The keys to successfully addressing the future goes through training, information and incentives
Increase the financial training from the earliest ages, be very clear about the situation of public pension system and inform citizens about the foreseeable pension that they will obtain in the future, together with incentives, are necessary levers to address the current situation that the Spanish public pension system is going through.
This will serve to find solutions that complement the public pension and maintain the purchasing level of workers once removed from working life, he said. Juan Fernández Palacios, CEO of MAPFRE VIDA, at the Ageingnomics meeting, organized by MAPFRE and Deusto Business School, in which the issue of pensions in the era of longevity has been addressed.
During this meeting, Juan Fernández Palacios He stressed that a possible solution would be that from the moment someone enters the labor market, they also adhere to a complementary forecasting system, as is the case in the United Kingdom. He also acknowledged that it is necessary to advance in a better balance between the public system and the capitalization system, and thus achieve greater income stability, and defended the validity of the Spanish public pension system that must be “solvent” “sustainable” and "That he pays the highest pensions he can afford."
In addition, he offered the collaboration of the private sector to manage and optimize employment plans, so that public and private systems work together for the benefit of society. For its part, Joseba Madariaga, professor at Deusto Business School and member of the Basque Economic and Social CouncilHe acknowledged that the current situation of Social Security deficit is "persistent" and that the most problematic will be in the middle of the next decade when the baby boom generation retires, because the number of people working for each retiree will decrease considerably.
Virgina Oregui, manager of Geroa, asked for a better taxation that prioritizes the model of joint savings between employers and workers, such as that carried out in this entity, to benefit the whole society since that savings is invested in local projects, which in turn, serves to improve society "We must act, we have to save, just as there have been changes in recent years, which we have internalized, we must also assimilate this reality", he pointed.
Asier Uribeechebarría, CEO and founder of Finanbest, insisted on the need to improve financial education and recalled that Spain has the worst pension plans of the entire OECD in terms of profitability and costs and that it is precisely before this complex situation in which digital models arise, which allow cost savings and make pension plans more efficient.
For its part, Patxi Sasigain, Head of Competitiveness and Innovation of AdegiHe acknowledged that young people do not now have among their priorities to save for retirement, since they face other types of vital situations, although it cannot be said that there is a disinfection to saving as such. Within the pension system, the public will continue to be the main pillar, but it will be inevitable to increase the retirement age and complement the public pension with private plans so that the Social Security deficit does not become something unassuming.
With this cycle of meetings, led by Eva Piera, general director of External Relations and Communication of MAPFRE, and Iñaki Ortega, director of Deusto Business School, it seeks to analyze the opportunities offered by the aging economy from different perspectives. Thus, for example, the autonomous car, the new jobs, the future of health in a connected world or the new profiles demanded by the digital era have been addressed. the role of training to provide these profiles with capacities adapted to the labor market or disruptive entrepreneurship.