The main objective of this article is to determine, based on internal data, replacement rates for a defined benefit pension system, with two aims: the adequacy of pensions – measured in terms of the expenditure of retirees – and the sustainability of the system. For this purpose two instruments are used: the internal rate of return, and techniques based on systems of notional accounts. These figures, derived from internal data, will serve, by comparison with the replacement rate of the system, to assess whether the system tends more towards adequacy or sustainability. The system studied is that of Spain.

In Spain, part-time work is considered female, given that 73% of this type of work contract is carried out by women. The conditions for accessing and calculating the retirement pension for part-time workers have been modified in recent years. This has been the result of several judgments of European courts that conclude the existence of indirect gender discrimination. This paper analyses the measures that have been regulated after the aforementioned judgments to assess whether indirect gender discrimination has disappeared from the social protection system in Spain. This paper highlights the effect of the regulatory changes, some of them since 2019, and points out some pending issues, that if they were carried out, would ensure gender discrimination is effectively eliminated.

Retirement is one of the challenges faced by citizens and, of course, also faced by the self-employed workers. The peculiarities of these workers and their special social security system, such as choosing an annual contribution base, allow them to choose the best strategy to improve significantly their own retirement pensions. This paper shows that this flexibility makes the Social Security retirement pension in one of the most profitable investments. Afterwards we will show the winning strategy to get the best retirement pension, with a minimum cost. Alternatively, this flexibility can be seen as a way to identify the policy measures that would have to be modified to improve the fairness of the Social Security system.