Will housewives be expected to contribute to pensions?

The ‘Pacto de Toledo’ cross party commission on pensions has called for incentives for housewives to become pension contributors. Their final document agreed on Wednesday asks for a ‘fiscal incentive’ for housewives ‘not present in the labour market’ to still generate pension income.
The commission also noted the risks when youngsters remain out of work or in precarious employment, noting that this stops them accumulating pension years, and could result in their pensions being of a scant amount.
The document also notes that immigrants have to be guaranteed their own place in the labour market, along with the corresponding social protection. They say it should be easier to employ immigrant workers and for their integration into the Spanish system. They call for more inspections to ensure that there is no submerged immigrant economy, where they are marginalized and exploited, noting that there should be equality of treatment between Spaniards and legally resident immigrants.

Meanwhile pensions costs rose by 5% in December compared to last year at 6.867 billion €. The number comes from the Ministry for Employment, and shows that the number of contributive social security pensions reached 8,739,732. More than half that number are retirement pensions.

The cabinet meeting, moved to Thursday from the usual Friday this week, has approved a Royal Decree to reduce the costs of electricity. The reform will reduce the costs of the electricity system, and cut the difference between regulated income and costs, known as the ‘deficit de tarifa’. The objective is to save 4.6 billion over three years, 1.66 billion of them next year. It means a new toll on the power companies to finance their deficit, and the companies will now also have to help to pay for energy efficiency plans, such as the replacement of old electrical appliances, lightbulbs etc. The new law is approved without the support of the PP or the power companies themselves, against what the Government originally promised.
The Government also maintains a freeze on the access tariff in January and will absorb the corresponding increase in energy costs. However the new measure will have no immediate effect on the price to consumers of electricity which is expected to go up in January by 10%.

Low cost airlines operating in Spain have carried six million more travelers than traditional airlines over the first 11 months of this year. Low cost carriers saw 30 million passengers, 6.3% more than last year. Traditional airlines saw 24 million passengers, up 2.1% according to data from the IET Institute of Tourist Studies, part of the Ministry for Industry, Trade and Commerce.

Meanwhile Spanish air traffic controllers have reached an agreement to go to arbitration on the wages and conditions with AENA, the Spanish airports authority, if no deal is done by the end of January. (Details in a separate story on this site).

The number of hotel overnight stays rose by 7.2% in November compared to last year at 14.2 million. However the good news is tempered by the fact that prices fell by 0.6% over the year, the second year of reductions.

Banca Cívica has agreed early retirement for 1,100 workers in a process which will take two years to complete.

Banca Cívica has been created by the merger of Cajasol, and the Cajas from Navarra, Canarias, and Burgos. The measure will affect those over 55, who will be paid 83.5% of their gross wage.

Repsol has sold 3.3% of YPF to two investment funds for 381 million €, as it continues with a process of disinvestment of its Argentinean operation. The funds have been named as Capital and Eton Park.

Vodafone has announced a strengthening of their management team in Spain with the naming of Francisco Román as executive President. They are also bringing in a new CEO, Shameel Joosub, who comes from Vodacom South Africa.

Diesel prices have hit another year high at 1.16.6 € a litre. The price is 0.17% higher than a week ago, according to the EU Petrol Bulletin.

The OCU Consumers’ Union has warned that some of the typical foods of the Spanish Christmas have risen in price by as much as 50%. Sea Bream is 122% more expensive as are clams and barnacles. However prawns are only 16.4% more expensive than at other times of the year.


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