Quantitative reduction in retirement benefits by the 2011 Spanish Social Security reform
The aim of this paper is to analyse the effect of the recent Social Security reform on public retirement benefits. The main measures af- fecting the calculation of pensions are: 1) extension of the retirement age from 65 to 67 years, 2) changes in covered earnings of the retirement pension, 3) changes in the weighting factor associated with the number of years of contributions to the system at date of retirement and 4) changes in the early retirement rules. The study distinguishes three group of pensioners and compares be- tween previous pension (benchmark pension) and the pension calculated under the new legislation. The reduction in public retirement benefits ranges between 0% and 16% depending on wages and the number of years of contributions at the time of retirement.
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- Juan F. Jimeno & Juan A. Rojas & Sergio Puente, 2006.
"Modeling the impact of aging on social security expenditures,"
Banco de Espa�a Occasional Papers
0601, Banco de Espa�a.
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- repec:fda:fdaddt:2003-02 is not listed on IDEAS
- Joan Gil & Miguel-Ángel López-García & Jorge Onrubia & Concepción Patxot & Guadalupe Souto, .
"A Projection Model Of The Contributory Pension Expenditure Of The Spanish Social Security System: 2004-2050,"
30-06 Classification-JEL , Instituto de Estudios Fiscales.
- Joan Gil & Miguel Angel López García & Jorge Onrubia & Cío Patxot & Guadalupe Souto, 2007. "A projection model of the contributory pension expenditure of the spanish social security system: 2004-2050," Hacienda Pública Española, IEF, vol. 182(3), pages 75-116, September.
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