The Spanish pension system has emerged as a central issue in the pre-election period following the announcement of early elections on November 29. Political debate now centers on whether the current state-run model requires minor reforms or a fundamental structural overhaul.
Vox deputy José María Figaredo described the current pension framework as insolvent, arguing that no effective corrective measures have been implemented in nearly 30 years. This claim contrasts with several legislative changes enacted since 1996, including raising the retirement age to 67 and adjusting calculation methods to control spending. Figaredo advocated for a transition to a mixed model incorporating individual capitalization, citing examples from other European nations. Critics note that European countries with capitalization components maintain their public systems rather than privatizing them.