The Social Security numbers over the last few years are really alarming. Although we still have not had any official confirmation, experts estimate that at end-21016 the system had a hole of nearly 18 billion euros, 40% more than in 2015, and almost six times over budget.
Spanish pension system
MADRID | By JP Marin Arrese | The Spanish government is about to reform the pension system so as to improve the budgetary balance. However, the current policies will not yield results in the short or medium-term and they won’t prevent deficits from emerging.
What is threatening the Spanish pension system, Francisco Martín Seco says, is not a longer life expectancy or the population pyramid but policies that drive the entire economy into a permanent recession, like reforms to make the tax system more regressive.