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Working life and retirement pensions in Spain: The simulated impact of a parametric reform

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  • Rafael Muñoz de Bustillo
  • Pablo de Pedraza
  • José Ignacio Antón
  • Luis Alberto Rivas

Abstract

This article aims to offer an ex ante evaluation of the impact of a parametric reform of the Spanish pension system that would involve increasing the reference period used to calculate benefits, an approach proposed many times by various actors in the socio‐economic field. Such gradual change may be categorized as a non‐structural reform of the pension system. This contrasts with reforms of a structural nature that have been very popular in Latin America and elsewhere, involving the creation of defined contribution individual account schemes. As regards the parametric reform proposed in this article, the main findings indicate that it would have a small but negative impact on pension income for pensioners and would reduce income distribution.

Suggested Citation

  • Rafael Muñoz de Bustillo & Pablo de Pedraza & José Ignacio Antón & Luis Alberto Rivas, 2011. "Working life and retirement pensions in Spain: The simulated impact of a parametric reform," International Social Security Review, John Wiley & Sons, vol. 64(1), pages 73-93, January.
    • Handle: RePEc:wly:intssr:v:64:y:2011:i:1:p:73-93
    DOI: 10.1111/j.1468-246X.2010.01385.x
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    Cited by:

    1. EL-HOUJJAJI, Hind & ECHAOUI, Abdellah, 2020. "Assessing the financial sustainability of parametric pension system reforms: The case of Morocco," MPRA Paper 98912, University Library of Munich, Germany.
    2. Juan Manuel Pérez-Salamero González & Marta Regúlez-Castillo & Carlos Vidal-Meliá, 2017. "The continuous sample of working lives: improving its representativeness," SERIEs: Journal of the Spanish Economic Association, Springer;Spanish Economic Association, vol. 8(1), pages 43-95, March.

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