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In a context of high uncertainty due to the war in Ukraine, the energy shock and higher and more persistent inflation than expected over the last year, forecasts for Spain point to an economic slowdown in 2023, with GDP growth at 1.2%.

The main developments this year are the 8.5% revaluation of pensions in accordance with average monthly inflation from November 2021 to 2022 and the 15% increase in non-contributory pensions.

The public pension system is a basic pillar of the welfare state in Europe. They are viable and sustainable as long as they adapt to the continuous economic, social, and demographic changes that societies experience. The challenge is to find th…

The national budget includes the planned revaluation of pensions in line with the CPI and the agreed increase in the wages of public sector employees. The implications of these two measures go beyond their impact on public sector expenditure, a…

The announcement of Spain’s government budget for 2023 has once again brought the subject of pensions back into the limelight, as this particular budget item has seen the largest increase and will require a record level of transfers from the …

Longer working lives improve the sustainability of the welfare state and the public pension system, have positive externalities on the employment and productivity of young workers, and enhance cognitive functioning.

This article addresses a number of recent, ongoing changes to the pension system in Spain, notably the revaluation of pensions based on the CPI, the introduction of the Intergenerational Equity Mechanism, and occupational and individual pension plans. We also discuss the key challenges that lie ahead.

Once the last reform decision did not restrict the increase in spending and did not eliminate the actuarial imbalance, the sustainability of the pension system will involve a constant increase in taxation and transfers from central government, …

Proposals to authorize new withdrawals from private pension funds do not seem to be a priority when the economy is recovering and exploiting today's youth the burden of doing something in the future for those left unprotected today.

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It seems reasonable that in exceptional times, like the current one, the economic cost of the major increase in gas, oil and other commodity prices should be shared across the population as a whole — including pensioners. This would then help…

The pension system is a form of insurance whereby workers defer their income so as to maintain purchasing power and welfare throughout their life. Pay-as-you-go systems should therefore aim to revalue pensions in line with inflation, but with a design that ensures the system is sustainable over time.

One of the roles of Social Security is to provide insurance in the form of retirement pensions. Society is faced with the challenge of ensuring that Social Security provides this social policy through a sustainable and adequate pension system.