Last Thursday, December 14, Alumni University of Navarra and the School of Economics, together with the PlusValue securities agency, organized the event "Personal Finance: will there be pensions in the future?" The discussion paper ran to position of partner-Director Commercial of azValor, Beltrán Parages, who addressed the pension problem that Spain is experiencing.

During his speech, Beltrán Parages explained the problems that, in his opinion, jeopardize the sustainability of pensions. The evolution of the population pyramid, the short contribution period, high life expectancy, low private savings and inflation are some of the causes identified by the expert.

Parages assures that the pension system would need immediate reform and advocates a series of measures, including: transferring widowhood and orphanhood benefits to the general budget, the creation of a complementary default capitalization system and automating savings/investment.

Beltrán Parages is graduate in Business Administration from the Complutense University of Madrid and since July 2014 he is partner of azValor, a boutique of management dedicated to Equities.