pensions | The Corner .eu

European politics 17th January 2020

How much does the strike against pension reform is costing France?

Jean-François Jolivalt (La Française AM) | The more than 40 days of protests and transport strikes in France against the pension reform proposed by the French Government is an unprecedented event in the recent history of France. Strikes are undoubtedly a burden on consumer confidence. However, the population has adapted to the situation thanks to electronic commerce, distance work, carpooling and car sharing, which are all services or alternatives that are now widely accepted and available.

Spain's pensions debt to rise over 200% of GDP by the end of 60s

Spanish economy 14th January 2020

Spanish government gives green light to 0.9% pension increase

The first ministers cabinet meeting in Spain on Tuesday approved the rise in pensions by 0.9%. The increase will be applied retroactively from January 1 and will affect more than 10 million Spaniards, both contributory and non-contributory and passive class pensions. It will cost the Spanish coffers 1.4 bn euros.

Spanish economy 22nd November 2019

Brussels believes the extension of budget poses a risk for Spanish debt reduction

BancaMarch | The European Commission warns that Spain is moving away from the adjustment path and asks for measures that compensate the alignment of pensions with prices.

Spanish economy 27th June 2019

Spanish spending on pensions rose 7.1% in first half of 2019: time to consider Moody´s warning on labour reform?

Moody’s warns that a broad reversal of reforms, especially of pensions or the labour market, would exert downward pressure on its rating for Spain.

Spanish economy 4th June 2019

How much does it cost to update pensions in Spain in line with inflation?

Ángel de la Fuente (Fedea) | One of the most controversial aspects of the 2013 reform of the Spanish system of public pensions has been the introduction of a revaluation index (the so-called IRP) which linked the updating of pensions, once triggered, to the financial situation of Social Security, thus abandoning the traditional reference to inflation measured by the consumer price index (CPI). Given the measure´s unpopularity, once inflation recovered after the crisis, it did not take long for it to be provisionally suspended. Currently, there seems to be a broad consensus among the main politically parties to abolish it altogether, returning to the general indexing of pensions to the CPI.

Spain has highest proportion of contracts of 6 months or less

Spanish economy 16th May 2019

Inequality is not Spain’s problem. Unemployment is

Miguel Navascués | The winner of the recent elections, Pedro Sánchez, defined his objective in the previous debates with great precision: to end the increasing inequality in Spain. But inequality is not the main problem in Spain, it does not even have the nature of a problem. To begin, it is not increasing.

Spanish economy 27th March 2019

How many immigrants does Spain need to pay the pensions?

Emilio José González González via The Conversation | How many immigrants does Spain need to be able to pay the pensions? To put a figure is easy. The IMF, in an analysis entitled Challenges Beyond Financial Sustainability, concludes that 5.5 million immigrants will be needed between now and 2050, equivalent to 21% of the current population.

Spanish economy 6th November 2018

Spain’s Pensions Debt To Rise Over 200% Of GDP By The End Of 60s

Miguel Navascués | Still maintaining pensions reforms, given fairly benign assumptions on productivity, growth, employment and immigration, would have to result in the apparition of a significant systemic debt, but the no-reform is therefore today the least bad solution. A rigorous study by the Foundation FEDEA focuses on precisely this point.

Spanish economy 11th October 2018

Forget Tax Collection, Guaranteeing Spanish Pensions Means Reforming The System Itself

The Spanish Ministry of Finance rules out a new specific tax hypothecated to finance pensions. In fact, the majority of developed countries has reformed their pensions systems basing them on various pillars (public/private; obligatory/voluntary) especially the nordic countries. Only Italy, Portugal, Greece and Spain maintain a pensions system based solely on obligatory social security contributions.

Spanish economy 4th June 2018

The Spanish Pension System And Its Problems

Raimundo Poveda | The Spanish pension system is one more which exists in the OECD and, probably, not one of the worst. Neither are its problems very original. Just like in other countries in the club, the financial hardships which were the result of the Big Recession led to cuts. These were implemented in 2011 by the PSOE, with the PP causing a big scandal, then in 2013 by the PP, with the roles reversed.