Modification of the Specifications of the CaixaBank S.A. Employment Pension Plan (EPP).
The EPP Control Committee on Friday 6 May incorporated the modification of the Specifications derived from the signing of the Labour Agreement on the same day, 6 May, between CaixaBank and labour representatives in order to allow access to the advance payment of the EPP retirement benefit to the groups of people indicated in the Agreement, people who terminated their employment relationship through the Collective Dismissal by Labour Agreement (DCAL) process.
Under the previous SPP Specifications, only Suspended Participants were eligible for an advance retirement benefit if they had left the company through a DCAL process. From the various processes at CaixaBank and at the companies involved in the group’s corporate operations, there are two situations in the MPE:
- Affected by DCAL processes without EPP contributions: Suspended EPP participants who can (and could) anticipate the retirement benefit.
- Affected by DCAL processes with contributions to the MPE: MPE participants who are NOT able to anticipate the retirement benefit.
The Labour Agreement signed provides that the groups of people affected by a DCAL related to the aforementioned Agreement who receive contributions to the PPE may request CaixaBank to advance a single contribution equivalent to 90% of the outstanding contributions for retirement, becoming a Suspended Participant and requesting the advance of the retirement benefit.
The new status of Suspended Member will entail the loss of the risk cover provided for in the SPP Specifications (death and disability of the Member).
How to process the request for outstanding contributions?
- The advance payment of the outstanding retirement contributions shall be requested at the Office of the Participant by completing the document approved in the Labour Agreement of 6 May (available at www.fpecaixa.info apartado /Documentos/Formularios para Trámites).
- After verifying the requirements, CaixaBank will make the single retirement contribution no later than the last two working days of the month following receipt of the request at the Participant’s branch.
- The amount of this contribution shall be equal to 90% of the sum of outstanding pension contributions, without taking into account or applying future revaluations that may be established in the original agreements.
- Once the single contribution has been made, the Suspended Participant shall request, within a maximum period of seven calendar days, the advance payment of the retirement benefit.
Further queries can be addressed to the Office of the Participant:
tel. 93.404.1647
Comisión de Control PC30 y Plan de Pensiones de Empleo de CaixaBank, S.A.
Barcelona. May 2016.