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Collective Pension Plan Spain
 
Since the statutory retirement age for most occupations has in the meantime already increased to
67 years, there is a growing need for employees to contract a personal pension plan, so they might
start their retirement earlier and in any event will receive a higher pension than what the Spanish
government now promises.
 
Therefore repeatedly more employers choose to repay their employees a part of their pension
contribution and thereby stimulating their employees to build something of a pension fund
themselves. For the employer this turns out to be a motivation for their employees to stay working
for the same company and for the employee the deposit is fully deductible from their income tax.