Reserve fund needs professional management

The Social Security system's reserve fund, which is the national pension system piggy bank, continues to shrink despite collecting 53.7 billion euros in social security contributions in 2013. And there is still time to take more from the reserve fund. 97% of the reserve fund is invested in Spanish national debt, generating a 4.76 yield, which is higher than private plans that were available before the crisis.

We should remember that the number of retirees could double in the coming years and that a tight, professional management is needed if the fund wants to survive. Perhaps the laws should be changed and, if possible, an agreement should be forged between the political parties in order to make that happen. Hopefully, the government will tackle this issue without delay.