Concern about the future of pensions prompts some citizens to allocate a Most of your retirement savings Compared to what they’ve done so far. Specifically, A 23% From the money they saved … They leave it deposited in all kinds of products with a long-term view when it’s time for them to retire from the business, as shown in the last Inverco Observatory Which indicates that this percentage has increased by three points compared to two years ago, when 20% of savings were tied to funds allocated for retirement.
He also explained that the controversy surrounding the future of social security “permeates” among a segment of citizens angel Martinez Aldama, Director of the Inverco Observatory. Uncertainties about the amount of the future pension, the years of required contributions, or regulatory changes that may occur in the coming years, push a section of the population to save this money in the long term, when they stop working. “This move makes sense.”“Because we come from years where the main concern was saving money for unexpected events, but now we are looking more towards retirement,” they point out at Inverco, once we pass the stages where the annual CPI exceeds 8%, as happened in 2022.
Moreover, they are Spanish generation “baby boom”, Those born between the end of the 1950s and the beginning of the 1970s, and at the same time those closest to that moment of retirement, who show the most concern about their pensions. Of all their saved savings, they allocate A A third of them to confront The moment they stop working, they save approximately the same amount to cover unexpected expenses in their daily life. As for the rest of the younger generations, concern about pensions has fallen to third place in the “ranking” of needs to which they allocate their savings. Because having a surplus for unforeseen events remains the main reason that drives Spaniards to save, followed by the goal of making money grow without a specific purpose.
Especially in deposits
The fact that an increasing portion of the population is setting aside additional sums for retirement does not mean that they are doing so through financial products such as pension plans. In fact, the assets the Spaniards use the most to save are still the ones Bank deposits 87% Cases, according to the Inverco Observatory. Only later she retirement plans, It is a product contracted by 50% of those surveyed, although there is an important nuance: the individual contributions they make every year are smaller and in many cases do not reach the financial and tax limit of 1,500 euros. Now further funds Investment rented by 40% of the population; the procedures (37%) or insurance Savings (26%). In the past four years, the weight of deposits has increased slightly, while the weight of retirement plans has decreased.
Moreover, the proportion of savers who invest with them A horizon of more than three years The percentage is 51%, 16 points more than six years ago, which reinforces the trend towards financial planning and long-term investing that began in 2021. Those who do so with a horizon of more than five years are 33%. That is 11 points more than six years ago.
The saver profile in Spain is still basically… governorAs indicated by 57% of those surveyed. Only 11% are “dynamic,” meaning they take greater risks to obtain better returns at the expense of risk in the short and medium term.
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