57% of the Babyboomers, those born in Spain between 1957 and 1977 and that are at the doors of retirement, confess that their only income when they are withdrawn will be the public pension, hence the existing fear to suffer cuts in the provision.
This is how it is clear from the tenth survey by BBVA de Pension Institute, presented this Wednesday by the entity, which is based on the result of 3,391 interviews conducted in the country between September 16 and October 7 this year, when I already He knew that the Minister of Social Security, José Luis Escrivá, was raised to carry out a cut in the pension of the generation of Babyboom or to propose them to retire later.
This proposal was finally rejected and, to replace it and be able to guarantee more income for the Social Security System, the Government has finally opted to raise the social contributions of workers and companies.
According to the results of BBVA, more than half of the respondents confessed then that they had no savings prepared for their retirement, hence the public pension will be their only income when the time of retirement arrives. 42% Yes, it has savings, but it will doubt whether it will be enough to meet your needs; While only 6% has enough savings for their retirement.
Of those privileged few who do have savings, most have channeled it through individual pension plans, whose tax incentives have now been cut in favor of employment pension plans. Some also have housing income (homes for ownership).
In fact, two out of every three interviewees believe that the amount that can be provided entitled to deduction in the IRPF, 2,000 euros in 2021, is "scarce". That amount in 2022 will fall to 1,500 euros, as it consists of the draft general budgets of the State.
Given the lack of income for that period, 62% of the babyboomers are willing to use their home as ADVAL if needed. This can be useful through instruments such as the reverse mortgage.
This generation is especially concerned about the system's ability to pay paying pensions, but only 50% of them would be willing to pay more taxes to finance the system. Although the half is not willing to contribute more, they think that pensions should be revalued annually (88% so believe it).
Although the system is delivered and that implies that the contributions of a generation are intended for the payment of the pensions of the previous generation, respondents by BBVA believe that each one should charge pension depending on what he has quoted.
73% maintains that "there should be a minimum of common pension for all pensioners, but from that minimum, that each person charged according to what has contributed to social security." 14% even say that "each pensioner should receive a pension strictly depending on what she has contributed."
Only 13% defends that there should be a universal pension for all workers, regardless of the quoted.
It is curious, however, that even though the majority of Spaniards receive much more pension from which it would correspond to them for the strictly quoted -Dado that life expectancy is much higher than retirement age-, 60% mistakenly believes What happens the opposite: that will have been quoted more than what will perceive in retirement.
Regarding the possibility of delaying retirement age - the legal age will be set in 67 years in 2027-, only 6% would accept to prolong their work life in exchange for economic compensation. On average, Babyboomers would like to retire at 63 years.
Date Of Update: 24 November 2021, 11:02
