The level of knowledge of the Spanish population about the operation and general performance of the pension system in Spain is alarmingly low. A study by You function reveals that “only one in eight people between 18 and 75 years (one in six men and one in 14 women) knows how pensions are financed and what the average amount of the retirement benefit is—the most frequent benefit in the system.”
This lack of understanding coincides with an increasingly aged Spanish population, where the number of individuals aged 65 years or more continues to grow. According to Eurostat data, children aged 0 to 14 years represented 15.2% of the population in 2014—just 0.1 percentage points below the European Union average. Fast forward to 2024, this demographic has decreased by 2 percentage points, now standing at 13.2%—1.4 percentage points less than the average amongst the 27 EU countries. While the child population has declined in Spain and across the EU, the adult group (15 to 64 years) has also reduced slightly, representing 66.4% of the population. Notably, the only age group that has increased in number is that of individuals over 64, which rose by 2.3 points, making up 20.4% of Spain’s population in 2024.
Despite the growing number of senior citizens , there is a disturbing gap in the knowledge that Spanish citizens possess about their pension system , which is crucial to the broader social security framework . Remarkably, two-thirds of the survey respondents believed that the retirement pension was “much lower” or “somewhat lower” than the minimum interprofessional salary (SMI) . Respondents were asked if the average retirement pension is above or below 1,200 euros , which is the approximate amount of the SMI in 2025. The results show widespread ignorance, as both the average retirement pension and the average pension were over the SMI at the time of the survey, yet most respondents “undervalue their amount.”
In addition to their limited understanding of financing and pension system performance , the respondents expressed concerns about the sufficiency of future pensions . A significant 67% of respondents indicated they were worried about their future pensions, with 31% stating they worry a lot and 36% moderately. Among those aged over 45, nearly 36% expressed being “very worried” that their retirement pension would not be sufficient to maintain a comfortable lifestyle, with an equal proportion being “somewhat concerned”.
Foreign Maternity in Spain
The low birth rate coupled with increased life expectancy—averaging 84 years —is troubling the demographic structure of Spain. Fewer children are being born, yet an interesting trend emerges: mothers of foreign nationality tend to have significantly more children than their Spanish counterparts. According to the latest data from INE , national women had 5.76 children per 100,000 inhabitants, while foreign mothers recorded an impressive 12.35 per 100,000 inhabitants in 2023—the most recently available figures.
This disparity raises questions about the implications for the pension system. With fewer Spanish births likely leading to a smaller workforce in the future, the financial viability of the pension system could be at risk. As the demographic pyramid tilts towards an older population, addressing these knowledge gaps regarding pensions and encouraging higher birth rates may indeed be vital for the long-term stability of Spain’s pension system.