The sustainability of the public pension system in Spain raises doubts among many about its sustainability in the long term. The aging of the population, job insecurity and low salaries among young people are some of the factors that fuel concern. In this context, retirees like Antonio López, 71, express their concern about the future of the model. “I think that in a few years there will be no money for pensions if some things don’t change,” he said.
Antonio López, former mathematics teacher, explained in The Vanguard who enjoys a pension of 2,500 euros net per month, an amount that allows him to lead a comfortable life. However, he recognized that the current situation cannot be maintained without profound reforms. In his opinion, the low quality of many jobs and salaries Insufficient contributions among young people prevent adequate contributions, which puts the future financing of the system at risk.
“Young people earn little money, they work long hours and if they want to buy a home it is very expensive. We, at our age, have already solved all that,” he reflected.
Your pension is sufficient, but the system is compromised if measures are not implemented
Juan José López, an 83-year-old retired doctor, agreed that the current system needs changes. Juan José, who also receives a pension of about 2,500 euros per month, pointed out the need to rethink financing, adding that “in Spain you have to ask for more taxes and people are not willing to pay.”
For Antonio, the solution could involve a review of the collection system and the incorporation of a young immigrant population that contributes to Social Security. “I hope they change the way they collect or that young people from other countries come to pay taxes,” he noted.
Both retirees consider that their pension is sufficient, but warn that the stability of the system is compromised if concrete measures are not adopted in the short and medium term. Furthermore, Juan José highlighted the difficulties that young people in Spain go through “they live worse than pensioners because salaries are very low.”