Spain Business
Spanish retirement pension reaches 814 € on average
By h.b. - Jun 20, 2008 - 7:02 PM
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Latest data from the Ministry for Employment and Immigration, shows that the average retirement pension in Spain on June 1 was 814.42€ a month, 7.2% more than a year ago.
The average Social Security Pension, which also includes incapacity benefit, widowhood and other orphan and family benefits now stands at 719.58 € - up 6.9% on the year.
The total number of Social Security pensions reached 8,382,778, up 1.4% over the year, with about half of them retirement pensions.
The monthly cost to the state for the monthly pensions payment in Spain reached 6.03 million € on June 1, up 8.4% on the year.