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

Joaquim Levy

No 1995/073, IMF Working Papers from International Monetary Fund

Abstract: 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.

Keywords: WP; government; wage; tax; GDP; occupational-risk insurance regime; purchase lists; flat rate; government responsibility; retirement age; expenditure-control mechanism; government priority; Pension spending; Health care spending; Aging; Social security contributions; Europe (search for similar items in EconPapers)
Pages: 40
Date: 1995-07-01
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