Occupational pension plans and individual retirement saving: complementary or substitute? Evidence from Spain

M. Mercè Claramunt Bielsa; Teresa Costa Cor; Maite Mármol Jiménez; Xavier Varea Soler

doi:10.26360/2026_05

Authors

M. Mercè Claramunt Bielsa Universitat de Barcelona (España) https://orcid.org/0000-0002-5184-9106
Teresa Costa Cor Universitat de Barcelona (España) https://orcid.org/0000-0002-9214-4751
Maite Mármol Jiménez Universitat de Barcelona (España) https://orcid.org/0000-0002-2246-3247
Xavier Varea Soler Universitat de Barcelona (España) https://orcid.org/0000-0002-3084-1957

DOI:

https://doi.org/10.26360/2026_05

Keywords:

Spanish Survey of Household Finances, household savings, individual private pension plans, occupational pension plans, logit, cluster

Abstract

The evolution of pension systems across Europe is influenced by the intricate dynamics among three pillars: public pensions, occupational pensions, and individual retirement savings. This paper examines the connection between the second and third pension pillars in Spain, utilising data from the Spanish Survey of Household Finances 2020. The study employs logit and cluster analysis to explore how the promotion of occupational pension schemes influences the uptake of individual private pension plans, with a particular focus on the reference person within households. Overall, the analysis emphasises the complementary nature of the individual and occupational pension pillars in Spain.

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