will Reduce from 1.5% to 1.25% maximum management fee
will Also lower by 0.25% 0.20% deposit
The Ministry of Economy prepare a royal decree to reduce management fees and deposit of pension plans and to grant liquidity to se plans from 2025 onwards with aim of improving appeal of such products to future pensioners.
In particular, department of Luis de Guindos will reduce from 1.5% to 1.25% maximum management fee, and 0.25% 0.20% deposit (amount charged by institution where y are deposited in money). The Executive also intends to begin to provide liquidity to plans from year 2025, at least for contributions made with a minimum of ten years from that date, and eliminate limits on amount, compared to 10,000 euros that mark limit of settlement present.
These measures are most relevant news of reform prepared by Government in coordination with Directorate General of Insurance and Pension Plans, and that has exposed this Wednesday at public consultation to expected arguments of interested parties.
Guidos explained that "it is good to limit" such commissions in current context of low interest rates and that idea of providing liquidity to plans "may make m more attractive".
The reform aims to address incidence of management costs and deposit on final return of plans and to improve it. However, in background of changes is idea to reinforce m as a product of investment in medium and long term for future generations, taking into account that y constitute a complementary alternative to public system of pensions.