, of limited liquidity, and the second, of almost zero profitability. Safety is the […]

Surprisingly, the interpretation that one Pension Fund has made, at least, of the modifications contained in the General State Budget Law for the year 2021, in relation to the new contribution limits to pension plans, has been restrictive. Textually, the Law says business contributions, not contributions from the promoter, and […]

The changes in the taxation of pension plans have been approved in the Law of General State Budgets and in order to correct the excess of commission of individual pension plans. According to a study by the Ministry of Mr. Escrivá and his explanations in professional forums, the managers of […]