For all the talk of how much immigration has helped bolster the coffers of Social Security, the reality is that everyone who pays into social security will expect a pension (eventually) – and this is looking ‘very complicated’: the Court of Auditors is warning of a “hole” (its words) in pensions of €14.7 billion by 2042. It’s a large amount, for which the court has apparently given the government a set of ‘recommendations’ on how to “correct problems and improve the situation”. The Portuguese association of taxpayers says the news points to anyone currently in their 40s unlikely to be able to plan for a pension that will reflect more than 40% of their claimed pre-retirement salary.
Court of Auditors warns of looming €14.7 billion pensions black hole
