Spain’s pensioners get income boost


AS the British Prime Minister, Theresa May, is being pressed on a daily basis to guarantee the current ‘triple lock scheme’ for pensioners should the Conservative’s be re-elected on June 8th, official data has been released showing the current amount being paid to Spain’s retirees.

Year-on-year figures show the monthly total of contributory pensions paid out by the Spanish Social Security system amounted to €8.71bn to the year ending April 1st – an increase of 3.13% over that 12 month period.  UK state pensioners have just received their annual increase of 2.5% under the triple lock method of calculation.

The average Spanish monthly retirement pension stood at €1,060.09, 2.04% higher than for the same period last year. The average pension from the Spanish Social Security system as a whole, which includes all the various types of pension available (retirement, permanent disability, widowhood, orphanhood, and those paid out to relatives), stood at €917.71 representing a year-on-year increase of 1.91%.

In summary, there are a total of 9,490,771 contributory pensions paid out each month – an increase of 1.2% on last year. At 5,802,753, more than half of these are retirement pensions, while 2,360,460 are paid to widows, 945,830 are permanent disability pensions, 341,186 are orphanhood pensions and 40,542 are pensions paid out to relatives.