The tax reform will not encourage people to save for retirement. Traditional pension plans continue to suffer from low return on investment, because none of them have adjusted to the Consumer Price Index (CPI) in ten years. Also, the fees associated with them have increased to around 1%, which with inflation is high enough to create a negative earnings situation.
The only solution for making the tax reform pay was the Ahorro 5 plan. Still, in most cases the most anyone could make was 760 euros. This number is pitifully low for solving the problems with our national pension system.