Geroa

What Geroa does

Geroa Pentsioak EPSV is a non-profit sectoral employment pension entity (EPSV de empleo preferente) headquartered in San Sebastián, Basque Country, Spain. Founded in 1996 by ADEGI (the Gipuzkoa employer association) and four trade unions (ELA, LAB, CCOO, UGT), it was the first sectoral voluntary social security entity in Spain. Geroa manages supplementary pension contributions from workers and employers across 20 industrial sectors in Gipuzkoa, where it covers 54% of the regional workforce — approximately 262,000 worker members across 9,319 companies. Contributions are split 50/50 between worker and employer, range from 0.20% to 2.30% of salary per party depending on sector (average ~4.60% aggregate), and are collected through company payroll systems via sectoral collective agreements.

The business model is non-profit: 94% of each contribution is allocated to individual member savings accounts, while 6% covers risk benefits for incapacity and death. No commissions or dividends are charged, and all returns are reinvested for members. The entity has achieved an average annual return of 6% since inception (20-year compound return of 6.42%), significantly exceeding the CPI+2% target, with a 6-person in-house investment team. Local industrial investment is channeled through ORZA AIE, a 50%-owned joint venture that places 6.29% of GEROA's funds into Basque companies.

The technology stack comprises private web portals for workers and companies/management agencies, a native mobile application (iOS/Android), an AI-powered virtual assistant built on Chatbase for member queries, online appointment scheduling via Calendly, and marketing automation via Mailchimp. Geroa holds ISO 9001:2015 (quality management) and ISO 27001:2022 (information security) certifications and has won multiple IPE (Investment & Pensions Europe) awards for Best Spanish Employment Pension Fund (2014, 2017, 2018, 2025). Governance is paritarian: a 26-member Management Board and 106-member General Assembly split equally between ADEGI and the four trade unions, with no remuneration for board members.

Name

Geroa

Legal name

GEROA PENTSIOAK E.P.S.V. DE EMPLEO PREFERENTE

Website

https://geroa.eus

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Short description

Geroa Pentsioak EPSV is a non-profit sectoral employment pension entity in Spain's Basque Country, managing supplementary pension contributions from workers and employers across 20 sectors covering 54% of Gipuzkoa's workforce (262,000 members in 9,319 companies). Founded 1996.

Ownership category

akta.pro rank

Product category

Occupational Pension Services

NAICS

Pension Funds (525110), Insurance and Employee Benefit Funds (5251), Health and Welfare Funds (525120)

SIC

Finance Services (6199)

akta.pro primary industry

Corporate & Public Pension Funds (DB/DC Sponsors) (FSAAAGAA)

akta.pro secondary industry

Pension Master Trusts, Superannuation & Provident Funds (FSAAAGAB)

Keywords

• Occupational pension fund
• Sectoral pension scheme
• Supplementary pension plan
• Socially responsible investment
• Pension benefit administration

Headquarters

HQ city

San Sebastian

HQ country

Spain

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Paritarian Pension Contributions: GEROA operates as a non-profit entity (EPSV de empleo preferente). Contributions are made paritariamente — 50% by the worker (deducted from payroll) and 50% by the employer. 94% of each contribution is allocated to individual member savings accounts; the remaining 6% covers risk benefits for incapacity or death. No commissions or dividends are charged; all returns are reinvested for members.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Geroa Pentsioak EPSV operates a sectoral voluntary social welfare pension entity that manages paritarian (50/50 worker-employer) contributions across 20 industry sectors in Gipuzkoa, Spain. It invests these funds under a socially responsible investment policy and pays out complementary pension benefits upon retirement, permanent disability, or death. The entity charges no commissions or dividends, with all returns reverting to members' individual savings accounts.

Product overview

Geroa Pentsioak EPSV operates as a sectoral voluntary social welfare entity offering a unified complementary pension platform for workers in Gipuzkoa, Basque Country. The core offering consists of three interconnected services: pension contributions management (where workers and employers contribute 50/50), pension benefits payments (covering retirement, disability, and death contingencies), and socially responsible investment services (achieving 6% average annual returns). Supporting digital services include private web portals for workers and companies, a mobile application, and an AI-powered virtual assistant. Direct investment activities are channeled through ORZA AIE, a 50%-owned investment vehicle focused on Basque industrial companies. The entity covers 20 industry sectors and has been operating since 2001.

