Comparing pension systems in Spain, Germany: getting closer

MADRID | The reform of the pension system in Spain is planned to help to improve the outlook for sustainability of the system by reducing pension expenditure as a share of GDP. It should weigh in towards reducing the public deficit, too. At BBVA, analysts have drawn some basic comparisons between the Spanish and the German pension systems.

“Given uncertainties about employment, productivity and demographics, it is appropriate for the reform to be assessed from the moment that it is implemented,” the BBVA research team note.


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