{"id":21470,"date":"2024-09-13T09:00:00","date_gmt":"2024-09-13T07:00:00","guid":{"rendered":"https:\/\/www.11onze.cat\/?p=21470"},"modified":"2024-09-13T08:32:51","modified_gmt":"2024-09-13T06:32:51","slug":"paying-pensions-requires-savings-community","status":"publish","type":"post","link":"https:\/\/www.11onze.cat\/en\/magazine\/paying-pensions-requires-savings-community\/","title":{"rendered":"\u201cPaying pensions requires savings and community\u201d"},"content":{"rendered":"
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The Spanish government has reached an agreement with the trade unions to improve contributions, which has to make it possible to pay the pensions of the baby-boomers when they retire. But what is the small print of this negotiation? The financial director of 11Onze, Oriol Tafanell, details it in the current affairs magazine of R\u00e0dio Ciutat de Badalona.<\/strong><\/h3>\n

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Thus, the first outline that the Spanish government and the CCOO and UGT unions have agreed on foresees that companies and workers will contribute 0.6% more to the social security system, through salary contributions over the next ten years. In this way, <\/span>the increase for workers will be 0.2% and for companies 0.4%<\/b>, figures that have not pleased the employers’ association CEOE, which has withdrawn from the negotiations.<\/span><\/p>\n

However, Tafanell warns that the measure does not save pensions.<\/b> \u201cIf you read the small print, I disagree quite a lot with the agreement,\u201d he says. The reasons, according to the financial director of 11Onze, are that pensions will continue to rise because life expectancy is also increasing and that the baby-boomers will retire with high pensions because they have worked under good conditions. In short, the demographic and socio-labour context suggests that the new law could be insufficient.<\/span><\/p>\n

But, above all, there is one thing that worries the financial director of 11Onze. \u201cWith this measure, the Spanish government has assured that it will <\/span>collect around 0.2% of GDP, while it is estimated that at least 4% of GDP will be needed<\/b>. Imagine the difference, there is still a very large gap,\u201d he argues. In fact, some Spanish media are already pointing to an even <\/span>bigger gap<\/span><\/a> that would force a radical rethink of the pension system.<\/span><\/p>\n\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

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