Re: Shocking Scenes in Madrid.
 

But who wasn't better off 10-15 years ago? In 1970 my father started on the same salary a Chef is getting today. The reality is that nobody will get more than €800 pension, unless it's private.

Re: Shocking Scenes in Madrid.
 

One other problem might be that we have too many people studying. I agree that on paper it might look good, but we only need so many teachers etc.

Re: Shocking Scenes in Madrid.
 

Again, not true at all

The average state pension for someone retiring in 2013 in Spain was 1400 euros per month

Re: Shocking Scenes in Madrid.
 

Minimum Pension
Anyone retiring without having made the minimum of 15 years of pension contributions will get the bare minimum "welfare" pension which is currently set at 340€ a month (but paid 14 times a year so annually 4,756€ a year).

Contributory Pension
Having paid social security for 15 years (2 of which must have been in the last ten years before retirment) it is possible to claim a contributory pension based on a combination of the amount of years contributions and the amount actually paid, but there is a minimum which is considerably more than the welfare pension: 588€ a month or 8,229€ a year, rising to 10,152€ a year if you are married to someone who has no pension. Those who have made the maximum contributions can receive up to 35,000€ pa.

Boosting your Spanish state pension
As you get older and closer to retirement it is worth getting to know the way these contributory pensions are calculated if you are paying into the Spanish system, either as an employee paying social security or a self employed "autonomo" paying monthly social security contributions. This is because the system is always changing and is likely to do so again (e.g. the 15 years may well rise to 20 under current government thinking) so you don't want to be making your plans based on false assumptions. Also if you understand the different factors which affect the calculation of the pension you can plan accordingly.

There are two key factors: the number of years paying and the size of the contributions. The former is quite simple - your pension will be between 50-100% of the maximum for someone who has made your level of contributions depending on the years above 15 years and below 35 years you have been in the system. It works on a sliding scale of approximately 3% a year so someone who has paid in for 22 years gets 71% of the maximum for their rate of contribution. You can work beyond 65 to increase this percentage.

The level of pension then depends on your contribution rate - "base de cotizacion". Most people opt to pay the minimum social security they can e.g an autonomo pays social security at 29.9% of the contribution base which in 2011 is 850€ at its minimum (the one most people choose thus around 254€ a month) but they could pay a base of up to 3230€ and get a much higher pension as a result. It is something to consider if you know you are going to pay into the Spanish system for 15 years minimum - paying higher contributions for some of those years could dramatically increase your pension.

Re: Shocking Scenes in Madrid.
 

Don't know where you get your figures from:

According to the ministry of work and immigration, the average overall state pension – including those for disability, widows and widowers, orphans and retirees – reached 774.15 euros, which translates to a year-on-year rise of 3.4 per cent.

That was in 2010:rofl:

Re: Shocking Scenes in Madrid.
 

Agorrera posted it earlier (below)

http://noticias.lainformacion.com/ma...yWYHtT4oSfd92/

People who retired in 2013 get an average pension of 1400 euros per month

As your "cut and paste" hints at (but doesnt say). Anyone who earns over 40k per year gets the maximum monhtly state pension of 2500 euros per month - which is the maximum state pension

These are very dignified rates

Obviously people who have not worked and contributed to the system, or who were earning much less, get a much lower pension

I've discussed this at length with the head of social security in Asturias ;)

Re: Shocking Scenes in Madrid.
 

You have to read further and it's not actually the true average

Re: Shocking Scenes in Madrid.
 

It's the true average for workers who have paid into the system

Spain does not have a one payment suits everyone system like the UK. You get back what you put in - which seems entirely fair. After all, ahuge 30% of your salary goes to pay social security payments, so it is only right that the pensions are generous

Re: Shocking Scenes in Madrid.
 

What happens if you cop it before retirement, say you paid 8 out of 15 years and just drop dead ?

Re: Shocking Scenes in Madrid.
 

If you are dead then obviously you don't get paid a pension :D

Re: Shocking Scenes in Madrid.
 

C/man is cherry picking from his relatives (do people really discuss their income with the Son in Law:lol:)

Average pension nationally is now around €860 pm which means many people are getting much less..no help with rent either.

This from today's El Pais on latest pension figures doesn't look so good

http://ccaa.elpais.com/ccaa/2014/03/...html?rel=rosEP

Re: Shocking Scenes in Madrid.
 

Pensioners in Spain appear to live a very meagre life in Spain to UK pensioners. Don't forget that almost everyone who has worked in the UK has an additional pension, not so in Spain unless they were in public sector etc.

Used to see many Pensioners coming on trips from the north to CDS. They stayed in the cheapest hotels and looked quite poverty stricken compared with their British counterparts.
Never heard of the grey pound.

http://www.thisismoney.co.uk/money/n...-spending.html

Re: Shocking Scenes in Madrid.
 

Now who is cherry picking?

From my experience, I have been astounded at how rich (and healthy) Spanish pensioners are. Hence why I have mentioned it

Of course, there is a massive North South divide though. In Andalucia, almost none of the current female pensioners would have been paying social security in the late 1950s early 60s, which is why they dont have full pensions

However, if you have worked your whole life, then you are sitting pretty

My generation (and slightly younger) in Spain are going to have it really tough as there are 30 year olds who have never had a job, and they need to compile 40 years of contributions to get a full pension when they retire

Re: Shocking Scenes in Madrid.
 

There are non so blind......;)

Re: Shocking Scenes in Madrid.
 

In the video of the riot there is a guy throwing a plank, I wonder if it is Stevie?

This post is open to interpretation. Be aware.