Only one in five Spanish have pensions

Recent studies show a drop in personal assets for the retirement age. Source: PxHere

ACCORDING to a study released by the Inverco Observatory, only one in five Spaniards had a pension plan at the end of 2018.

This figure relates to a total amount of €7.5 million, showing a drop by 3% over 2017.

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Inverco cite poor performances of the financial markets for the decrease in pension amounts, which on average equate to €9,543 per person.

According to the figures, Navarro contains the largest number of pension assets with an average of €14,212 per person, followed by the Basque Country, La Rioja and Madrid.

The numbers suggest a large disparity in the comparison between the national state pension and personal savings plans across the country, with the biggest savers concentrated in Madrid, Catalonia, Andalusia, Valencia and Castilla y León.

The director of Studies of the Inverco Observatory, José Luis Manrique wants to even out the spread of retirement wealth by encouraging workers from other parts of the country to contribute to a mixed pension plan.

At the other end of the scale, Murcia has recorded the lowest personal assets in the country, with just €5,621 per capita.



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