Worry over life after retirement rises in Spain

PEOPLE in Spain are increasingly fearful for their quality of life after they retire.

Fifty-seven per cent are concerned about retirement, a three per cent increase compared to June 2014, according to the report Barometer on Retirement Perception, conducted by the Aviva Institute.

The study compared how worried people in Spain are about the income they would need to live comfortably in their later years with the level of concern amongst other European citizens.

Interviewees aged between 35 and 44 years old are the ones who feel most worried about the issue, both in Spain and the rest of Europe. The results show that 61 per cent of people in Spain in this age group say they are very concerned, followed by those between 45 and 54 years old, 60 per cent of whom admit to being very concerned.

The report reveals that women are more worried than men, both in Spain and the rest of Europe, with 59 per cent confirming that they are worried, compared to 55 per cent of men. Across Europe as a whole, the difference is more significant, with 57 per cent of women and 51 per cent of men stating their concern.

Amongst those closer to the age of retirement, fears have increased dramatically, reaching 58 per cent, 10 points more than the figures registered in June.

Finally, the level of worry in families with small children has decreased during the past few months, both in Spain and Europe. Couples without children, and families with older children display a higher level of concern, the latter feeling the most worry (61 per cent in Spain and 59 per cent in Europe).