English
Español On the 14th and 15th of January, respectively, the encounter entitled "Save now as not to regret it afterwards" was held. In this encounter, top-level speakers participated, such as Enrique Marazuela, Agustín Vidal-Aragón and the San Telmo Business School professor, Francisco J. Caballero.
The main topic of this encounter was that of personal saving, a key aspect to maintaining living standards post-retirement. What can be expected of the Spanish pension system? And with regard to mandatory pensions? These were some of the questions that were raised throughout this session.
Agustín Vidal, Director of Pensions and America Insurance at BBVA and academic collaborator with San Telmo Business School, described the fundamental features of the mandatory pension system, which he grouped into three pillars: Social Security, company contributions and individual contributions. In conclusion, he stressed that the instruments to channel savings for old age have advantages and disadvantages. In this regard, he added that they are more general in nature and adapt, in a limited way, to specific individual needs.
"Tailor-made suits" is how Vidal defines the investment in real estate or financial assets. The construction of portfolios of efficient financial assets, in the economic situation and the current financial markets, implies defining perimeters of global action in terms of geographies and asset typologies.
There was also time to highlight the main key aspects of retirement, among which were: The importance of planning alongside economic and financial perspectives. In the first block, our speakers encompassed issues such as taxation, the importance of the period of time available and inflation, which they consider "a major enemy" that plays a fundamental role and has a direct negative effect on investments and purchasing power
Agustín Vidal concluded his address by adding that he expects everyone to obtain a mandatory contributory pension system that is sustainable and self-sufficient, with a dynamic adjustment and management mechanism in the long term, although this will require significant temporary exertions.
