And this year the State will once again come to the rescue of the pension system with an injection of €43,000 million in order to be able to meet the promised payments. At the end of September, the Social Security coffers accumulated a debt of €106 billion euros, almost four times more than the €27 billion it had at the end of 2017. And that is before taking into account…
Link Securities| The risk rating agency Moody’s estimates that the Spanish Social Security deficit “will increase significantly” over the next two decades in the absence of new adjustment measures as a result of the ageing of the population and higher spending on pensions that involves linking their rise to inflation, which could negatively affect Spain’s credit rating, currently at “Baa1” with a “stable” outlook, according to the newspaper Expansión on…
José Luis Escrivá will go down in history as the minister whose trade unions called the first ever strike in the history of the Ministry of Inclusion, Social Security and Migration. Staff shortages, delays in appointments and in the recognition of benefits, the closure of offices, and non-compliance with the agreements signed with the trade unions. For all these reasons, the trade unions CSIF and CC.OO. have called partial strikes…
Getting an appointment to deal with pperwork at the Madrid offices of the National Social Security Institute is mission impossible. There are citizens who have taken up to four months to get an appointment after spending day after day in front of the computer, as nobody answers the phone. The central government is looking for ways to solve this problem, while the CSIF trade union demands an urgent meeting and…
Social Security is still on the warpath. After many threats, CSIF, UGT and CCOO have today announced mobilisations for November amongst Social Security staff, in protest at “the failure and incompetence in management” of the current minister, José Luis Escrivá. He has not been able to redirect the progressive deterioration of management, according to the unions in a joint statement. “There are fewer staff. It is not managed effectively or…
The resignation of both comes in the midst of negotiating far-reaching reforms such as pension and self-employed quotas, as well as welcoming migrants due to the war in Ukraine. The two Secretaries of State that the Minister for Inclusion, Social Security and Migration, José Luís Escrivá – who, with an arrogance worthy of a better cause, disqualified a few weeks ago the Bank of Spain’s criticism of the Government’s proposed…
The Minister of Inclusion, Social Security and Migration, José Luis Escrivá, announced this Thursday that Social Security enrolment will increase by 217,000 people in May, “the third best figure in the historical series”. At the press conference to report on the fortnightly evolution of Social Security enrolment, Escrivá indicated that, in seasonally adjusted terms, May will see 37,000 more contributors. In his opinion, this data demonstrates the “enormous dynamism” that…
The Social Security estimates that April will close with 36,000 more members and has already exceeded 20 million contributors so far this month, with a total of 20,057,588 members as of Thursday, 21 April. This is according to data presented by the Minister for Inclusion, Social Security and Migration, José Luis Escrivá, at a press conference this morning. Escrivá described the data as “very positive”, taking into account “the significant…
The employers represented by their employers’ associations, CEOE and CEPYME, announced yesterday that it is impossible to reach an agreement with the Government and trade unions to establish an “Intergenerational Equity Mechanism”. This is what the Government and trade unions intend to do, with a 0.6% rise in contributions over 10 years to alleviate the deficit that will result from the retirement of the baby boom of the 60s. In…
In total, the additional cost is 36.25% of wages before deductions, which the government intends to raise by six tenths of a percentage point. The aim of this move is to replenish the reserves of the Social Security system (the piggy bank), in anticipation of the effect of the arrival at retirement age of the generations from the high birth rate phase.