With the cost of living rising across Europe, many Spanish retirees say that successive pension increases have little impact on their daily lives. What the Government announces as an improvement is, for many, just a temporary relief that does not compensate for the loss of purchasing power.
In Spain, the rise in food, energy and housing prices has particularly affected those who live on a fixed pension. In interviews published by the digital newspaper Noticias Trabajo, several pensioners confess that they feel that their money no longer reaches the end of the month.
One of the interviewees sums up the general feeling: “With the pension I received before, of just over 500 euros, I lived almost better than now. As everything has gone up, there is no longer money for so many expenses.” Others agree, noting that, despite annual updates, inflation continues to cancel out any real gains.
A man adds: “The more my pension increases, the less I earn. It’s clear.” For many, the value of the renovation may have increased on paper, but the purchasing capacity has shrunk significantly in recent years.
Inflation and lost purchasing power
According to data from the National Statistics Institute of Spain, the country has recorded one of the highest inflation rates in the last decade in recent years. Widespread increases in the prices of electricity and essential goods meant that pensions, even when updated, lost part of their real value.
Among those interviewed, there are those who remember that, a few years ago, the same money allowed filling the refrigerator and paying basic bills. Today, they say, it barely covers food and housing expenses. “Life has gone up more than pensions”, laments a 72-year-old woman, quoted by the same source.
Others add that the cost of monthly bills and purchases is the main cause for concern. “Before, I bought meat every week, now only once in a while. It’s impossible to maintain the same rhythm”, comments another pensioner.
Political opinions divide pensioners
Among the statements collected, there are also those who mention the role of different governments in the evolution of pensions. One of the interviewees states: “I’m not a politician, but if I have to vote, I’ll vote for the PSOE, which is the one who increases pensions.”
He recalls, with displeasure, the years of freezing of values: “What was shameful is that, in twelve years of PP government, they only raised us one euro or one and thirty a month. With Sánchez, with everything they criticize him for, at least he has been concerned about the pensioner.”
This type of comments reflects a common perception among some retirees, who recognize the limitations of increases, but also value the fact that they remain above inflation in some periods.
Importance of having contributed
Some interviewees also emphasize that the financial situation depends, in part, on the contributions made throughout the professional career. “If you don’t pay, you don’t get paid, and then they complain. You have to pay, that’s clear”, says a man.
Despite the differences, there is a feeling shared by almost everyone: the money from pensions is no longer enough to cover basic expenses. Electricity, water and gas bills increase, and the price of food products remains high, says the same source.
Many argue that a deeper review of support policies for the elderly is necessary. “There are a lot of people who really need their pensions to go up. That way we would live much better”, concludes one of the retirees.
Economic and social context
According to analysts cited by , demographic aging and pressure on the Spanish social security system represent increasing challenges. The Spanish Government has tried to ensure that reforms keep pace with inflation, but the effects are limited in the face of a general increase in the cost of living.
In Portugal, the scenario is similar. The increase in the cost of living has put pressure on thousands of retirees who depend exclusively on the public pension. According to Social Security data, more than 2.1 million Portuguese people receive an old-age pension, and around half live on less than 600 euros per month.
The Portuguese Government has updated pensions based on inflation, but several associations warn that increases do not keep pace with the real pace of prices. The National Confederation of Retirees and Pensioners has reiterated that “updates are insufficient to guarantee a dignified life”, especially in large cities, where the cost of housing and food is higher.
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