On August 1, 2014, the Government has approved the Royal Decree 681/2014 which modifies the Regulation of Pension Plans and Funds, approved by Royal Decree 304/2004, of February 20, the Regulation on the implementation of pension commitments of companies with workers and beneficiaries, approved by Royal Decree 1588/1999, of October 15, the Regulations for the Management and Supervision of Private Insurance, approved by Royal Decree 2486/1998, of November 20, and Royal Decree 764/2010, of June 11 , which develops Law 26/2006, of July 17, on Mediation of Private Insurance and Reinsurance in matters of statistical-accounting and business information, and professional competence.

At S&C Abogados, we offer advice to the Company on the position and rights of the promoter in the pension plans or in those complementary social security systems that it has established or plans to implement. Likewise, the employees who are owners or beneficiaries, where appropriate, of social welfare systems existing in their company will be advised.