The Spanish Social Security: Prospects of the Pension and Health-Care Systems

July 1, 1995

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

The social security system in Spain has steadily expanded since the late 1970s. Currently, social security expenditure exceeds 15 percent of GDP, being a factor of fiscal imbalance. This paper reviews achievements and the current situation of the social security system, discusses changes in the financing of health-care expenditure in view of the need for fiscal consolidation by the general government, and analyzes the scope for a partial prefunding of future liabilities of the pension system.

Subject: Aging, Expenditure, Health care spending, Pension spending, Population and demographics, Social security contributions, Taxes

Keywords: Aging, Europe, expenditure-control mechanism, flat rate, GDP, government, government priority, government responsibility, Health care spending, occupational-risk insurance regime, Pension spending, purchase lists, retirement age, Social security contributions, tax, wage, WP

Pages:
40
Volume:
1995
DOI:
https://doi.org/10.5089/9781451849400.001
Issue:
073
Series:
Working Paper No. 1995/073
Stock No:
WPIEA0731995
ISBN:
9781451849400
ISSN:
1018-5941

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