Spain Archives - Pension Policy International

18SepSeptember 18, 2024

Key Elements of the Pension Reform Agreement Signed Today by Spanish Government and Unions

The keys to the pension reform agreement are being finalized today, September 18, 2024. Spanish Prime Minister Pedro Sánchez will join union leaders to mark this important event. The reform aims to improve retirement conditions for workers, especially those in tough jobs. Key Takeaways Pedro Sánchez to sign pension reform agreement. Early retirement options for hard professions. Partial retirement regulations improved for workers. Lower retirement age for specific job conditions. Enhanced conditions for fixed-discontinuous workers. Mútues to collaborate on temporary...

September 18, 2024

NewsPension Reform, Spain

25JunJune 25, 2024

Spain Goes Into Debt To Fill The Pension Pot

Can you imagine taking out a loan to open a bank deposit? Well, that is what Spain is doing to fill the pension fund with 7 billion. Last year, the pension system needed to borrow 50 billion from the state to meet pension payments. This 50 billion shortfall is exactly 3.6% of GDP. And it is exactly the figure for the Spanish public deficit in 2023. But that is no obstacle for the Government to have decided to endow the...

June 25, 2024

NewsFunding, Public spending, Spain

01DecDecember 1, 2023

The health status of the retirement-age population: a first approach

By Laura Crespo & Juan F. Jimeno Rationale The health of the population aged 55 to 69 influences their labour supply and retirement decisions. This article aims to document their health status, in Spain and in other European countries, drawing on data from the Survey on Health, Ageing and Retirement in Europe (SHARE). Takeaways •There are marked differences by gender in the health status of the Spanish population aged 65 to 69. Among women, 62.9% report chronic health problems, 30.1% mobility limitations and 32.1%...

December 1, 2023

Articles, System Characterization2023, Aging, Health, Spain

08JunJune 8, 2023

Pension reform could impact employment and wages warns Bank of Spain

The Bank of Spain has warned the government that the new pension regulation could have a negative impact on employment, wages and the competitiveness of companies. This, it said, is due to the triple increase in contributions that the regulation imposes and that will particularly affect workers with higher salaries, who will be penalised in three ways, while the rest of the workers will only be affected by the increase in contributions that the new intergenerational equity mechanism entails. According...

June 8, 2023

NewsPension Reform, Spain

09MayMay 9, 2023

Impact of Spain’s Aging Population: Demographic Shift’s Effect on Major Sectors

Spain is a beautiful country known for its vibrant culture, stunning landscapes, and delicious cuisine. However, behind this facade lies a looming issue that threatens to shake the very foundation of Spanish society: an aging population. This demographic shift is having a profound impact on the country’s economy, social services, and overall way of life. This trend is expected to continue in the coming years, with the proportion of seniors projected to rise to 25% by 2050. As per the...

May 9, 2023

NewsAging, Spain

30MarMarch 30, 2023

Pension Spending Soars 10% To €12 Billion In March As Spain Takes On €6 Billion A Month In Debt

Social Security paid out €11,945.6 million in contributory pensions in February, 3 billion more than the 8,946.9 million in March 2018, a few months before Pedro Sánchez came to government. The average monthly retirement pension shot up from the €1,260 it stood at in December 2022 to €1,372 per month, up 9.7%. And since there were no differences by amount bracket, the maximum pension exceeded €3,000 per month for the first time. The average amount of new pension registrations in...

March 30, 2023

NewsPublic Pensions, Spain

16MarMarch 16, 2023

Spain’s unions back government public pension reform

Spain's left-wing government won the backing of unions to reform the nation's public pension system on Wednesday, in stark contrast with neighboring France, where plans to raise the retirement age have led to waves of strikes and mass protests. The leaders of Spain’s two main labor unions, UGT and CC.OO., appeared alongside Minister of Social Security José Luis Escrivá in Madrid to christen the plan the union heads both deemed “historic.” CC.OO. secretary general Unai Sordo said that the reform would...

March 16, 2023

NewsPension Reform, Spain

13MarMarch 13, 2023

Spain, Commission agree to controversial pension reform

The government and the European Commission reached a last-minute agreement on a controversial pension system reform which paves the way for Madrid to receive the next tranches of the EU’s Next Generation funds. After months of work and tangible divergences between the two coalition partners, PSOE (S&D) and Unidas Podemos (EU Left), the government struck a deal on Friday, partially softening the coalition’s rift currently in. The reform, agreed with the European Commission, is part of the several milestones committed by...

March 13, 2023

NewsPension Reform, Spain

03MarMarch 3, 2023

Government spending in Spain from a European perspective

By Mario Alloza, Julia Brunet, Victor Forte-Campos, Enrique Moral-Benito & Javier J. Pérez This document presents a detailed analysis of the structure of general government spending in Spain and its recent evolution in comparison to the rest of the European countries. The weight of Spanish public spending is similar to that of neighbouring countries, although below the average for a reference group of European countries (EU-15). Thus, in 2019 the level of public spending stood at 42% of GDP compared to...

March 3, 2023

Articles, System Characterization2022, EU, Political economy, Public Pensions, Spain

25JanJanuary 25, 2023

Spain’s pension spending is approaching the point of no return (and the “baby boom” generation has not yet entered)

Pensions weigh on Spain. As much or more than most of its neighbors in the European Union. Although the bulk of the country’s boomers —born between 1957 and 1977— have not yet retired and the coverage rate of their pension system is lower than the European average, the spending that Spain allocates to them in relation to the size of its economy exceeded the simple average of the EU. If weighted measures are handled, it is already in tune...

January 25, 2023

NewsSpain, System sustainability

September 2024

Key Elements of the Pension Reform Agreement Signed Today by Spanish Government and Unions

June 2024

Spain Goes Into Debt To Fill The Pension Pot

December 2023

The health status of the retirement-age population: a first approach

June 2023

Pension reform could impact employment and wages warns Bank of Spain

May 2023

Impact of Spain’s Aging Population: Demographic Shift’s Effect on Major Sectors

March 2023

Pension Spending Soars 10% To €12 Billion In March As Spain Takes On €6 Billion A Month In Debt

Spain’s unions back government public pension reform

Spain, Commission agree to controversial pension reform

Government spending in Spain from a European perspective

January 2023

Spain’s pension spending is approaching the point of no return (and the “baby boom” generation has not yet entered)