Retirees on €1,700 rents and overworked young people: Spain's generational divide
A €1,500 pension on minimal contributions, flats bought for €42,000 now rented out at €1,700: the 'langosto' case lays bare Spain's generational gap.
English · Original discussion in Spanish · Published
Retirees on €1,500 pensions after decades of minimal contributions: the Spain that outrages
The stereotype of the 'langosto' – a Spanish retiree collecting more than €1,500 a month after contributing the bare minimum for three decades – has become a symbol of the generational divide. The recurring image: two flats bought for 7 million pesetas in the 1980s, now rented out for €1,700 to a couple of engineers who work themselves to the bone. Meanwhile, the langosto strolls at a snail's pace through shopping malls, blocks the aisle, and heads to the bar at 8 in the morning for his first rum-and-coffee while young people drag themselves past with dark circles under their eyes, on their way to the office.
The pension that doesn't add up
According to the figures cited by critics, the average 'langosto' pension exceeds €1,500 a month despite decades of negligible contributions. On top of this comes property bought for a song – 7 million pesetas (about €42,000) in the eighties – that today generates rents of €1,700. Total income, combining pension and rental earnings, can reach €3,200 a month, far above the salary of a thirty-something engineer paying that very rent.
The resentment that keeps growing
"When you watch these videos you see reality for what it is," one comment sums up. "Don't feel sorry for the old folks, they have no pity for you." The divide isn't just economic: it's cultural. While the 'langostos' enjoy their golden retirements, young people pile up overtime in precarious jobs to pay for a damp, stuffy flat with woodchip wallpaper. And inheritance guarantees nothing: "The true langostos don't even leave inheritances – more and more of them end up selling everything and giving the money away to whoever comes along."
An unsustainable model
Spain's pension system supports a generation with low contributions and high benefits, funded by the payroll taxes of a younger generation that will struggle to receive equivalent benefits. Add to that the housing market, where property accumulated by the older generation acts as a barrier to entry for young buyers. The question hanging in the air is how long this model can hold without triggering a deeper social rupture.
The stereotype of the 'langosto' – a Spanish retiree collecting more than €1,500 a month after contributing the bare minimum for three decades – has become a symbol of the generational divide. The recurring image: two flats bought for 7 million pesetas in the 1980s, now rented out for €1,700 to a couple of engineers who work themselves to the bone. Meanwhile, the langosto strolls at a snail's pace through shopping malls, blocks the aisle, and heads to the bar at 8 in the morning for his first rum-and-coffee while young people drag themselves past with dark circles under their eyes, on their way to the office.
The pension that doesn't add up
According to the figures cited by critics, the average 'langosto' pension exceeds €1,500 a month despite decades of negligible contributions. On top of this comes property bought for a song – 7 million pesetas (about €42,000) in the eighties – that today generates rents of €1,700. Total income, combining pension and rental earnings, can reach €3,200 a month, far above the salary of a thirty-something engineer paying that very rent.
The resentment that keeps growing
"When you watch these videos you see reality for what it is," one comment sums up. "Don't feel sorry for the old folks, they have no pity for you." The divide isn't just economic: it's cultural. While the 'langostos' enjoy their golden retirements, young people pile up overtime in precarious jobs to pay for a damp, stuffy flat with woodchip wallpaper. And inheritance guarantees nothing: "The true langostos don't even leave inheritances – more and more of them end up selling everything and giving the money away to whoever comes along."
An unsustainable model
Spain's pension system supports a generation with low contributions and high benefits, funded by the payroll taxes of a younger generation that will struggle to receive equivalent benefits. Add to that the housing market, where property accumulated by the older generation acts as a barrier to entry for young buyers. The question hanging in the air is how long this model can hold without triggering a deeper social rupture.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (16 replies).
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