Thursday, January 21

The places where pensioners charge more and less

Basque and Asturian retirees are those who receive, on average, a higher pension, more than 1,400 euros per month, while Galicians and Extremadurans are those who receive a lower retirement pension, less than 1,000 euros per month, according to Social Security data, dated November 1. For their part, Valencian retirees are the fifth that earn the least, only ahead of Extremadura, Galicia, Murcia and Andalusia.

Specific, the average retirement pension highest registered Basque Country, with 1,436.3 euros per month, followed by Asturias, with 1,407.9 euros per month; Madrid (1.366,8 euros); Navarra (1.321,2 euros); Cantabria (1.245 euros); Aragon (1,223.1 euros) and Catalonia (1.189,8 euros).

These seven communities are thus above the average retirement pension for the whole of Spain, which in November reached 1,169 euros per month.

Below this number but exceeding the level of ‘mileuristas’ are retirees from Castile and Leon (1,156.2 euros per month on average); The Rioja (1,117.5 euros per month); Canary Islands (1.087,7 euros); Castilla la Mancha (1.083,9 euros); Baleares (1.078,5 euros); Valencian Community (1,069.6 euros per month); Andalusia (1,054.2 euros), and Murcia (1,039.7 euros per month).

They close the table, as the only regions with an average retirement pension less than 1,000 euros per month, the communities of Galicia (984.94 euros) and Estremadura (969.58 euros per month).

How to calculate the retirement pension

The amount of the retirement pension depends on the contribution bases obtained in the years prior to leaving the labor market. This year the contribution bases of the last 23 years are taken into account, although in 2021 The last 24 years will be considered and in 2022, the last 25 years.

Once the contribution bases of the last 23 years have been added, that is, the last 276 months, the resulting figure has to be divided by 322, which is the result of multiplying the last 23 years by 14 payments, which are those that pensioners receive over the course of a year.

With this operation the regulatory base of the pension is obtained, on which the final amount of the pension will be calculated based on a series of percentages associated with the years of contributions. For example, with only 15 years of contributions (the minimum to be able to access this benefit), the retirement pension would be equivalent to 50% of the regulatory base. To be able to collect 100% of the regulatory base in 2020, at least 36 years of contribution are required.

However, there are limits to the minimum and maximum amounts of the pension to be received. In 2020 the pension cannot exceed 2,683.34 euros per month. For its part, the minimum amount will depend on the personal circumstances of each pensioner (if they have a dependent spouse, if they have a spouse but not dependent on them, or if they are a personal economic unit) and the age at which they access (65 years and over or less than 65 years). These circumstances make the minimum retirement pension vary from 604.4 euros per month to 843.4 euros per month.

The contribution base, which determines the regulatory base of the pension to be received, is the gross monthly remuneration that the worker receives, including prorated extraordinary payments. Therefore, the higher the gross salary, the higher the retirement pension.

Highest salaries by communities

If the salaries by communities are observed, a certain correspondence with the average pensions received by their retirees is observed, although not in all cases. Wages are strongly influenced by the productive structure, so that regions with a greater weight of industry tend to have higher wages than those that live mainly from the service sector.

The latest data from the National Institute of Statistics (INE), although they correspond to 2018, do place the Basque Country as the region with the highest average gross annual salary (28,470 euros per year), but not Asturias, but Madrid, with 27,010 euro per year. In fact, Asturias (23,914 euros) is in fifth position, being also surpassed by Navarra (26,636 euros) and Catalonia (25,552 euros).

In the case of the lowest average retirement pensions, which correspond to Extremadura and Galicia, it is observed that the former is the region with the lowest average annual gross salary (19,947 euros), but the same is not the case with Galicia as, with 22,244 euros a year, is above six other communities, always bearing in mind that the data correspond to the 2018 financial year. Despite this, the average retirement pension in this region does not reach 1,000 euros.

If we look at more recent data from the INE, those corresponding to the Quarterly Labor Cost Survey for the second quarter, the situation is similar: Madrid, the Basque Country and Navarra are the regions with the highest wage cost per worker and month, above the 2,000 euros, while Asturias and Catalonia are in fourth and fifth position.

The lowest wage costs are in the Canary Islands, the Balearic Islands and Extremadura, with between 1,282 euros and 1,533 euros, respectively, while Galicia is in the middle of the table, with 1,668.8 euros per month.

In addition to the years contributed and the salary received, it must be taken into account that not all pensioners retire when they reach legal age, but there are some who, if they meet a series of requirements, anticipate it, with the consequent reduction coefficient , which reduces the amount of your benefit.

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