Viabilidad del sistema de pensiones y reformas por el lado de los ingresos: una aproximacion intergeneracional

This paper examines, using the Generational Accounting method, the long run viability and the intergenerational income redistribution effects of the Spanish public pension system. Given the huge intertemporal debt accumulated by the current pension system, which is allocated entirely to generations not yet born, we explore the impact of alternative revenue policy reforms as a way to mitigate the strong demographic dependency of Social Security financing resources. Our findings indicate that, due to a rapid demographic ageing, these type of reform measures are not clearly enough to restore the intergenerational balance.