{"id":15366,"date":"2016-12-02T13:00:14","date_gmt":"2016-12-02T12:00:14","guid":{"rendered":"https:\/\/pibgroupiberia.com\/?p=3283"},"modified":"2025-06-03T09:08:26","modified_gmt":"2025-06-03T07:08:26","slug":"changes-in-the-public-pension-system-are-on-the-horizon","status":"publish","type":"post","link":"https:\/\/pibgroupiberia.com\/en\/blog\/se-avecinan-cambios-en-el-sistema-publico-de-pensiones\/","title":{"rendered":"Are changes to the public pension system on the horizon?"},"content":{"rendered":"<p>Recently, we recently discussed in the office a great article in the <strong>Expansi\u00f3n Newspaper<\/strong>, which detailed the current situation of Social Security, and summarised the <strong>economic proposals <\/strong>existing policies that seek to achieve sustainability in the <strong>pension system<\/strong> Spanish. Let us list them and draw some conclusions.<\/p>\n<h2>The retirement of the baby-boom generation\u00ab<\/h2>\n<p>In the news, in blogs, on the street... everyone is talking and worrying about what the pensions of the future will be like. Today's pensions seem to be guaranteed. However, those of the generation of <em>\u201cbaby boom\u201d<\/em> Why is this the case? Quite simply:<\/p>\n<ul>\n<li>because their<strong> salaries<\/strong> have been and are <strong>higher<\/strong> than those of their predecessors, so their pensions should be as well,<\/li>\n<li>because they are a <strong>very large generation<\/strong>. With their retirement, we would go from having a good number of contributors to the Social Security (filling the pension fund) to having to pay all that volume of pensions, with pensions lasting longer, given that life expectancy continues to grow.<\/li>\n<\/ul>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-3349\" src=\"\/wp-content\/uploads\/2016\/12\/HUCHA-PENSIONES-FONDO-DE-RESERVA-1024x661.jpg\" alt=\"PENSION RESERVE FUND PIGGY BANK RESERVE FUND\" width=\"950\" height=\"613\" \/><\/p>\n<h2>Possible solutions to the pension problem<\/h2>\n<p>Now the million-dollar question, <span style=\"color: #ff6600;\"><span style=\"color: #000000;\">\u00bf<\/span><\/span><span style=\"color: #000000;\">how this imbalance can be addressed\u00a0<\/span>we are predicting<strong>?<\/strong> Let's look at the proposals under discussion:<\/p>\n<h3>Funding<\/h3>\n<p>To be able to finance certain pensions (orphan's and widow's and widower's pensions) through<strong> taxes<\/strong>, This means that the social security system does not have to bear the costs. We are talking about \u20ac24 billion per year.<\/p>\n<h3>Corrective factors<\/h3>\n<p>Seek sustainability through the introduction of corrective factors, which introduce life expectancy into the formula. This is already related to the limitation in the revaluation of pensions, preventing it from being equal to the CPI, but rather to a minimum of 0.25% and a maximum of 0.5%.<\/p>\n<h3>Continuity in the labour market<\/h3>\n<p><strong>Compatibility <\/strong>The combination of receiving a pension and remaining in the labour market, which is not possible at present, is already a reality. This is already a reality today.<\/p>\n<h3>Limiting early retirement<\/h3>\n<p>A practice that outrages many people because of the high cost to the social security system.<br \/>\nPromotion of private savings plans: improvement in the tax treatment to provide more incentives for families to save, seeking to encourage more money in retirement.<\/p>\n<p>As we can see, some measures could be considered a mere sharing of the cost between public institutions (as the first one could be), or a simple cut in pensions (the second one, which we talked about in our article of a few months ago). <em><a href=\"\/en\/blog\/the-uninformed-lie-of-pensions-and-social-security\/\">\u00abThe uninformed lie of pensions and social security\u00bb.\u00bb<\/a><\/em>). On the other hand, the other alternatives under consideration seem to us to be very favourable to try to improve the situation we find ourselves in.<\/p>\n<p>If you want to assess <a href=\"https:\/\/pibgroupiberia.com\/en\/location\/zaragoza\/savings-plan\/\">how much you need to save to have a certain amount at retirement<\/a>, Contact us. Our <strong>Savings and Investment Department<\/strong> will help you to achieve this.<\/p>","protected":false},"excerpt":{"rendered":"<p>C\u00f3mo podemos solucionar la financiaci\u00f3n de las pensiones&#8230; esa es la cuesti\u00f3n<\/p>","protected":false},"author":14,"featured_media":15367,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"yasr_overall_rating":0,"yasr_post_is_review":"","yasr_auto_insert_disabled":"","yasr_review_type":"","footnotes":""},"categories":[16],"tags":[178],"class_list":["post-15366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-particulares","tag-jubilacion"],"yasr_visitor_votes":{"stars_attributes":{"read_only":false,"span_bottom":false},"number_of_votes":0,"sum_votes":0},"_links":{"self":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts\/15366","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/comments?post=15366"}],"version-history":[{"count":0,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/posts\/15366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/media\/15367"}],"wp:attachment":[{"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/media?parent=15366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/categories?post=15366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pibgroupiberia.com\/en\/wp-json\/wp\/v2\/tags?post=15366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}