The Spanish Public Pension System

II Pensions and the Piggy Bank

Contributions received and Pensions paid

120000 Pensionists, receive

112,286 *
110000

100000

90000

80000 Affiliations, pay

70000

93,318 *
1
7
8
9
0

2
3
4
5
6
201
200
200
200
201

201
201
201
201
201

Source: Social Security statistics * 2016yr figures in million Euros

For the first time, the amount paid to contributive

Pensions exceeds that of the contributions made by
workers and employers.

2011 The gap increases progressively with no apparent

signs of a robust U turn.

18,968 million Euros, Affiliations mismatch

revenues from Pensions paid in year
2016.

Public Pension Reserve Fund, the "Pensions'

piggy bank", is broken to meet pension
payments that Affiliations do not equate.
Reasonable expectations to recover PPRF are
2011 not foreseen.

Evidence shows that the current

Public Pension System destroys
value, and compromises severely
66,815 its financial self-sufficiency as
well as its capability to recovering
from adverse economic cycles.
The Toledo Pact must urgently
address its reform, to make PPS
sustainable.
2017 7,920 Infographics the Spanish Public Pension System by Miguel Sánchez de Pedro is
licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0
International License.

Source: Social Security, annual reports and author's estimate (year 2017)