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.
How much money do you think you'll need when you retire?
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.
How much should you save
Juan, age 30
Retirement simulation
See except details
Laura, age 45
Retirement simulation
See except details
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).
Recommended products
Pension plans
Generate savings for your retirement that will supplement your state pension.
On the date of retirement, although it can be brought forward in other specific situations.
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.
Immediate. It allows partial and full redemption, and the redemption value will be based on the market value of the investment.
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.
Immediate. Only full redemption is allowed.
Important tax advantages if, at the time of redeeming the capital, at least 5 years have passed since the first contribution.
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.
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.
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.
All about retirement
in Spain
Find all the answers you are looking for
on how to prepare for your future
10 claves para reflexionar sobre tu jubilación
Ahora es el momento de planificar tu futuro para que puedas disfrutar al máximo de tu jubilación
EmpezamosSubscribe to our newsletter
You will learn how to have a worry-free future
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.
More information