Currently, 22% of the BAC’s adult population receives an old-age pension. In Navarre that percentage is 14%. According to the latest EITB data, old-age pensions account for 70% of the total spent on pensions.
In the past decade Euskadi has added to this 4,576 retirees per year. In total we have gone from 474,327 pensioners to 520,083, which amounts to a increase of 9.6%.
Navarre, In turn, it has employed 1,374 retirees per year, an increase of 11.7%, and the Spanish state, 83,869 (10.1%).
An increase that was especially significant among the retired retirees. This segment has grown in Euskadi 19.3%in Navarre a 22.2% and in the state a 17.4%.
There are currently 371,195 retirees in Euskadi, 22% of the adult population. In the case of Navarra, 14% of the population receives an old-age pension.
And it is that he 67% of pensions paid in Euskadi correspond old-age pensions23% corresponds to that of permanent disability and 7% to widow’s pensions. In Navarre, old-age pensions are 69%, disability pensions are 21% and widowhood pensions are 7%.
Eight out of ten have retirees 65 or older in Euskadi. It is the Autonomous Community with the highest percentage of retirees in that ratio (83.1%). In the state, this figure stands at 80.5%.
On the other hand, Euskadi has the worse ratio between workers and retirees. This does indeed exist in the Basque Autonomous Community 1.88 employees for every retiree. That is, for every retiree there are not two people with work. In NavarreHowever, there is 2.28 employees per retiree and in the state the figure is 2.33.
Projection until 2028
Finally, EITB Data has projected the photo that we will probably have this year in Euskadi and Navarra 2028. Both communities will significantly increase the number of retirees: Euskadi will have 20,218 more than now, and Navarra 8,000 more.
They represent 12% of GDP
To face this reality, Euskadi spends 12.4% of its GDP in the payment of old-age and widow’s pensions. A payout that has increased by almost one percentage point in recent years. In Navarre, 10.1% of GDP is spent on paying for it.
When compared with other surrounding countries, the Basque Country ranks only below France (13.8%) and Italy (13.5%) in terms of pension expenditure.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
