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The gap between new wages and new retirement pensions were reduced by half in a year

NEW EMPLOYMENT AND PENSIONS In euros Source: INE and Ministry of Labour, Migration and Social Security. THE COUNTRY In the era of the economi

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The gap between new wages and new retirement pensions were reduced by half in a year

NEW EMPLOYMENT AND PENSIONS

In euros

Source: INE and Ministry of Labour, Migration and Social Security. THE COUNTRY

In the era of the economic boom, the wages of the newly hired workers were higher than those of the one that came new to retirement. The crisis changed that, and in 2012, the pensioners, novices began to have better income than the newly hired. The gap came in 2016 to the 100,03€. However, in 2017, that gap is reduced, and in only a year is left in 46,6 euros, half. The reason is to be found both in the rises of wages (particularly the minimum) as in some moderation of the higher pensions.

The salaries of the newly hired workers grew in the past year. In the worst moment of the crisis, in 2013, the epicenter of the second recession in just five years, the salaries of those who had barely a year old at their businesses fell as much as 1.144,85 euros gross per month. After that, he began to recover, but in 2016, was interrupted the comeback. And they came down. And hence the gap with the new pensions came to exceed 100 euros.

last year, however, wages went up again. In particular, the salaries of the newly contracted amounted to € 1.271,89 euros gross per month, according to the statistics of wage deciles of the EPA. This increase in wages coincided, moreover, with the first big climb there was the minimum wage after quite a long time Ensobet frozen or increases very low: in 2017, increased by 8% per hit, up to 735 euros per month in 14 payments.

AVERAGE PENSION OF NEW RETIREES

per month

Source: INE and Ministry of Labour, Migration and Social Security. THE COUNTRY

Pensions moderate

The rise of salaries of rookies is the main explanation for the reduction of the less gap there is between the new salary and the new retirement pension in favour of the latter. But there is another: the pensions of those who begin to collect retirement are falling.

If nothing changes in the last two months of the year, 2018 will be a reduction of the average pension of new retirees. It will be the third year in a row that this happens from 2015, when it climaxed with 1.342,94 euros. Until then, the new services grew year after year, but have already begun to take effect the settings containing the latest pension reforms and, above all, have also come the consequences of the dismissals of workers in their past work life, that have not returned to work and whose pension suffers some impact.

Both factors explain that last year new retirees would receive an average pension of 1.318,47 euros a month and that in the first nine months of 2018 to continue the trend, with a provision of 1.306,84 euros, according to data from the Social Security.

This situation has coincided with the years of the deficit growing in the Social Security and, in part, be explained by this: the lower wages imply lower revenue for Social Security. Now job creation has driven the collection: until October the prices of the wage-earners grow at a pace of over 6%, which is also accompanied by a slight rise in salaries. Even so, the improvement in the fundraising is very far from being enough to close the red numbers of the institute to the public.

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