
Which countries have the highest pension in spaniardic?
- July 24, 2021
Spain is the most advanced in Europe in the provision of a pension to its elderly, a report by the World Bank found, but this may be partly because of the country’s high rate of participation in European and OECD retirement schemes.
The report, which was published on Wednesday, said Spain’s population is ageing but that its pension systems were not doing enough to provide adequate retirement income for its citizens.
The UK and Ireland have also benefited from generous pensions, with more than 90% of those eligible in the UK receiving a pension.
In fact, according to the Worldbank, Spain has the highest level of participation of any country in the European Union, which means that its elderly are receiving pensions at rates higher than the rest of Europe.
The World Bank report said that the average monthly pension in Spain was about €1,800 ($1,865) in 2015, but only about half that in Germany and Greece.
This difference is due to Spain’s high participation rate in the EU pension scheme, with the highest rates of participation for those aged 65-64 in both countries.
The survey found that while participation in Spain’s social security system is fairly low, the pension system was very generous, providing €7,900 ($9,050) per month for every person over 65.
This included the average pension of €1.1 million per year for the elderly, up from just €750 in 2007.
The average pension in Ireland was €2,900, which included the benefit of the age pension.
Spain has also the highest participation rate for the oldest of the elderly in the OECD.
This includes the participation rate of 90% for those over 65 in Spain, which is well above the European average of just over 55%.
However, the OECD said that Spain’s participation in the system is not a reliable indicator of its pension system.
This was because the participation of older people in Spain does not include pension entitlements such as health insurance, which can vary widely across the country.
The OECD report said Spain also lags behind the rest, with just 8% of the population receiving a state pension in 2015.
However, with an average pension and an average participation rate, Spain’s system is in a far better position than other countries.
It has about half of the countries in the world at least as generous as Spain, and is also one of the best performing economies in the area.
The data comes as the European Commission and the European Central Bank are set to announce a plan to introduce a new, universal, single European pension system on October 31.
The plan is due for public debate in December and could pave the way for the introduction of a universal pension scheme for all EU citizens, with a single national pension fund for all.
However the plans will be subject to political and legal challenges.