The financial unsustainability of the spanish pension system: reasons, possible reforms and the implementation of the Dutch system.

Identifier:  TFG:7524

Handle: https://hdl.handle.net/20.500.11797/TFG7524

Authors:  Pujol Pacheco, Miquel

Abstract:
This Final Degree Project presents the growing problem of the financial unsustainability of the Spanish pension system in order to find the main causes and possible reforms or changes. The paper identifies the objectives of a pension system, the types of existing systems and the recommendations of international economic organisations. In addition, an analysis is made of the evolution of pensions in Spain and the current situation of the system. On the other hand, the practical part is divided into three main areas: Firstly, the ageing of the Spanish population and the situation of the labour market are investigated as the main causes of unsustainability. Secondly, it proposes reforms to the current system to ensure financial sustainability, xplaining the positive and negative impacts of each. Finally, in view of the prestigious Mercer CFA Institute Global Pension Index 2023 ranking that rewards the pension system of the Netherlands as the best in the world, the paper studies which guidelines can guide Spain and the effects of a possible transition.