Mallorca pension vote rejects privatisation push

In Palma, Mallorca, MPs reject pension privatisation: a switch to individual pension savings could hit the future pensions of more than 194,000 Balearic workers with permanent but intermittent contracts particularly hard. The Balearic Parliament votes on Tuesday to defend the public system, backing part of a motion from the socialist PSIB.

MPs reject a Vox proposal to replace public pensions with a system based on individual savings. They also oppose full or partial privatisation and urge the Spanish government to reject reforms that would cut future pensions, especially the lowest. The parliament wants annual pension increases to remain linked to the consumer price index to protect pensioners’ purchasing power.

The motion passes only in part. Left-wing groups back the approved points, while MPs from the People’s Party and Vox abstain or vote against them. Parliament does not endorse separate points recognising pension rises under governments led by Pedro Sánchez or the return of increases linked to the consumer price index.

MPs also decline to endorse a statement on the recovery of pension reserve funds. That part of the motion says the funds grew from €8,095 million at the end of 2017 to more than €15,200 million in April 2026.

Topics: Social affairs · Politics

Source: Europa Press / Mallorca.com