Do you have a Spanish pension? Spanish language Argentinian online newspaper, Infobae, identified just four countries in Europe where the state pension is enough to live off. And Spain is one of them.
That said, there are concerns about its sustainability with an aging population and more rapidly rising costs of living than previously. In fact a recent Unespa survey found that only 13% of the Spanish population believed that the state pension would be enough to maintain their standard of living after retirement.
But the average Spanish public pension exceeds the estimated annual expenditure for those over 65 by 3%, according to DataPulse Research, who found that the average pre-tax pension in Spain was €19,844 per year, while the average expenditure of a retiree is €19,349.
That puts Spain in a very privileged position in Europe, alongside only three other nations. Only Poland (4%), the Czech Republic (18%), and Romania (21%) share Spain’s status as having a “surplus”.
“This difference in favour of pensioners contrasts sharply with the reality in most of Europe, where state benefits do not fully cover the expenses necessary to live after retirement”, says Infobae.
See the article in Infobae here.