Workers encouraged not to retire but to carry on working

Minister Escriva
Minister Escrivá made the announcement Credit: La Moncloa flickr

IN a bid to postpone a further drain on the Spanish economy during this time of pandemic, José Luis Escrivá, the Minister for Inclusion and Social Security is encouraging those who are about to reach pensionable age to continue working.

By way of a bonus for those who decide to do this, he is offering a 4 per cent increase in the pension to be paid for each year of additional work that is undertaken, provided that those involved have contributed fully to social services during their careers.

-- Advertisement --

Whilst this is a positive way of saving money on one hand, with fewer jobs available for the young, there will be unemployment benefits to be paid, but it seems that calculations show that it is cheaper for the State to pay the young unemployed than pay full pensions to the newly retired.

Thank you for taking the time to read this news article “Workers encouraged not to retire but to carry on working”.


Please enter your comment!
Please enter your name here