What Spain Could Learn from Nordic and Dutch Pension Systems
A closer look at the pension systems of Denmark, Sweden and the Netherlands reveals that these countries have spent decades building up robust collective savings funds, resulting in more stable retirement incomes for...
A closer look at the pension systems of Denmark, Sweden and the Netherlands reveals that these countries have spent decades building up robust collective savings funds, resulting in more stable retirement incomes for their citizens. Spain, by contrast, relies heavily on a pay-as-you-go model, in which current workers directly fund the pensions of retirees — a system that faces growing pressure as the population ages. For international retirees planning to settle on the Costa Blanca, it is worth noting that Spain has its own tax rules governing foreign pension income, which can vary depending on the country of origin and applicable tax treaties. Seeking independent financial and tax advice before making the move is strongly recommended. The debate around reforming Spain's pension model remains politically active and could have longer-term implications for both residents and expats.
Source: SpanjeVandaag
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Source: SpanjeVandaag