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Una propuesta de reforma del sistema de pensiones español basada en un modelo de contribución definida nocional

The western pension systems and especially the Spanish one will noticeably be a®ected by an aging of the population that is currently underway. This work proposes a pension model for Spain which would mean deep structural reforms that would guarantee meeting the objectives established by a... Full description

1st Person: Valero, Diego
Additional Persons: Artís, Manuel; Ayuso, Mercedes; García, Jaime
Source: In Revista de métodos cuantitativos para la economía y la empresa Vol. 11 (2011), p. 91-113
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Type of Publication: Article
Language: English
Published: 2011
Online: http://www.upo.es/RevMetCuant/pdf/vol11/art50.pdf
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Summary: The western pension systems and especially the Spanish one will noticeably be a®ected by an aging of the population that is currently underway. This work proposes a pension model for Spain which would mean deep structural reforms that would guarantee meeting the objectives established by a Social Security system. Our proposal considers a reform that leads to the establishment of a general basic pension fund financed through taxes; a contributory pension fund reached by applying a notional den̄ed contribution model (NDC); and thirdly, an occupational system based on an auto-enrollment system, which we have called the National Saving System (NSS). Projections have been done up to the year 2039 with conclusive results with regard to retirement pensions (indicating the suitability of the model) as well as the GDP relative cost (indicating viability). We analyze how the Spanish Social Security system is an unbalanced one. Our workreveals its lack of sustainability in n̄ancial terms, both in the medium and long term. We demonstrate how the new model we are proposing is financially sustainable, and along with a transition period in which the current resources from the Reserve Fund would be used, it would be suitable for the needs of the population. -- social security; NDC system ; complementary pension plans ; auto-enrollment
Item Description: Zsfassung in engl. Sprache
Physical Description: Online-Ressource
Type of Publication: Systemvoraussetzungen: Acrobat Reader
ISSN: 1886-516X

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