Differentiator

Problem solved

Functional benefit

Products and services

• Pension Contributions Management (Aportaciones) Manages paritarian pension contributions between workers and employers at a 50/50 split. Covers 20 industry sectors in Gipuzkoa with contribution rates ranging from 0.20% to 2.30% per party depending on the sectoral collective agreement. 94% of each contribution is allocated to the member's individual savings account and 6% covers risk benefits.
• Pension Benefits (Prestaciones) Provides complementary pension payments to members upon retirement (Temporary Rent or capital), permanent disability, or death. Includes additional capital benefits for work accidents and family protection for incapacity and death coverage. Average monthly retirement payment of €250.28 in 2025.
• Investment Services (Inversiones) Manages fund investments for member pension savings with emphasis on Socially Responsible Investment (SRI/ESG). Achieves a 6% average annual return since inception, exceeding the CPI+2% target. Includes a 6.29% allocation to Basque Country companies and follows UNPRI principles.
• ORZA AIE Investment Vehicle 50%-owned investment vehicle for direct non-listed investments in Basque industrial companies and SME projects. Channels approximately 5% of Geroa's assets into Basque enterprise projects, providing advisory and management support to portfolio companies.
• Mobile Application for Workers Native iOS and Android mobile application allowing workers to access their private area anytime. Features include personal data viewing, contributions, assets, returns, and fiscal information, updated biweekly.
• Virtual Assistant (AI Chatbot) AI-powered virtual assistant on the corporate website, powered by Chatbase.co S.A., that processes text-based conversations to answer member queries about pension services. Designed for general inquiries only; does not store personal identification information and retains dialogue history anonymously for service improvement.
• Business Investment Lines for Basque Companies Five investment lines for Basque companies totaling €20M: support for new entrepreneurs (up to €20,000), startup capital participation, business development (up to €5M annually via ELKARGI partnership), and established company support (up to €8M). Expected to benefit approximately 40 companies.

Quantifiable outcome

• Average monthly retirement supplement of €250.28 paid in 2025
• +6 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Toledo Pact Commission (Parliamentary Commission)minorOthers · 22 February 2017GEROA's Manager Virginia Oregui testified before the Toledo Pact Commission (Comisión del Pacto de Toledo) in the Spanish Congress in February 2017. GEROA's model was presented as a reference for extending complementary employment pensions nationwide.
• ELKARGIcoreStrategic or Co-development Partner · 1 January 2016ELKARGI is the private equity/sme investment vehicle partnered with GEROA. Through a collaboration agreement, GEROA invests up to €5 million per year in new company capital via ELKARGI's advisory services, targeting innovative Basque startups and SMEs. ELKARGI's guarantee covers 90% of investment risk.
• Novia Salcedo FundazioaminorStrategic or Co-development Partner · 9 February 2015Partnership signed in February 2015 with Novia Salcedo Fundazioa to support the 'Pegasus' program, aiming to place youth employment within the Global Development Agenda. GEROA contributed €15,000 to the project, aligning with its social responsibility commitment.
• ELKARKIDETZAcoreStrategic or Co-development Partner · 1 January 2015ELKARKIDETZA is the alliance through which ORZA was constituted (2002). GEROA and ELKARKIDETZA collaborate on directing non-listed market investments to Basque companies, with ELKARKIDETZA providing advisory and management support.
• ORZA AIEcoreStrategic or Co-development Partner · 1 January 2002ORZA AIE (shared entity) is 50% owned by GEROA. Its objective is to invest in Basque companies and provide management support. ORZA channels GEROA's non-listed market investments, including a 5% allocation of GEROA's assets. It is a core component of GEROA's local investment strategy.
• ADEGI (Asociación de Empresas de Gipuzkoa)coreStrategic or Co-development Partner · 1 January 1996ADEGI is GEROA's founding employer association. Together with four trade unions (ELA, LAB,CCOO,UGT), it co-governs GEROA through its governing bodies. ADEGI holds the Presidency and Treasurer position on the Management Board.
• ELA, LAB,CCOO, UGT Trade UnionscoreStrategic or Co-development Partner · 1 January 1996The four trade unions are co-founders and co-governance partners of GEROA. They hold 53 seats on the General Assembly and 13 seats on the Management Board (with ELA holding the Presidency and UGT the Secretary). They serve as key referral channels for worker members.

Scale indicators13 records

Recent moves9 records

Expansion highlights5 records

Market position

Competitive moat6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCA8k3pok1PxbMgUb_VThwgw/videos
• LinkedInlinkedin.com/company/geroa-pentsioak-epsv

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Geroa