Galicia's Retiree Population Declines as Spain Sees Increase
Galicia's retiree population declines sharply while Spain experiences an increase.
Key Points
- • Galicia loses two retirees daily in 2024; Spain gains 230 daily.
- • Total pensioners in Galicia down to 485,955 by July 2024, a decrease of 466 from 2023.
- • Mortality rates among older adults contributing to the decline, especially in Lugo and Ourense.
- • Average pension in Galicia lower than national average, impacting retirees financially.
In a notable demographic shift, Galicia is losing an average of two retirees per day in 2024, contrasting sharply with the national trend in Spain, which has seen an increase in retiree numbers. As of July 2024, the number of pensioners in Galicia stands at 485,955, marking a reduction of 466 compared to the end of 2023. In contrast, Spain as a whole added 48,831 retirees during the same period, averaging about 230 new retirees daily.
The decline in retiree numbers is primarily concentrated in the provinces of Lugo and Ourense, both of which are the most aged areas in the region. Lugo experienced a loss of 517 retirees, while Ourense lost 203. However, provinces like A Coruña and Pontevedra experienced growth in their retiree populations, indicating that the decline may not be uniform across Galicia.
Historically, Galicia had seen a rising retiree count, with an increase of approximately 10,246 since 2020 and about 25,000 over the past decade. The recent downturn is thought to be linked to rising mortality rates among older adults, as 14% of Galicia's populace is over 75 years, with nearly 57,000 individuals exceeding 90 years.
Economic implications are significant, with pension disbursements reaching over 13.58 billion euros monthly, affecting retirement, widowhood, and disability pensions. Notably, the average pension in Galicia is 1,291 euros, which is significantly lower than the national average of over 1,500 euros, with Lugo and Ourense facing the lowest averages in the country. This situation presents ongoing economic challenges for retirees in the region, further complicating the impact of this population decline.