The reform of the spanish pensions system: A microsimulation approach

• Autores: Concepció Patxot Cardoner, M. Solé, Gabriel Souto
• Localización: XXI Encuentro Economía Pública, 2014, pág. 36
• Idioma: inglés
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• Resumen

  • This paper analyses the effect of the recent reforms of Spanish pension system using DyPeS, the first dynamic microsimulation model of the retirement pensions system applied to the Spanish case.

    The simulation of the reform approved in 2011 shows that only the delay in retirement age (from 65 to 67) would have a significant effect on pension expenditure, while other measures changing the computation of the initial pension for new retirees have a limited impact.

    Paradoxically, it is found that the consideration of more contribution years in the computation of the initial pension amount, despite fostering the Bismarckian nature of the system, has a positive impact on redistribution.