Average value of new pensions awarded in July was the highest since December 2018

in News · 05-09-2020 10:00:00 · 0 Comments

The average gross value of the pensions of new old age pensioners at Caixa Geral de Aposentações was 1,332.8 Euros in July, the highest since December 2018, according to the budget execution summary.

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.


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