4. Contributions to corporate social security plans
The contributions made by workers to the corporate social security plans regulated in the first Additional Provision of the consolidated text of the Law on the Regulation of Pension Plans and Funds, approved by Royal Legislative Decree 1/2002, of November 29, relating to the protection of pension commitments with workers, including the contributions of the policyholder.
In any case, corporate social security plans must meet the following requirements :
The principles of non-discrimination, capitalization, irrevocability of contributions and attribution of rights established in article 5.1 of the consolidated text of the Law on the Regulation of Pension Plans and Funds must be applicable to this type of contract.
The policy will establish the premiums that the policyholder must pay, which will be charged to the insured.
The conditions of the policy must expressly and prominently state that it is a Corporate Social Security Plan, with this name being reserved for insurance contracts that meet the legally established requirements.
The contingencies covered must be only those provided for in article 8.6 of the consolidated text of the Law on the Regulation of Pension Plans and Funds (retirement, total and permanent work incapacity for the usual profession or absolute and permanent for all work, and the great disability; death and severe dependency or great dependency of the participant), and must have retirement coverage as its main coverage in the terms established in article 49.1 of the Personal Income Tax Regulations .
Advance provision, in whole or in part, will only be allowed in these contracts in the cases provided for in article 8.8 of the consolidated text of the Law on the Regulation of Pension Plans and Funds (long-term unemployment, serious illness and from 2025 by contributions 10 years old).
However, and in order to facilitate those affected by the volcanic eruption on the island of La Palma to meet unexpected liquidity needs, article 11 of Royal Decree-Law 20/2021, of October 5, by which Urgent support measures are adopted to repair the damage caused by the volcanic eruptions and for the economic and social reconstruction of the island of La Palma (BOE of October 6), has established, on an exceptional and exclusively during the period between October 6, 2021 and July 5, 2022 , the possibility that policyholders of corporate social security plans can dispose of their rights consolidated in these plans in advance in certain cases plans, setting the conditions and the maximum amount of the provision. The assumptions for early disposal of consolidated rights are discussed in this Chapter, within the common rules applicable to contributions to social security systems, in the section on " Early disposal of consolidated rights ".
Corporate social security plans will have to offer an interest guarantee and use actuarial techniques.