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Mutual Benefit Fund for the airline industry

More than 27.000 members

Airline Industry Mutuality

Long-term savings product complementary to the state Social Security pension, aimed at employees in the Spanish aviation sector. The Mutual Benefit Fund is currently made up of more than 27,000 employees from leading companies such as Iberia, Lufthansa, SAS, Groundforce, EasyJet, Air France and KLM. We have been managing financial savings products for retirement for more than 50 years. In this time we have processed more than €1.6 billion in benefits (mainly for retirement, disability and death).

We address the needs of people who are active in this sector and who aim to maintain their standard of living after retirement. We also work closely with airline companies concerned about and interested in actively participating in the future assets of their employees.

Our Mutual Benefit Fund offers both parties the chance to participate in one of the largest portfolios of assets managed for social welfare (employment system) in Spain, with capital exceeding €1.2 billion.

Loreto Mutua

Why plan your future with us?

Management costs

Our management expenses are 2.5 times lower than the maximum legal allowed.


We ensure that our management is efficient and prudent in order to better protect your long-term assets.


We know the needs of airline industry staff. Our 50 years of experience have been dedicated exclusively to the management of savings for retirement.


Last 20 years, there has been a return on investment of more than 51% over the CPI on our members’ savings


By not being linked to any financial group, our investments are free from speculation and other interests.

Tax Advantages

You will be able deduct your contributions from the taxable base on your personal income tax return, as well as those made by your company, if this is part of its collective agreement.

Results 2022

Loreto Óptima
Loreto Empresas
Short Term Fixed Income
Long Term Fixed Income
Fixed Mixed Income
Equities Mixed
Employment System
Associated System

Data as of Dec 31, 2022 and past returns do not guarantee future returns.

Our products are among the most profitable in the last 20 years

Other figures 2022

Profitability -2,96%

Profitability last 10 years 3,16%

Profitability last 15 years 3,03%





Types of pension plans in Spain (Inverco)

Short Term Fixed Income
Long Term Fixed Income
Fixed Mixed Income
Equities Mixed
Employment System
Associated System

Data as of Dec 31, 2022 and past returns do not guarantee future returns.

Evolution of the nº of members

Accumulated Revaluation of the purchasing power of our partners in the last 20 years

Data as of Dec 31, 2022 and past returns do not guarantee future returns.


Product portfolio

Data as of Dec 31, 2022 and past returns do not guarantee future returns.

No Data Found

How does management expenses impact on your ability to save?

“You get the same final benefit with a smaller investment”  

Here, we compare the impact of the management expenses of our Mutual Benefit Fund (0.3%) with those of a plan that will apply the maximum allowed (1.30%). As this graph shows, to save a capital amount of €100,000 over 35 years at an average annual return of 5%, the savings effort of a Loreto Mutua Mutual Benefit Fund member would amount to only €60,933, 30% less than the capital needed to invest through an individual plan with the maximum management expense.