The pension fund does not have any employees as it does not have a legal form, instead it acts as an investment vehicle. In order to deal with its lack of a legal form, the Pension Fund is managed by Santander Pensiones SA, SGFP, and Santander Securities Services SA acts as the custodian. The pension fund does have a governance organ (the control commission), whose main function is to supervise its appropriate functioning and to safeguard the interests of the fund's participants and beneficiaries.