The volume of assets in the individual pension scheme system in Spain increased by 1.1 per cent in May 2024, according to the latest figures from Inverco.

Inverco revealed that assets partly recovered from the €1.1bn fall in April, rising by €977m to €88.1bn during May.

The firm attributed the improvement to the positive performance of the financial markets in May.

So far this year, the assets of schemes in the Spanish individual system have risen by 3.7 per cent (€3.2bn).

Revaluation in pension scheme portfolios due to market effects increased the year-on-year returns of the pension schemes to 9.4 per cent, according to Inverco.

Variable income assets, such as equities, continued to deliver a strong investment performance, offering an annual return of nearly 20 per cent.

The returns in the medium to long term on schemes with a long-term time horizon remained positive, Inverco found.

For example, at 20 years, pension schemes were expected to register an average annual return of 2.9 per cent.

Meanwhile, in the medium term of 10 and 15 years, pension schemes were forecast to return 2.9 per cent and 3.8 per cent respectively.

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