Planning the financial future also involves worrying about how to face the bumps that arise during working life and that often move away the idea of the golden retirement. An area that generates great concern, especially in a world where changes happen at great speed. Evidence of this is the reception received by initiatives such as those of labor lawyer Ignacio Solsona (Barcelona, 1985), known for his educational videos on retirement, pensions, and subsidies.
Read more Sonny Rollins: the giant of jazz who retired to play on a bridge
Planning is key to avoiding financial tightness, especially when setbacks such as disability or dismissal appear. “In Spain, ageism is a reality: once a certain age is reached, people do not find work,” he explains. Official data confirms that unemployment hits the senior group hard: around half of the long-term unemployed are workers aged 50 or over. Hence the existence of the subsidy for those over 52, which under certain conditions can be collected until retirement age and, moreover, “contributes better” than the Minimum Interprofessional Salary (SMI), the lawyer emphasizes. However, he maintains that “it is a necessary right.”
The benefit, however, can discourage job searching: “There is a portion of beneficiaries who, being able to work, will not do so and will take advantage of this right offered by the State to contribute for free and also receive 480 euros a month until retirement age.” In fact, the OECD is critical of the current design of the aid because, in terms of contributions, it states in an article, “the net gain from working can be very low” in jobs with low wages.
Still, Solsona recommends taking great care of contributions for the public pension payment, whose average amount is around 1,570 euros monthly in 14 payments, avoiding periods of inactivity or working without a contract as much as possible. “The trend is to worsen retirement conditions and other Social Security benefits. That is why, especially those of us who will retire in 20 years or more, should do mixed planning,” comments the lawyer, who shares his strategy to make his money profitable on the podcast ‘Bolsillo’. According to him, the most important thing is to start saving as soon as possible in a pension plan or a conservative fund.
Read more Bellvitge reduces the diagnosis time of pulmonary fibrosis from two years to six months
You can listen to the full interview with labor lawyer Ignacio Solsona on “Bolsillo,” a biweekly podcast that offers information, experiences, and advice to better manage the complex world of household finances. Subscribe or follow the podcast on audio platforms such as Spotify, iVoox, Apple Podcast, and Amazon Music.
Episode 107
Timeline
6:20 — What worries citizens most about retirement, subsidies, and Social Security?
7:22 — The risk of misinformation
10:50 — Recommendations for making decisions with criteria
11:45 — How to plan retirement well?
13:01 — A mistake that costs a lot of money in the long term
14:47 — When to start planning retirement
15:53 — The importance of contributions for employees and self-employed workers
19:41 — Mixed strategy to plan the pension
22:25 — How does Ignacio Solsona plan his retirement?
23:53 — EREs and dismissals: impact on retirement planning
25:55 — The two sides of the subsidy for those over 52
29:47 — How ageism affects retirement
31:11 — Requirements to collect the subsidy
33:39 — Denied disabilities and court rulings
39:06 — Early retirement: requirements and modalities according to work situation
40:27 — Trend to delay retirement and incentive measures
Read more A paraglider saves her life after being run over by a plane mid-jump
