Spain to see second-largest surge in pensioners among OECD countries

Spain is set to be the second country in the Organisation for Economic Co-operation and Development (OECD) where the proportion of pensioners will rise the most over the next 25 years.

According to the report 'Pensions at a Glance 2025,' published on Thursday, the ratio of people over 65 compared to those aged 20 to 64 is expected to climb from the current 35% to 74.4% by 2050.

This puts Spain well above the OECD average, where the ratio is projected to increase from 33% to 52% over the same period.

Spain's projected growth is nearly 40 percentage points above the OECD average, second only to South Korea, which will see its ratio rise from 29% to 74%.

The report also forecasts a 30% decline in Spain's working-age population over the next four decades, one of the sharpest drops among OECD countries.

The study attributes these trends to longer life expectancy and an "overestimation" of fertility rates.

In a separate report released this week, the OECD identified Spain as the second EU country, after Portugal, where costs associated with an ageing population are expected to rise the most, reaching 3.8% of GDP between 2024 and 2044.