Law 2/2026 of 29 July has amended the General Social Security Act in a highlysensitive area: the regime governing alternative social welfare mutual schemes to the Special Regime for Self-Employed Workers “RETA” for members of professional bodies (lawyers, architects, healthcare professionals, etc.).
For decades, many professionals chose a mutual scheme instead of the RETA, trusting that they would receive equivalent protection. In practice, it became clear that, in many cases, the benefits provided were significantly lower than those that would have been available under the public system, leading to situations of inadequate protection, disappointment and growing concern. A new law has been enacted precisely to address this imbalance.
1. Strengthened Status for Professionals Covered by Mutual Schemes
The reform of Additional Provision 18 of the General Social Security Act (LGSS) maintains the exemption from registration with the RETA for those who opted for an alternative mutual scheme established before 10 November 1995, but introduces a key provision:
Members of mutual schemes who have opted for a mutual scheme as an alternative to the RETA shall enjoy the same rights and obligations as those recognized by law for self-employed workers, provided that such rights are not strictly linked to contributions made to the RETA itself.
This opens the door for professionals covered by mutual schemes to benefit from social protection measures designed for self-employed workers where such measures do not directly depend on contributions having been made to the public scheme.
2. Minimum Benefits and Contributions: Towards Alignment with the RETA
Additional Provision 19 of the LGSS has been significantly tightened.
Benefits provided by the alternative mutual scheme:
- If paid as annuities, they may not be lower than 100% of the minimum initial pension provided by the public system for the same contingency, or the non- contributory pension if the latter is higher.
- If paid as lump sums, they may not be lower than the capital equivalent of that minimum annuity.
- They must be updated annually under the same conditions as public pensions.
The minimum benefit requirement will be deemed satisfied if the member’s contributions are equivalent to 100% of the contribution that would result from applying the general common contingencies rate of the RETA to the minimum contribution base corresponding to the contribution bracket applicable to that member’s net income, including, where applicable, the reduced contribution under Article 38 ter of Law 20/2007 (start of activity).
Transitional Provision 46 of the LGSS establishes a phased transition: contributions will be set at 86% in 2026, 93% in 2027, and will reach 100% in 2028.
At the same time, an automated information exchange system with the Tax Agency is established so that mutual schemes can calculate contributions based on net income, thereby avoiding overlapping between contributions to the RETA and those made to the mutual scheme.
3. Transparency and Supervision: Greater Focus on Information Provided to Members
A new additional provision requires alternative mutual schemes to:
Prepare semi-annual reports for each member, including clear information on:
o The evolution of their funds.
o The current actuarial value of the initial annuity associated with their accrued rights.
o Transactions carried out and their costs.
Submit to the Directorate-General for Insurance and Pension Funds the documentation required for ongoing supervision, including financial statements, solvency information and regulatory compliance documentation.
In addition, the law requires the Government to approve further reforms within one year to strengthen transparency and oversight of these entities.
4. The “Transfer Mechanism” to the RETA: Transfer of Economic Rights
Transitional Provision 47 of the LGSS creates a genuine exceptional and voluntary mechanism allowing a transfer from the mutual scheme to the RETA.
Who may use it: members of professional bodies who are or have been affiliated with one or more alternative mutual schemes before the law entered into force, provided that they are not pensioners (except recipients of survivors’ pensions).
What is transferred: the accrued economic rights within the mutual scheme arising from contributions made to fulfil the function of an alternative to the RETA.
Deadline: one year from the entry into force of the regulations implementing this provision.
Conversion into contributions: the applicable formula will be established by regulation, taking as reference:
The minimum contribution base that would have applied under the RETA.
An adjustment coefficient between 0.67 and 0.87 to account for contingencies not covered.
Effects on retirement pensions:
For professionals who commenced their activity before 10 November 1995, time spent in a substitute mutual scheme will be counted, for the purposes of determining the retirement pension percentage, as time registered with the RETA.
For members aged 52 or over on 31 December 2026, each full month of registration and contribution to the alternative mutual scheme will be counted as one month of registration with the RETA for the purposes of determining the retirement pension percentage.
The transfer entails mandatory and irreversible registration with the RETA in respect of the activity that gave rise to it and is exempt from taxation in relation to the economic
transactions resulting from the transfer.
5. Special Agreement and Social Benefits Provided by Mutual Schemes
Additional Provision 1 of Law 2/2026 establishes a special agreement for individuals who left the mutual scheme before the introduction of individual capitalisation and who do not reach 15 years of contributions within the public system. They will be permitted to count up to five years of prior professional activity as contribution periods.
Final Provision 1 amends Article 44.4 of Law 20/2015, allowing social welfare mutual schemes that meet certain requirements to grant social benefits linked to their insurance operations, subject to financial and accounting separation. In the case of mutual schemes operating as alternatives to the RETA, priority will be given to social benefits aimed at improving retirement, dependency, permanent disability, widowhood and orphanhood benefits for members in situations of particular vulnerability.
6. Assessment in 2030: Maintain, Reform or End the Alternative Scheme System?
A new evaluation provision requires the Government to submit a report to Parliament before 31 December 2030 on:
The effectiveness of the real-income contribution system.
The alignment of contribution levels between alternative mutual schemes and the RETA.
That report will serve as the basis for deciding whether the alternative scheme system should be maintained, reformed or reconsidered.
Conclusion
Law 2/2026 has a direct impact on professionals who are, or have been, covered by an alternative mutual scheme:
Those who remain in the mutual scheme will benefit from stronger minimum protection and greater transparency but will also face a gradual increase in contributions until they are aligned with those of the RETA.
Those who consider that participation in a mutual scheme has been disadvantageous now have, for the first time, a legal mechanism to transfer their accrued economic rights to the public system, with specific effects on their future retirement pension and without tax cost. From a legislative policy perspective, the reform seeks to bridge the protection gap between alternative mutual schemes and the RETA, address situations of inadequate protection, and provide greater legal certainty for professionals when choosing their social welfare system.
How Does This Affect Us in Practice?
The practical consequences will depend on each person's circumstances, including years of membership in a mutual scheme, age, income level and the contingencies
covered. It is advisable to review:
Your history of contributions and benefits within the mutual scheme.
Your contribution record within the public system.
Whether it is advisable to use the transfer mechanism to the RETA once the implementing regulations are approved.
If you wish, we can analyze your specific situation and assess the impact of Law 2/2026 on your future retirement pension and the other contingencies covered.
The Labour Department of Marroquín Abogados can assist you in evaluating the effects of this reform and the advisability of remaining in the mutual scheme or opting for the future transfer mechanism to the RETA.
