This Pension Plan, entitled the “Pension Plan for the Staff of the University of Valencia”, is established for the purpose of creating a system of supplementary social benefits. It defines the right of the persons in whose favour it is established to receive financial benefits in the event of permanent incapacity, dependency, retirement and death, the obligations to make contributions thereto, and the rules governing the establishment and operation of the assets that must be allocated to the fulfilment of the rights it recognises.

It is the body responsible for overseeing the operation and implementation of the pension plan and shall be composed of representatives of the sponsoring entity and the plan members.

Total permanent incapacity for the usual occupation, absolute permanent incapacity for any work, and severe disability, dependency, retirement and death.

The contributions made by the University of Valencia from 2022 onwards (inclusive) shall be those established in the University’s annual budget and must, in all cases, comply with the applicable percentages in accordance with the provisions set out in the corresponding General State Budget Laws.

They are the natural persons in whose interest the Plan is established, regardless of whether or not they make contributions. Any employee of the University of Valencia who has completed one month of full-time service, or the equivalent period of continuous or accumulated service, may become a member of the Plan and may join it under the terms stipulated in these specifications.

Plan members shall cease to be members:

1. Upon acquiring beneficiary status, not derived from other members, when they become entitled to the benefits provided for in these specifications.
2. At the member’s unilateral decision, in which case they shall become a suspended member.
3. Upon death.
4. Upon termination of the Plan, in which case their vested rights must be transferred to the pension plan of their choice. Such transfer shall be made to the occupational pension plan in which the departing member may hold membership, provided that the receiving plan allows it. In all other cases, the transfer shall be made to individual or associated pension plans.
5. By transferring to another pension plan, in accordance with Article 25.1(c) of these specifications.

1. The beneficiaries of the Plan shall be those natural persons who, whether or not they have previously been members of the Plan, are entitled to receive benefits.
2. For the contingencies of retirement, permanent incapacity and dependency, the beneficiaries shall be natural persons who, at the time the contingency arises, are members or suspended members of the Plan.
3. In the event of the death of a member, suspended member or beneficiary, the beneficiaries may be the designated natural persons. In the absence of an express designation, the beneficiaries shall be the legal or testamentary heirs and, failing that, the other members of the Plan. The Management Entity shall, at all times, make available to members and beneficiaries the documents through which beneficiaries may be designated or such designation may be amended.

Plan members may, under their sole responsibility, make voluntary contributions directly through the Management Entity or the Depositary Entity, for any of the contingencies provided for in these specifications, provided that the sum of all direct or allocated contributions to this or other pension plans does not exceed the legal limit established in Article 5.3(a) of Royal Legislative Decree 1/2002 of 29 November, approving the consolidated text of the Law on the Regulation of Pension Plans and Funds.

Such contributions must be made directly by the member by payment into the account opened by the pension fund with the Depositary Entity (CAIXABANK).

The administrative unit of the University of Valencia responsible for managing the Pension Plan will inform you when you are in any of the situations that entitle you to redeem your vested rights, and will indicate the steps you need to take.

To request payment of your vested rights under the University of Valencia Occupational Pension Plan, PENSIOVAL III, F.P., you must submit the following document at any CaixaBank branch:

• VidaCaixa Plan Member Application Form

The beneficiary may choose to receive the benefit under any of the following option:

• Lump sum: a single payment, either immediate or deferred.
• Annuity: receipt of two or more successive payments at regular intervals, including at least one payment in each year.
• Mixed: a combination of the two options above.

     Benefits other than thos referred to above, paid in the form on non-periodic instalments.

Every six months, the Management Entity shall provide Plan members with information on the evolution and status of their economic rights under the Plan, as well as on any other matters that may affect them, particularly regulatory amendments, changes to the Plan specifications, the operating rules of the pension fund or its investment policy, and management and deposit fees.

In addition, CAIXABANK makes an application available to the Plan members, whether or not they are customers of the entity, enabling them to directly consult their vested rights. The application can be accessed through the following link:

• Aporta+ Application User Guide

Currently, the administrative management of the University of Valencia Pension Plan is the responsibility of the Secretariat of the Plan’s Supervisory Committee, which carries out its functions through the Social Security Section, located in the Rectorate Building, Level 2: pladepensions@uv.es.