With inflation knocking at the door of households and the Consumer Price Index skyrocketing like never before, hundreds (or perhaps thousands) of households in Spain are awaiting the date to collect their pensions. Since the 2008 crisis hit Spanish households, leaving many in active search for employment, many workers wait each month for their parents or grandparents to collect their entitled pension in order to support the family economy.
In recent months, several banks (including many of those that were savings banks in their day) have decided to bring forward the collection day for pensions. Specifically, many have started to pay on the 22nd, almost a week earlier than other banks. It is a way to attract customers who often need this income for something as basic as paying bills such as gas or electricity which in recent months have been experiencing significant rises but which have finally exploded due to the high fuel prices generated by the Russian invasion of Ukraine.
Pensions vary greatly across autonomous communities
According to the latest statistics made public by the Social Security Institute, the amount you collect for the pension varies (greatly) depending on the autonomous community in which you live. Although this information has nuances. That is to say: the amount does not vary if you have worked in the same job and during the same years as another Spaniard living in another autonomous community. However, the scenario in each territory varies.
In fact Asturias and the Basque Country are traditionally the two communities where the highest pensions are collected. But this is related to the type of pensions paid. In the case of the Asturias, retirees who have worked for part of their lives in mining have a lot to do with the high payments in the autonomous community
What is clear is that one of the future challenges for the Toledo Pact (where all political parties are represented) is to guarantee the continuity of pensions in the future. Over the last few years, the central government itself has attempted to draw up different protocols and has promoted incentives for private pension plans to guarantee that people who are going to retire in the coming years (especially those of the so-called “baby boom”) will be guaranteed the right to a pension for which, in turn, they have been contributing to religiously for many years.
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