Social Security creates a platform to project pension spending and guide future reforms

The Minister of Inclusion, Social Security, and Migration, Elma Saiz, announced this Monday the launch of the "Integras Model," a tool for projecting long-term pension spending and guiding future reforms that may need to be implemented. "Having a spending tool is essential for conducting a robust, data-driven exercise on the sustainability of the public pension system that utilizes all available information," Saiz explained at the opening of a course on the 30th anniversary of the Toledo Pact at the Menéndez Pelayo International University.

The minister emphasized that this is an "invaluable and pioneering tool for monitoring the sustainability " of the public pension system and "a powerful simulator for future reforms." She specified that this tool is "the result of the exceptional work of Social Security officials aimed at facilitating different spending scenarios for the pension system, something that has never been possible before." "This is excellent news because it will allow us to discuss a pension management system based on data , not prejudice," she added, after months of being highly critical of the assessments of the reform promoted by the former head of this portfolio, José Luis Escrivá.

The minister stated that the 30 years of the Toledo Pact have been a time of "work, perseverance, ambition, and consensus"; as well as "a vindication of useful politics at the service of citizens." "They are a source of inspiration and a guarantee that major reforms that are very important for all citizens can be carried out if there is a true will to do so," she emphasized.

Saiz pointed out that it was a historic pact and remains one of the great political agreements of Spanish democracy, comparable in the area of ​​Social Security to the well-known Moncloa Pacts. "The Toledo Pact is an unparalleled success story, which has proven its effectiveness in providing legitimacy and coherence to our pension system. It is the best lever for adopting the necessary measures to address current challenges ," he added.

At the start of the course, before which she did not make any statements to journalists, the minister met with the general secretary of the CCOO (Working Council of Workers' Parties), Unai Sordo. He is also participating in this seminar on the Toledo Pact. The seminar was also attended by the president of the CEOE (Spanish Workers' Party), Antonio Garamendi, who ultimately did not attend, according to sources from the employers' association confirmed to EFE. Elma Saiz asserted that the Spanish pension system is a global benchmark, as people outside the country are asking how it works and what the reforms entail, because "they want to do what is being done in Spain."

In this regard, he noted that talks will begin this year in the Congress of Deputies to assess the next changes to be implemented in the public system. "At the end of 2025, work will begin in Parliament on the next round of reforms to the current recommendations. The work of the Toledo Pact continues, and we certainly hope it will continue for another 30 years," he noted.