Contributory pension systems: the Spanish case

Abstract

In the context of an increasingly aging population, the sustaining of public pension systems becomes more and more challenging. The growing number of pensioners together with the recent slowdown in the entire world -and thus, the decrease of contributions to the schemes-, forced the economies to review their pension systems and carry out reforms that assures their sustainability. This project aims to give a basic knowledge of how the world is currently dealing with pension systems and what is the case of Spain, overviewing to the possibilities that the country has in order to avoid the system failure. Lastly, the Spanish pension system is assessed using the Melbourne Mercer Global Pension Index, so the weaknesses of the system can be prioritized in future reforms.