Javier Valle (VidaCaixa): "Espero que el próximo Gobierno incentive el ahorro a largo plazo"

Javier Valle, CEO of VidaCaixa, an affiliate of CaixaBank, highlighted the importance of encouraging long-term savings during his address at the XVII Financial Encounter organized by EXPANSION-KPMG. He emphasized the need for a political commitment to long-term savings, which would establish a long-term framework. Valle expressed hope that the next government would pursue this direction by incentivizing long-term savings.

He explained that saving is about sacrificing consumption today for security tomorrow, particularly for young people, freelancers, and collectives who face greater challenges in saving. He stressed the importance of regular and consistent savings and the need for citizens to have information about their pension expectations. Valle suggested that public institutions should provide such information to the public so that individuals can make informed decisions.

He pointed out that pension plans are crucial in building a widespread financial foundation, especially for those with limited resources. While this is not yet a common practice in SMEs, it is more prevalent in larger companies. VidaCaixa manages pension plans for the construction sector, involving nearly one million participants and nearly 100,000 companies, according to Valle.

He advocated for the automatic enrollment of workers into pension plans, similar to what is done in the United Kingdom. He recognized that this is a political decision requiring consensus, but acknowledged that Spain currently has one of the worst-developed complementary pension systems among the EU countries. Valle suggested that the types of savings products should be enhanced through more innovative approaches, including hybrid models combining asset management and insurance, which would make savings more accessible and attractive for customers.