The economic crisis has made thousands of pensioners largely responsible for supporting entire families who only live on that subsidy that is given to the elderly once they stop working. Pensions are therefore an important income. But when are pensions collected? The State normally pays them on the 25th of each month but be careful because some banks advance payments in such a way that some pensioners can collect them from March 22nd.
Asturian pensioners are, on average, the second highest earners in Spain. Only behind those of another autonomous community in the north. The 1,272.35 euros of average pay in the Principality are only surpassed by the 1,343.31 of the Basques. This figure -the Asturian one- is almost 200 euros higher than the national average, of 1,082.98. In the Principality there are currently some 300,000 retirees. Their “payroll” add up to an amount of about 5,359 million euros, more than the regional budget.
According to data from the Ministry of Inclusion, Social Security and Migration, in Asturias 300,853 pensions were received this month – 0.19% more than a year ago – of which 183,167 are retirement pensions. The average pension in the Principality –including those for retirement, widowhood, orphanhood, permanent disability and in favor of relatives– has stood at 1,272 euros. The average pension has increased by 5.3% in the last year due to the increases approved by the Government and the greater amount of the new benefits.
Pensions rise and are revalued. And the government’s commitment is to continue maintaining this upward trend. In the last 15 years, the evolution of the average pension in Asturias has been exponential. This average -in gross euros per month- was 732.9 in 2005. Today it has grown by 74%, reaching 1,272.3.
The figure for the Principality contrasts sharply with other regions, such as Extremadura, where the average monthly pension is 902.79 euros, or that of Galicia, where this figure stands at 923.37 euros.
Annual adjustment of pensions to the CPI
The new mechanism established in the pension reform establishes that on January 1 of each year they will be increased in accordance with the average annual inflation registered in the previous year, while they will be frozen in the event that a consumer price index is registered (CPI) negative. For Escrivá, with the pension reform launched, the country is moving from “a framework that put the emphasis on cuts to another that guarantees purchasing power”, thus giving “absolute certainty to the 11.5 million pensioners who know that their pensions will be revalued with the average of inflation in November”.
Escrivá also advanced that Social Security closed 2021 with a deficit equivalent to 1% of GDP, two tenths below forecast, and expects it to be reduced to 0.5% in 2022.