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Ageing Population and Spanish Pension System Reforms: Effects on Average Pensions and Inequality Among Pensioners

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Author(s): Pablo de Pedraza | Rafael Muñoz de Bustillo | Luis Alberto Rivas

Journal: Economic Analysis Working Papers
ISSN 1579-1475

Volume: 8;
Issue: 07;
Date: 2009;

ABSTRACT
An ageing population is prompting the reform of pension systems. The Spanish pension system has undergone two consecutive reforms and a third one is currently being taking into consideration. All three involve the lengthening of the period used to calculate the size of pensions. This paper offers an estimate of the impact of each system on average pensions and inequality among pensioners. The paper also explores the applicability of the conclusions to the generation of workers now in the middle of their working life, that is considering the characteristics of new working lives.
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