Inmigración y pensiones: ¿qué sabemos?

Abstract

This article offers a survey of the literature that deals with the effects of immigration on the financial flows of pension security systems. It is usually argued that a selective increase of immigration flows helps to the financial equilibrium of the system on the medium term. The arrival of immigrants in working age improves the financial sustainability since delays the rise of the dependency rate caused by population ageing, but those immigrants also generate the right to future pensions. Over the long run, as immigrants adopt the demographic patterns of the native population, immigration cannot solve the financial problems that may be embedded in the current pension systems.