Bad news for young Spaniards, who, for one reason or another, see to postpone their entrance to the labor market. A study conducted by the BBVA Foundation and the Valencian Institute of Economic Research (IVIE), it is estimated that this will now force young people to postpone their age Pass until 71 years old If you want to save your standard of living.
This is reflected in the data of this study published on Thursday, and this came to the conclusion that with the frequency of work 43.2 % of 16 to 29 years, 15 points lower than in 2007, many young people will arrive 2065 entered only 30 yearswhich will punish your pension. From 2027, The usual retirement age will be 67 years old And you will need to spend 37 years to collect one hundred percent of pensions, although this age can be reduced to 65 if 38 and a half years are reached.
The calculation of the issue is as a result of the speed of replacement, that is, the relationship between the first pension and the last salary. We already know that, less quoted, less pension, since the so -called recovery coefficient is used. This, if we tie it to a lower main wage, is mentioned, can lead to “problems with sufficient sufficient extent”, and, therefore, the level is good, which decreases both during their working life and after retirement.
More contribution to social security will be required
In addition, they add, these young people will also be affected by the pension Recently introduced reforms In the Spanish pension system, but the overall implementation of which will occur After 2050Field
In these reforms, the study also includes the expansion of the number of years to calculate the regulatory framework. For example, in 2044 to consider 27 best years over the past 29. In addition, with the capital mechanism between generations, the deposit type increases by 0.1 percentage points per year from 0.8% in 2025 to 1.2% in 2029. And it will increase even more if the social security deficit increases.
If the reforms “which are already in public debate”, then the decrease in the replacement level is from 10 to 20 additional interest points, to 57.6 %, adding EFE, adding the same report, will be implemented in the future. The report refers to the possible changes that are used in other surrounding countries, such as an increase in the calculation period to the last 35 years of labor, increase to 40 cited years necessary to collect a hundred percent of the pension and connect the amount of the initial pension with the expected life span through the stability factor.
So, Anywayreport ends What with the last pension reform great efforts of the contribution to social security To get a pension with a lower percentage of replacement, with 75.3% compared to the current 77.1%. This reduction, they explains, could slip away from the “delay in the moment of retirement.” However, if the reform intensified with the help of additional measures commented on to reduce the deficiency of the system, “the negative impact would be much more significant.”
