Wednesday, 22 May 2024
WorldThe pension 'piggy bank' adds up to 798 million in two months...

The pension ‘piggy bank’ adds up to 798 million in two months thanks to the new intergenerational equity mechanism

The pension piggy bank It now has 6,098 million euros, 798 million more than two months ago, coinciding with the end of 2023. The increase in reserves responds to the contributions of the intergenerational equity mechanism (MEI), which have risen with the turn of the year.

The Secretary of State for Social Security and Pensions, Borja Suarezexplained this Wednesday on his Twitter account that he hopes to end the year with around 9.1 billion euros, almost four billion more than in 2023. The estimates come after the meeting of the Secretary of State with the Reserve Fund Management Committee of Social Security.

The pension reform laid the foundations for the implementation of the intergenerational equity mechanism (MEI). This additional contribution will grow from 0.6 to 1.2 points until 2029, on a final basis, to nourish the Reserve fund facing the retirement of the so-called generation of the baby boomthat is, people born between the end of 1950 and mid-1970. The Minister of Inclusion, Social Security and Migration, Elma Saizannounced last January that its objective is for the fund to exceed 25,000 million euros when the legislature ends.

“We continue to make progress in strengthening the Reserve fundwhich is the clearest expression of the strength of the system and that gives confidence and certainty to citizens,” Borja Suárez detailed through the same social network.

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