A New Intergenerational Social Pact For Spain: A “Two-Stage” Mixed Pension System?
For the past eight years, Spain’s Social Security has been in the red: while revenue has increased by just 1.8% vs 2009, retirement pension spending is 54% higher than in 2009. Given this, “it is vital to define a new intergenerational social pact”, says CaixaBank’s experts.