The average retirement pension in Spain has for the first time exceeded 1,000 euros per month

Older-spanish-CoupleThe average retirement pension in Spain has for the first time exceeded 1,000 euros per month and stood, at the beginning of July, at 1,000.54 euros, which represents a 2% increase over the same month of 2013, according to the latest contributory pension statistics published last week by the Ministry of Employment and Social Security.

Moreover, the average pension in the system as a whole, comprising the different classes of pension (retirement, permanent disability, widowhood, etc.) stood at 871.52 euros per month at the beginning of July, representing an annual increase of 1.7%.

In July the Social Security paid out a total of 8,021.5 million euros on contributory pensions, which is 3.1% more than in the same month of 2013, and a new record figure for the system.

The number of contributory pensions in the Social Security system reached 9,204,151 in the month of July, the highest figure to date, and an increase of 1.4% over the same month of 2013.

Of this figure, more than half – 5,560,266 – were retirement pensions, with an increase of 1.9% compared to July 2013, while 2,348,586 were widows’ pensions (+0.5%), 929,686 were permanent disability pensions (-0.6%), 327,126 were orphanhood pensions (+6.8%), and 38,487 were pensions paid out to relatives (+2.7%).

Europa Press reported that seven of Spain’s regions, plus Ceuta, exceeded the national average pension in July, set at 871.52 euros per month, with the highest pensions being registered in the Basque Country (1,077.34 euros per month), Madrid (1,031.36 euros) and Asturias (1,029.11 euros).

They are followed by Navarra (992.8 euros per month), Aragón (910.39 euros), Cantabria (909.56 euros), Catalonia (901.79 euros), Ceuta (899.72 euros), Castilla y León (852,50 euros), La Rioja (839.61 euros), Melilla (829.28 euros), the Canary Islands (812.25 euros), Castilla-La Mancha (810.05 euros), Valencia (802.49 euros), the Balearic Islands (799.62 euros) and Andalucía (789.74 euros).

In contrast, the regions with the smallest pensions were Murcia, with an average pension of 767.97 euros per month, Galicia, with 734.38 euros, and Extremadura, with 732.86 euros per month.

original article kyero.com

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