Items are a little stretched out but great value
The study shows clearly that only a small share of Spanish workers benefit from a retirement savings option offered by their employer. A company retirement plan is the most common option (74%), followed by pension insurance (45%).
Despite their limited presence, these programs are valued by workers who have them. Sixty-five percent of beneficiaries rate these solutions positively with scores between 7 and 10, and 77% of pension insurance users express high satisfaction. Among those with a company retirement plan, 60% are satisfied, while 55% express satisfaction among users of corporate social security plans.
Overall impressions are favorable from both users and non users. Only 11% of respondents said they would not divert any salary toward a retirement contribution if the option were offered, while 51% would invest part of their salary into such plans, contributing on average more than €1,700 per year.
A factor for attracting and retaining talent
There is a notable positive effect when companies offer retirement savings products. The employer employee relationship improves and loyalty grows, helping to retain talent.
Benefits extend to job satisfaction and engagement. Employees with access to retirement solutions report higher satisfaction with their job and employment status. In the NPS assessment, those with company retirement products show stronger loyalty than those without. It also becomes clearer in perceptions of workplace advice and the value of financial products offered by the employer.
When choosing a new job, 42% say that the presence of retirement savings options would influence their decision, highlighting the power of such programs to attract talent in a competitive market.
Retirement anxiety rises with age and becomes more pronounced after 45, yet there remains a sizable information gap about available options. In this context, retirement savings products receive strong endorsements from companies and are regarded as a key element in attracting and retaining talent in today’s competitive landscape. Juan Marina, director of Employee Benefits at Nationale-Nederlanden, notes the importance of these programs in compensation and protection for employees and managers.
The study “Social Security Barometer for Retirement” is based on 1,000 surveys of permanent contract workers at Spanish companies, including islands but excluding Ceuta and Melilla. Online interviews were conducted from a panel with quotas for age, gender, and autonomous communities, with a sampling error of ±3% at a 95% confidence level under simple random sampling assumptions.
Nationale-Nederlanden Spain
Nationale-Nederlanden, part of the NN Group, offers protection, retirement, and savings solutions to more than 850,000 customers in Spain. A team of 500 employees and 2,000 sales representatives serve customers through 39 offices, 167 Orange Points, and 8 franchises, delivering innovative products and services that align with real needs. The company aims to be a benchmark in customer experience within the Spanish protection market.
Nationale-Nederlanden Spain maintains a dedicated unit for employee compensation and protection solutions, Nationale-Nederlanden Employee Benefits, with more than 20 years of experience. It serves more than 9,900 clients safeguarding the futures of 15 of 35 IBEX-35 companies and more than 414,000 employees, including government agencies, multinationals, and small and medium enterprises.
About NN Group
NN Group is a multinational financial services firm active in 11 countries with a strong footprint across Europe and Japan. It provides pensions, insurance, banking, and investment services to roughly 18 million customers, and includes brands like Nationale-Nederlanden, NN, ABN AMRO Insurance, Movir, AZL, BeFrank, OHRA, and Woonnu. NN Group is listed on Euronext Amsterdam (NN).