Pensions Caixa 30 is the employment plan of CaixaBank. Established in 2000 covers the contingencies of retirement, disability and death, and serves as a complement of the public pension system.
The Fund is the largest pension fund in Spain with more than €6.1bn
It is a hybrid scheme.
The DB arrangement covers the contingencies of death and disability, accounts for 25% of the total portfolio and is insured by an inflation-linked insurance contract.
The DC arrangement covers the retirement contingencies, accounts for the remaining 75% of the portfolio invested with a single investment strategy highly diversified across asset classes.
The scheme has 32.180 active members, 11.075 beneficiaries and 4.314 inactive members.
The Board of trustees is the body responsible for overseeing the operations of the pension plan. It is composed of 15 members, 4 on behalf of the sponsor (CaixaBank) an 11 on behalf of the members and beneficiaries and are appointed by union agreement.
The Board of trustees has two subcommittees with delegated functions. On one hand the Governance Subcommittee, that deals with issues related to the fund mission and goals, organization and resources and SRI. On the other hand, the Investment Subcommittee, that deals with issues related to the fund investment strategy, portfolio construction and performance monitoring, including also the integration of ESG aspects to the investment processing.
The fund investments are managed by VidaCaxa S.A., an insurance company owned by CaixaBank, that acts as a fiduciary manager.
The depository is CecaBank S.A
Willis Towers Watson provides both investment and governance advisory service to both subcommittees