World · Europe · 3 hrs ago

Spain’s over-65 population tops 10 million, adding pressure on pensions

Spain’s over-65 population tops 10 million, adding pressure on pensions

Spain had 10.18 million people aged 65 or older in January 2025, equal to 20.7% of the population.

The figure was more than 250,000 higher than a year earlier, and the share of older people has doubled since 1975.

Researchers project that nearly 30% of Spain’s population will be over 65 by 2046, with especially rapid growth among people aged 80 and older.

Spain’s pension system mainly uses current workers’ contributions to pay pensions, so fewer workers relative to retirees can strain its finances.

The growing number of older people adds pressure to pension funding, while new pensions are often higher than those leaving the system.

Employment growth and immigration may help, but an economist cited says they are unlikely to solve the long-term imbalance alone.

Spain may need higher productivity, employment and real wages to strengthen its ability to fund pensions; if population ageing outpaces economic growth, decisions on funding, working lives and public spending may follow.

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What people are saying

Francisco RodríguezUniversity of Granada economics professor and Funcas financial and digitalisation director
Population ageing is one of the greatest structural challenges of the Spanish economy.
via El Mundo
It is not only that we live longer, which is excellent news, but that the proportion of people of working age is declining in relation to the retired population.
via El Mundo
The fundamental issue is economic and not only demographic.
via El Mundo