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September 9, 2024
Following Law 21/2021 and the Intergenerational Equity Mechanism (IEM), Social Security contributions rose by 0.7 points without generating higher future pensions. Although the reserve fund is growing, the pensions system faces a significant deficit and raises questions about its sustainability and necessary reforms.
May 9, 2023
At the Forum "Colombia's Social challenges" a summarised version of the report "How is the social situation of Colombians?” which analyses variables related to the social situation, characterises the main poverty figures and concludes with the determinants for improving social well-being.
May 9, 2022
Once the last reform decision did not restrict the increase in spending and did not eliminate the actuarial imbalance, the sustainability of the pension system will involve a constant increase in taxation and transfers from central government, increasing the burden on the younger generations.
May 10, 2021
The public deficit forecasts contained in the 2021–2024 Updated Stability Program provided by the Spanish government to the European Commission have recently been disclosed. For 2021, the collective target deficit for the Public Administrations is 8.4% of GDP, which will progressively decrease to reach 3.2% in 2024.
November 5, 2020
The recommendations of the Pension Commission of the Spanish Congress (Pacto de Toledo) are a good starting point for addressing gradual changes in the system, but they are not enough to ensure its sustainability. If the appropriate measures are not taken, the recommendations have the potential to imbalance the system.
November 28, 2019
The structure of the current Spanish pension scheme is essentially the same as when it was set up at the end of the 1960s. In the 50 years that have gone by since its creation, the only changes it has seen have been to its parameters.
November 14, 2016
El agotamiento del Fondo de Reserva de la Seguridad Social, previsiblemente en 2017, ha vuelto a plantear la necesidad de adoptar nuevas medidas para reducir el déficit existente, fortalecer su sostenibilidad y asegurar la suficiencia de las pensiones futuras, un pilar fundamental del Estado de bienestar que hay que preservar.
September 5, 2016
The persistent Social Security deficit and the continuous tapping of the Reserve Fund, which has dropped 62% from the 66.8 billion of 2011, has spurred another intense debate about the viability of Spain’s pension system.
February 2, 2016
Social security affiliations fulfilled expectations in January, registered unemployment surpassed them. BBVA research estimates point at a continued relevance from job creation and unemployment reduction in the beginning of 2016.
October 2, 2015
The favorable evolution of the labor market figures in September did not offset the disappointing start of the quarter. BBVA Research estimates indicate that both the growth of Social Security affiliation and hiring, as well as reducing unemployment slowed down throughout the 3T15 as a whole.
