The PP will maintain the public pension system and will adjust it according to inflation, according to party sources. Additionally, they are studying a voluntary individual account similar to the Austrian backpack.
According to information provided by Artículo14, Alberto Núñez Feijóo is preparing to present the Popular Party's economic project for Spain. Regarding pensions, the party leader will commit to adjusting them according to the IPC. The party describes this as a non-negotiable commitment.
The consulted sources explain that the PP will defend the current system for both the elderly and the young without reforming it. Alongside Alma Ezcurra, Juan Bravo, and Alberto Nadal, deputy secretaries in the area, they are responsible for finalising the economic programme.
“Pensions will not be reduced nor will social contributions for workers be increased.”
The national leadership of the party has not detailed how it will address the ageing population, the retirement of the baby boom generation, and the increase in longevity. The same sources simply assure the public pensions.
“We will ensure public pensions for our elderly and young.”
The programme could include the Austrian backpack, which the PP already introduced in 2023. Regarding this measure, requested by various business sectors, party sources respond: “We are studying it.”
This will not be a general measure nor linked to pensions. It would be a voluntary option, with individual accounts that the worker could use for various contingencies in their working life, aimed at improving equity, efficiency, and productivity.
As will be stated in the economic programme unless there is a last-minute change, these accounts would accompany the worker throughout their working life. They would be funded by monthly contributions from companies, derived from a portion of the social contributions they already pay. Feijóo's economic team argues that the mechanism will enhance worker protection and eliminate barriers to voluntary job changes for those with greater seniority.
On the other hand, the PP aims to raise the deductible contribution limit for private pension plans. Currently, it stands at 1,500 euros annually, set in the last reform by former Social Security Minister José Luis Escrivá. Party sources confirm they want to increase this figure to 4,000 euros.
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