Source: European Parliament
The Commission preliminary assessment of the fourth payment request[1] considered the fiscal sustainability requirements of the pension reform as satisfactorily fulfilled[2], noting that ‘the closure clause legislated as part of Milestone 409 ensures that corrective measures enter into force as soon as necessary so that the long-term fiscal sustainability of the pension reforms […] is preserved even under less favourable developments than assumed.’
The Commission has taken note of the decision by the Council of Ministers to amend Royal Decree 100/2025, which is relevant to the application of the closure clause, since it provides further specification to guide its calculation by the independent fiscal council Independent Authority for Fiscal Responsibility (AIReF) . The Commission is currently assessing the impact of the proposed amendments to Royal Decree 100/2025.
- [1] https://commission.europa.eu/document/download/e8b93743-5a80-4c10-9caa-4dabedc95728_en?filename=C_2024_4171_1_EN_annexe_acte_autonome_nlw_part1_v2_1.pdf.
- [2] These requirements are set out in the Council Implementing Decision: https://data.consilium.europa.eu/doc/document/ST-10150-2021-ADD-1-REV-2/en/pdf.