BEFORE starting to talk about pensions, it seems logical to define what they exactly are. Dictionaries define pension as “the annual sum of money granted to someone either by the works or services he has performed or just because of someone’s graceful intention”.
There are two types of pensions within the Spanish system:
Contributory pensions.-
The Social security
On the first of June 2005, there were 7.947.278 pensioners for all the schemes, and the average pension was 610,77. The largest scheme is the general one, with a total of 4.523.118 pensioners and an average pension of
As for the average pension, the first place is for coal mining scheme, with a
Within the Social security
NOTE. In the
We should not forget the mandatory disability and old age insurance (SOVI) scheme, since it covers retirement, widow
It must also be highlighted that the total number of pensions within the general system, if we count all the schemes, reaches 7.947.278, which represent a cost of 4.853.997. The average pension is 610,77.
The source of all these figures is the web page of Spanish Social security body (Seguridad Social-Inserso).
Antonio Lozano
Vice-President of the Group - Spain