Alonso, Javier; Hoyo, Carmen; Tuesta, David - BBVA Research, Grupo BBVA - 2014
cost of the previous pay-as-you-go scheme. Sixteen years on from its creation, the Retirement Savings System (SAR) has had …, limited the growing fiscal cost of the previous pay-as-you-go scheme. Sixteen years on from its creation, the Retirement …