Reiterates that the pension calculation period will take into account that there are now more volatile and less linear careers

The Minister for Inclusion, Social Security and Migration, José Luis Escrivá, advanced this Thursday that “practically” he has already reached an agreement with the European Commission on the elements that will make up the second leg of the pension reform.

During his speech at the III Finance Observatory organized by ‘El Español’ and Invertia, Escrivá pointed out that, for this reason, he has convened the negotiation table with unions and businessmen for tomorrow.

“We have convened the table for tomorrow and that should be understood as that we are practically already reaching an agreement with the Commission”, said the minister, who hopes to be able to close it “in the next few days” and even “tomorrow”.

Escrivá recalled that this reform must be completed in this first semester because it is associated with the fourth disbursement to Spain of European funds.

“I cannot anticipate the elements (of the reform) because the social agents have to know it first, but basically it is the closure of the system, of the complete sustainability of the system”, the minister assured.

Escrivá has pointed out that what he will propose to the social agents tomorrow “is an alternative, sustainable, reasonable and credible scheme, with the endorsement of powerful independent institutions”, so that the system is sustainable and at the same time maintains the purchasing power of pensions .

On the pension calculation period, an issue that he acknowledges has generated “enough friction”, the minister has reiterated that the idea is that it contemplates that current job careers are less linear than before and much more volatile.


Escrivá has reviewed the milestones of the pension reform, already materialized, related to the third disbursement, and on which Brussels has made a “very positive” evaluation, with “extraordinarily complimentary” phrases, as Escrivá has highlighted.

One of these two milestones, the minister recalled, is the reform of the Special Scheme for Self-Employed Workers (RETA), agreed with all the social agents and with the self-employed organizations and validated by the Commission.

“The fact that these long-term reforms are agreed upon is not valued enough,” lamented the minister, who criticized the fact that, having this social and Commission endorsement, the reforms that have been made with “frivolity” are questioned.

The minister described the 2013 reform made by the PP government as an “aberration” and recalled that the Pedro Sánchez Executive repealed it and replaced the so-called sustainability factor with the Intergenerational Equity Mechanism (MEI), which “tomorrow It will be fully discussed” at the negotiating table with the social agents.

The MEI, which came into force this year, establishes an overprice of 0.6% between now and 2032, although Spain was being asked from Brussels to extend it to 2050. The income that reaches the system through this system is destined to nurture the Reserve Fund of pensions.

Escrivá has highlighted that Social Security income is growing at a rate of 8.5% (excluding the new MEI contribution), employment is rising at 4% and wages are growing above 3%.

The second milestone associated with the third disbursement is the reform to promote employment pension plans, an issue “that had not been addressed for decades”, according to the minister, who has stated that, as a Bank of Spain official, he is in a collective plan of the institution and is aware of the differences with the individual plans.

“Collective employment plans were not well legislated, they were not sufficiently encouraged and they were cumbersome to create. Only large companies did it (…) For decades financial intermediaries have privileged individual plans,” warned Escrivá, who has He added that he expects the digital platform to learn about these plans to be ready “at the beginning of July.”


In the course of his speech, the minister highlighted the good progress of the labor market which, in the face of the “dreary winter” predicted by some, will “probably” lead to the creation of “at least” 250,000 jobs in the first quarter of the year .

Escrivá has indicated that companies are “doing well”, as shown by the data on deferrals of payments to Social Security, “at historic lows”. “We are 10% below the average of the last ten years,” she stressed.