March 4, 2021

The average pension in the Canary Islands is 909.78 euros in July, 5.6% more – La Provincia


Thehalf board in the Canary Islands has stood at 909.78 euros in July,what a5.6 percent increasewith respect to the same month of the previous year, according to data published this Thursday by theMinistry of Labor, Migration and Social Security.

Thus, in the Canary Islandspension number stood at 325,435,which has implied a growth of 2.8 percent with respect to July of the year 2018.

MORE THAN 9.6 MILLION PAID IN PENSIONS

In the national group, Social Security allocated the record figure in Julye 9,662.13 million eurosto the payment of contributory pensions, 6.97% more than in the same month of 2018.

The growth of spending in July stands at 5.07% in homogeneous terms, that is, taking into account the final revaluation of pensions in 2018 (it was approved in July and applied retroactively to January 1).

Most of the9,662.13 million euros to pay the payroll of pensionsin July, he went to retirement pensions, with 6,878 million euros (+ 6.91%), followed by widow's pensions, to which 1,682 million euros (+ 8.7%) were dedicated.

938.6 million euros (+ 4.5%) were allocated to the payment of permanent disability pensions in July, orphanage amounted to 138 million euros (+ 5.1%), and family pensions totaled 24 , 6 million euros (+ 7.9%).

The number of pensions rose 1.2% in July compared to the same month of 2018, to 9,745,121 pensions, a new system record.

Although the annual growth rate of the number of pensions is not one of the highest in the historical series of the last decade, it has already accumulated 42 consecutive months of growth of over 1%.

Of the total pensions, more than half, 6,039,967, were retirement pensions, with a rebound of 1.83% compared to July 2018, while 2,361,900 were widow's pensions (+ 0.04%), 959,221 permanent disability (+ 0.56%), 341,333 orphanhood (+ 0.01%), and 42,700 in favor of family members (+ 1.97%).

THE MEDIUM RETIREMENT PENSION IS 5%

The increase in pensions this year (+ 1.6% in general) has also pushed up the average amount of benefits.

Thus, the average retirement pension stood at 1,138.75 euros per month at the beginning of this month, 4.99% more than in the same month of 2018. As for the new discharges, the average retirement pension (June) is of 1,318.95 euros in the whole system.

On the other hand, the average pension of the system, which includes the different types of pension (retirement, permanent disability, widowhood, orphanhood and in favor of family members) in July stood at 991.48 euros per month, which represents an annual increase of 5 , 7%.

The average widow's pension, meanwhile, has registered the largest year-on-year progress in relative values, 8.74%, to 712.51 euros per month, after the increase in the regulatory base on which this benefit is calculated since the 56% to 60%.

The permanent disability pension in July reached an average amount of 978.53 euros per month, with a year-on-year increase of 3.9%. On the other hand, the average orphan's pension amounted to 404.36 euros per month, 5.14% more than in July 2018, while that in favor of family members stood at 576.26 euros per month, with a rebound of 5.8%.

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