In July, Caixa Geral de Aposentações (CGA) had 1,452 new old age pensioners, reflecting a year-on-year increase of 43.3 percent, according to the same information provided by the General Directorate of Budget (DGO).
In that month, the average gross value of new pensions awarded was 1,332.8 Euros (up 1.7 percent year-on-year), the first time in 2020 that the 1,300 euro barrier has been crossed.
The average value of the pensions awarded each month depends on several factors, including the remuneration of civil servants entering retirement or the existence of early retirement penalties before the legal age to do so.
DGO data show that between January and July there were only three months (April, June and July) when the average value of new pensions rose year-on-year. For the rest, the comparison was negative.