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The state pension scheme is part of the Social Security system in Spain. There are two categories of pension in Spain: contributory and non-contributory. The pensions system is financed by a payroll tax on salaries. The employee pays 4.7% of their salary while employers must pay the equivalent of 23.6% of an employee's salary into the scheme. [1]
DGFSP's headquarters, Madrid. The Directorate-General for Insurance and Pension Funds (Spanish: Dirección General de Seguros y Fondos de Pensiones) (DGSFP) is the Spanish government's financial regulatory department that supervises and controls Spain's insurance and pension fund sector.
Starting in 2000 and until 2008 the Spanish government paid 45 Bn euros into the fund while investment income from the fund reached a total of 17 Bn eur. [4] The economic crisis caused a significant reduction in employment and a similar fall in payroll taxes leading to a social security deficit. In 2012 and 2013 the government tapped the fund ...
The Secretary of State for Social Security and Pensions (SESSP) is a senior minister of the Government of Spain, under the authority of the Social Security Minister, responsible for the direction and guardianship of the managing agencies and common services of the Social Security; the impulse, direction and economic and financial analysis of the Social Security System; as well as the planning ...
The social security system (Spanish: seguridad social) in Spain is its principal system of social protection.The concept of social security first appeared in Spain in 1883 under the Committee for Social Reform, it was expanded several times during the twentieth century and finally the right to social security was enshrined in the Spanish Constitution of 1978 under Article 41 which states "that ...
Mandatory occupational pension provision: Voluntary private collective pension provision; Voluntary private individual pension provision Georgia: Basic pension: N/A: N/A: N/A Germany: Social assistance: Social insurance system: Voluntary occupational pension insurance: Private pension schemes Hong Kong: Basic pension: Provident fund system: N/A ...
The Spanish social welfare program can be separated into three categories or fundamental pillars: education, health, and pension system, as established in the Spanish Constitution ratified on December 29, 1978. It relies especially on Article 27 on education, Article 41 on the social security system and Article 50 on the pension system.
View a machine-translated version of the Spanish article. Machine translation, like DeepL or Google Translate, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Wikipedia.