Spanish pension scheme assets rose by €9.2bn in the second quarter of 2026 to €145.1bn, driven by portfolio revaluations, according to figures from Spain’s Association of Collective Investment Institutions and Pension Funds (Inverco).

The update also reported that the year-on-year return across all pension schemes remained positive at 11.5 per cent.

Over the medium term, schemes delivered annualised returns of 4.5 per cent over both the 10- and 15-year periods, while the average annual return over 26 years stood at 2.6 per cent.

Contributions to all Spanish pension schemes totalled €1.509bn in the first half of 2026, an increase of 8.5 per cent compared with the same period in 2025, when contributions totalled €1.391bn.

Additionally, contributions to the individual pension scheme system reached €688m, a similar figure to the €682m recorded in the second quarter of 2025.

At the end of June 2026, total assets for the individual system stood at €101.8bn, representing an increase of 7.5 per cent quarter-on-quarter and 5.7 per cent year-on-year. The total number of participant accounts reached 7.22 million.

The employment scheme, meanwhile, grew by 16 per cent (€110m). This was mainly driven by simplified employment plans, with contributions rising by 120 per cent compared with the first half of 2025, reaching €272m.

Meanwhile, the employment scheme assets stood at €42.4bn, increasing by 5.2 per cent quarter-on-quarter and 3.8 per cent year-on-year, with 3.33 million participant accounts.

In the first half of 2026, the volume of benefits paid out by all pension schemes fell by 19 per cent compared with the same period the previous year, due to a reduction in benefits paid out for special liquidity requests made during the period. Benefits totalled €2,325bn at the end of the second quarter of 2026.

At the end of June 2026, the number of member pension accounts stood at 10.6 million, an increase of 78,429. The assets held in simplified employment schemes totalled €952m across 50 schemes.

Meanwhile, the number of members with simplified employment pension scheme accounts stood at 1.17 million, an increase of 88,607 members so far this year.

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