The average retirement pension in the Canary Islands will be increased from this month by 98.08 euros, after the revaluation of 8.5% for this 2023 of pensions according to the Consumer Price Index (CPI) approved by the Government of Spain in compliance with Law 21/2021.
According to the data of the Ministry of Inclusion, Social Security and Migration, this increase raises to 1,263.40 euros the average retirement pension in 2023 in the Canary Islands, 1,280.10 euros in the province of Las Palmas and 1,243.23 euros in the province of Santa Cruz de Tenerife, and compared to the 1,036.34 euros on average that retired people in the Archipelago in 2018.
The average monthly pension is 1,082.53 euros in the Canary Islands (1,099.46 euros in the province of Las Palmas and 1,063.81 euros in the province of Santa Cruz de Tenerife), which represents an increase of 9.47% more than in the previous year.
“This increase is nothing but the materialization of the commitment to maintain the purchasing power of pensioners and pensioners as an unbreakable right, even and, above all, in the most complicated circumstances, such as the current level of inflation propitiated by the war initiated by the regime of Vládimir Putin,” says the government delegate in the Canary Islands.
“This revaluation has been implemented with maximum social and political legitimacy, following the recommendations of the Toledo Pact of the Congress of Deputies and the great agreement with the social partners of 2021, signed in the Palacio de La Moncloa.” And always working intensively to strengthen one of the main assets of our welfare state, such as the pension system”, he adds.
More than 300,000 pensioners in the Canary Islands
As of January 1, 2023, the Social Security system had 350,321 pensions in the Canary Islands (corresponding to 326,553 pensioners), of which 14,280 receive the supplement of contributory pensions for the reduction of the gender gap, which seeks to repair the damage suffered by women throughout their professional career by assuming a main role in the care of children projected in the field of pensions.
In addition, according to the data as of January 1 of this year, 97,516 pensions in the Canary Islands (27.8% of the total) are increased by the minimum supplement, the complementary amount that is added to the amount of the pension, in its contributory form, when it does not reach the minimum legally established.