In this Legal Briefing, we will address the regulatory implementation of Law 12/2022, of 30 June, regulating the promotion of occupational pension plans (using the Spanish acronym, the “LRPE”) through Royal Decree 885/2022, of 18 October and Royal Decree 668/2023, of 18 July (“Royal Decree 885/2022” and “Royal Decree 668/2023”, respectively), which amend the Pension Plans and Funds Regulation, approved by Royal Decree 304/2004, of 20 February (the “Pension Plans and Funds Regulation”) and seek to establish a new legal framework to promote complementary pension systems. This follows the recommendations published by the European Insurance and Occupational Pensions Authority (“EIOPA”) in its technical advice to the European Commission within the framework of the review of Directive (EU) 2016/2341 of 14 December, on the activities and supervision of institutions for occupational retirement provision (the “IORP II Directive”).
You can read the full legal briefing here.