Official
Government of Spain presents social stakeholders with proposal on pension sustainability factor
02/09/2013. The Government of Spain has begun the process of dialogue with social stakeholders on the design of the future sustainability factor aimed at guaranteeing the payment of current and future pensions, and in accordance with Law 27/2011 of 1 A…
02/09/2013. The Government of Spain has begun the process of dialogue with social stakeholders on the design of the future sustainability factor aimed at guaranteeing the payment of current and future pensions, and in accordance with Law 27/2011 of 1 August. The Sustainability Factor preserves the principles upheld by the Social Security system: a public, shared and defined-benefit model. The factor will come into effect in 2019 and the new index to be used for revaluating pensions will come into effect in 2014. This new model will guarantee that pensions are increased by at least 0.25% every year.
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