So far this year, the ‘pension piggy bank’ has received contributions worth 1,373 million euros, thanks to the Intergenerational Equity Mechanism, which came into force in 2023.

Meeting of the Monitoring Committee, chaired by the Secretary of State for Social Security and Pensions, Borja Suárez.Meeting of the Monitoring Committee, chaired by the Secretary of State for Social Security and Pensions, Borja Suárez.

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The Social Security Reserve Fund exceeds 7 billion euros

The Social Security Reserve Fund reached 7,022 million euros on 31 May, the highest level since 2018, as was revealed last Friday at the 29th meeting of the Monitoring Commission, chaired by the Secretary of State for Social Security and Pensions, Borja Suárez.

The so-called ‘pension piggy bank’, which ended 2023 with 5,578 million euros, has received contributions worth 1,373 million euros so far this year, thanks to the Intergenerational Equity Mechanism, which came into force in 2023.

In addition to Suárez, also present at the meeting on behalf of the Ministry of Inclusion, Social Security and Migration were the director general of the Social Security General Treasury, Andrés Harto, and the auditor general, Sonia Pérez-Urría.

This commission is also composed of representatives from the Ministry of Economy, Trade and Enterprise and the Ministry of Finance, as well as from the employers’ organisations (CEOE and Cepyme) and the trade unions (UGT, CCOO, CIG and USO