spain private pensions plan

pensions spain

Workplace Pension Schemes: An Option That Is Taking Hold

Javier Garcia-Arenas (CaixaBank Research ) | The pension reform currently being prepared in Spain is a hot and pressing issue. After all, the structural deficit of the Social Security system (around 18 billion euros) and the need to ensure the system’s long-term sustainability in the face of demographic ageing are inescapable challenges for our economy. In this context, the minister for Inclusion, Social Security and Migration, José Luis Escrivá, has announced that he intends to boost workplace pension schemes (also known as company pension) in order to encourage long-term saving, as well as indicating that the British model could serve as a good example to follow.