spain pension spending

The Bank of Spain warns pension spending will grow by 5 pct points of GDP by 2050 if 2013 reform is suspended

The Bank Of Spain Warns Pension Spending Will Grow By 5% Of GDP By 2050 If 2013 Reform Is Suspended

Spain’s central bank highlighted the need for structural changes in the public pension system to ensure its long-term viability, while warning against the reversal of those already made. According to a simulation exercise presented by the entity, the revaluation index introduced after the 2013 reforms, which decoupled the rise in pensions from CPI, was the main reason behind lower pension expenditure.