Retirement

Nearly half of Spanish millennials (the generation born between 1978 and 1999) think that when they retire there will be no social security pension waiting for them, according to the BBVA pension institute's ninth annual survey. This helps to explain why three quarters (76%) of millennials believe the pension system needs a rethink. Only one in six respondents had started saving for retirement. Of those few, most use individual pension plans.

The 7th Survey on the Saving Habits of the Spanish Population; prepared by Instituto BBVA de Pensiones-Mi Jubilación (BBVA Retirement Pensions Institute – My Retirement), focuses on the Spanish baby boomer generation. The survey offers very revealing insights into the perception that people born between 1957 and 1977 (aged 42 to 62) have about their financial standing regarding their retirement. Elisa Chuliá, a member of the Forum of Experts of the BBVA Retirement Institute has taken a deep look a the survey’s results to narrow down the financial traits that define this generation.

Japan and Spain, the countries with the world's highest life expectancies lag furthest behind when it comes to retirement planning, according to a study prepared by insurance company Aegon International. The experts warn about the enormous challenges posed by an aging population and the risks associated with not saving for the future.

Business owners have a responsibility to ensure quality services to their clients in order for their operations to thrive. For a majority of business owners, their business is what makes up most of their income and subsequently their net worth.

Unexpected life changes occur frequently, and with them come ripple effects that uncover even more twists and turns. The effects could be costly for your family – especially if you’re not around to help.

Saving for retirement is a challenge, particularly when it’s far off. However it’s in your interest to plan for it to avoid stress and assure yourself adequate income when the time comes.

Over the past three years, the asset allocation team of BBVA Asset Management has overhauled its investment process to bring as much objectivity as possible to decision-making when building a portfolio. Based on the principles of behavioral economics, the new process aims to determine how the power of the mind affects financial decisions.

The European Union has finished the first half of its match to create a common capital market among the 27 EU member states. But there’s still a second half ahead, with obstacles such as how to continue the project without the United Kingdom.

The debates about potential impact of ageing for institutions and economies, the fiscal sustainability of the pension and welfare systems are based on a convention that was established one century ago: the definition of 65 years as the fixed threshold at which old age and economic dependency begins.

On 2014, a series of standards were passed that aimed to significantly boost financial inclusion levels. The initial and pivotal element was the Financial Inclusion Act, which builds on three pillars:

Rising life expectancy, longevity, is a relatively recent phenomenon dating from the 19th century. Until then, for nearly 60,000 years, the life expectancy of humanity remained relatively constant. There is some evidence that increased life expectancy is a permanent phenomenon, with the implications that this might have not only for pension systems, but also for the organization of societies themselves.

BBVA has been chosen as one of the best multinational workplaces in 2015 in the annual ranking prepared by the prestigious international consultant Great Place To Work®. BBVA is considered the best multinational workplace in the financial industry and is ranked eighth among the 25 best places to work in the world.  The list is headed by the tech companies Google and SAS Institute.