In the case of EPSVs with preferential employment (Lagun Argo, Elkarkidetza and Geroa), the limit to collect them in one go is set at just over 36,000 euros. The new decision will come into effect on April 2.
The new decree regulating the Voluntary Pension Entities (EPSV), the Basque pension supplement system, will enter into force on April 2. It was announced by the Minister of Economy and Finance of the Basque Government, Pedro Azpiazu, during the meeting of the Basque Social Security Council, where the decree was ratified. For the time being, there are three preferred EPSVs in the Basque Country: Lagun Aro, Elkarkidetza (the one for civil servants) and Geroa in Gipuzkoa.
The new text will give priority to collecting benefits in the form of income, rather than collecting them all at once, to supplement the public social security pension. The threshold is established to determine the payment of the annuity benefit based on a range of pension amounts related to the minimum annual social security retirement pension at age 65. Payment in the form of income is also given priority, so that a single payment can only be allowed in exceptional cases, with a maximum of 36,166 euros. With these parameters, monthly pensions would amount to 200 euros in 12 payments over 15 years and 150 euros in 12 payments over 20 years.
In addition, the threshold for payment in the form of income is set at three times the minimum annual social security pension amount with a dependent spouse: 43,400 euros in 2024.
Furthermore, the confidential counselor reported on the agreement signed with the Chambers of Commerce of Euskadi to introduce a supplementary social security system for the group of self-employed people, whose pensions are lower than the benefits received by salaried employees.
Source: EITB
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