[F12] [Particulares - Pregunta solucion] I begin to think about my retirement pension - Do I have enough time for a good retirement?

Do I have enough time for a good retirement?

[F17] Navegacion - Seguros de vida familiar

[F28][Cita - Pregunta Solucion] I begin to think about my retirement pension - Do I have enough time for a good retirement?

To make a decision about how much you need to save today to have a good retirement tomorrow, it is important to know the size of the state pension that you will receive. Based on this information and an estimate of your needs in retirement, it is possible to establish a savings target that provides you with a supplement in the form of monthly income.

[F29][Respuesta Informativa - Pregunta Solucion] I begin to think about my retirement pension - How much money do you think you'll need when you retire?

How much money do you think you'll need when you retire?

[F29][Respuesta Informativa - Pregunta Solucion] I begin to think about my retirement pension - How much am I going to earn?

How much am I going to earn?

According to the Organisation for Economic Co-operation and Development (OECD), the retirement pension represents 82% of the final salary in Spain. The average for this rate, called the substitution or replacement rate, is 71% in Europe and 63% in OECD countries. The long-term forecast, according to the European Commission (EC), is for this percentage of coverage to fall to 40%, something that would imply retirement meaning losing 60% of your purchasing power.


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Source: OECD Data. Net Pension Replacement Rates

[F30][Columnas Informativas - Pregunta Solucion] I begin to think about my retirement pension - Do I have enough time for a good retirement?

How much should you save

Juan, age 30

Gross salary 24.000€
Savings No
Retirement age 67 ages

Retirement simulation

Income expectations 1.613 €/month
Pension first year 1.321 €/month
Gap first year 292 €/month

Monthly savings needed to meet these expectations

107€

See except details

See month details

Laura, age 45

Gross salary 30.000 €
Savings No
Retirement age 67 ages

Retirement simulation

Income expectations 1.941 €/month
Pension first year 1.748 €/month
Gap first year 193 €/month

Monthly savings needed to meet these expectations

179€

See except details

See month details

Annual increase 0,25%
Taxes 21%
Net return on investments 3%
Rate of percentage increase in standard of living 2,37%
Go to the savings calculator >

[F29][Respuesta Informativa - Pregunta Solucion] Empiezo a pensar en mi jubilación - ¿Cómo puedes ahorrar?

How much am I going to earn?

The best way to save is to be constant. Being in the habit of saving and having time on your side mean that the effort to reach the target will always be less. There are different ways to save for the future. There are different ways to save for your future, such as pension plans, systematic individual savings plans (PIAS) and individual insurance policies for long term saving (SIALP).

[F23][Productos - Pregunta Solucion] I begin to think about my retirement pension - Do I have enough time for a good retirement?

Recommended products

Pension plans

Generate savings for your retirement that will supplement your state pension.

Availability

On the date of retirement, although it can be brought forward in other specific situations.

Other benefits

Important income tax savings.

Systematic Individual Savings Plan (PIAS)

Through flexible systematic contributions, the holder can generate capital for the future. The return will be based on the linked investment.

Availability

Immediate. It allows partial and full redemption, and the redemption value will be based on the market value of the investment.

Other benefits

Important tax advantages if a life annuity is chosen, at least 5 years after the first contribution.

Individual Insurance Policy for Long Term Saving (SIALP)

Through systematic and flexible contributions, the holder can generate capital for the future. The return will be based on the guaranteed technical interest rate.

Availability

Immediate. Only full redemption is allowed.

Other benefits

Important tax advantages if, at the time of redeeming the capital, at least 5 years have passed since the first contribution.

Asset Publisher

Other frequently asked questions

Since 1 January 2013, the time of retirement has depended on the age of the person concerned and the social security contributions accumulated throughout their working life. The retirement age in Spain will gradually increase until 2027, when it will be 67 years old. In 2018 it will be 65 years and six months old for a full pension.

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You have the option to pay your own social security contributions through special agreements to maintain all of your pension rights. Talk to an advisor.

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The deceased person must have been signed up with the social security and be proven to have contributed over a certain period. The calculation depends on the status of the deceased (active worker or pensioner) and the cause of death (common or professional cause). Seek advice.

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[F8][Destacado] All about retirement

[F8][Destacado] Visualiza tu futuro

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[F11] Why VidaCaixa

Why

More than 100 years of experience in retirement

We have been helping people prepare for their retirement and offering personalised advice for over 100 years.

We are leaders

VidaCaixa is the largest insurance group in the country and first in the life insurance and pensions rankings.

Committed to our customers

We are the private entity that makes the most payments: about €4 billion each year.

We are the best pension fund manager

The quality of our management can be seen from the more than 25 internationally prestigious awards, including best pension fund manager, and the trust of so many customers.

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