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    May 30, 2022

    Spain | Pensions: insufficient reforms and challenges still to be overcome

    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.

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    May 9, 2022

    Spain | Pension deficit and Stability Program

    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, increasing the burden on the younger generations.

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    April 19, 2022

    Peru | Is the future someone else's problem?

    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.
    • Geography Tags
    • Peru

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    March 30, 2022

    Spain | Incomes policy agreement, imported inflation and pensions

    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 to reduce the risk of inflationary spirals and of future stagflation.

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    February 7, 2022

    Spain | Pension sustainability and purchasing power

    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.

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    December 20, 2021

    Spain | Assuring the sustainability of Social Security

    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.

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    December 10, 2021

    Spain | A decade of pension reforms and counter-reforms

    Unlike the 2011 and 2013 reforms, the 2021 measures increase the projected deficit of the pension system and pass it on to the State, increase contributions, making job creation more expensive, and reduce intergenerational equity, in exchange for a greater budgetary burden on the younger generations.

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    November 15, 2021

    Spain | A step backward in the equity and contributivity of the pension system

    The pension system reforms carried out up to now, and the latest proposals we are learning of, take us further away, rather than closer to, what other European countries have gradually done—and continue to do—to ensure the sustainability of their public pension schemes.

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