The problem related to the pension system has worsened, despite the increase in the required age for retirement being avoided. Since the arrival of project 163 in the Assembly, an individual contribution model was proposed that would keep the Defined Stability and Benefits System (SEBD) closed to new contributors, which was not appreciated by the unions. Although not all proposals from workers and consultations conducted in the country could be included in the law, administrative aspects such as the powers of the director and the Board of Directors or the investment of the funds could indeed be considered.
At no time was the pension model called into question and no deputy spoke in favor of defending a solidarity system. However, the increase in age was rejected for fear of political repercussions. The government argues that the SEBD is not sustainable, which is why it was closed through Law 51. Some unions point out that around 300 countries that implemented individual accounts had to reverse course. It is unlikely that an administration will decide to change a pension system that is supposedly unsustainable for one that entails higher pensions.
It is evident that the increase in age does not constitute the real problem. The repeal of Law 17 in 2005 and the introduction of Law 51 created a mixed subsystem that experts from the CSS currently do not support, closing the possibility for new contributors to the defined benefit system. This has generated a lack of resources to pay pensions. It is crucial to focus on the system as a whole and be willing to make sacrifices to ensure its long-term viability.
The movement of unions against Law 462 of the CSS, which has led to a work stoppage and demonstrations across the country, demonstrates workers' concern about the pension system. Even though the increase in age has been rejected, doubts about the sustainability of the system and the need for deeper reforms persist. The lack of clarity around the problem and the reluctance to make sacrifices to ensure the viability of the pension system are issues that require urgent attention and a comprehensive approach.
