Spain's pension system returns to 2.5 contributors per retiree thanks to migrant workers

Spain has restored a ratio of 2.5 workers contributing to the pension system for every pensioner, a level not seen since the 2008 financial crisis. The improvement is attributed largely to the recent influx of migrants who entered the labour market after a mass regularisation drive. Over 1.2 million foreign‑born workers are now employed, and of the 1.1 million regularisation applicants, half are under 35 and 81 % are under 45.

Experts stress that the boost provides only a temporary “breath of relief” for the pension scheme. Secretary of State for Social Security Borja Suárez said the country is “in extraordinary levels” and well‑positioned to face the upcoming demographic challenge, but warned that long‑term sustainability will depend on further reforms, productivity gains and better integration of migrant workers into the qualified labour force.