Spain's high unemployment level has turned into the main enemy of pension funds, which are starting to feel the effects of the crisis as their contributions drop. The recent Debate on the Viability of the State System, which elEconomista promoted, has confirmed the drop.
The country's system is being put to the test and it would be a good idea to affirm the need to continue promoting transparency and flexibility within the model. The crisis justifies, in the near term, lowering Social Security taxes that increase the costs of labor and compensating for the cuts by diverting other funds or raising other taxes.
With views focused on the mid and long-term, it would be wise to think hard about models that maintain a targeted balance between state and private pensions.