This article was written with financial support (FIPROS/2006/61) of the General Social Security Secretariat of the Ministry of Labour and Social Affairs of the Government of Spain. The views presented herein should not be regarded as representing the position of the Spanish social security authorities. Any errors or omissions are the full responsibility of its authors. The authors thank the reviewers for suggestions and comments.
Working life and retirement pensions in Spain: The simulated impact of a parametric reform
Article first published online: 4 JAN 2011
© 2011 The author(s). International Social Security Review © 2011 International Social Security Association
International Social Security Review
Volume 64, Issue 1, pages 73–93, January/March 2011
How to Cite
de Bustillo, R. M., de Pedraza, P., Antón, J. I. and Rivas, L. A. (2011), Working life and retirement pensions in Spain: The simulated impact of a parametric reform. International Social Security Review, 64: 73–93. doi: 10.1111/j.1468-246X.2010.01385.x
- Issue published online: 4 JAN 2011
- Article first published online: 4 JAN 2011
- pension scheme;
- social security reform;
- social solidarity;
This article aims to offer an ex ante evaluation of the impact of a parametric reform of the Spanish pension system that would involve increasing the reference period used to calculate benefits, an approach proposed many times by various actors in the socio-economic field. Such gradual change may be categorized as a non-structural reform of the pension system. This contrasts with reforms of a structural nature that have been very popular in Latin America and elsewhere, involving the creation of defined contribution individual account schemes. As regards the parametric reform proposed in this article, the main findings indicate that it would have a small but negative impact on pension income for pensioners and would reduce income distribution.