Nearly one in five people in the EU is aged 65 or older, yet in most member states, public pensions are insufficient to cover living costs.
A study by German research firm DataPulse compared annual pre-tax public pensions with estimated expenses for those over 65, placing Spain among the few countries where pensions are enough to live on.
Based on 2023 data, Romania tops the list, with pensions exceeding seniors’ average expenses by 21%, followed by the Czech Republic (+18%). Poland (+4%) and Spain (+3%) also show positive figures. In the remaining EU countries, pensions fall short of the typical costs for retirees.
Among EU countries, some show only slightly negative pension coverage, such as Bulgaria (-2%) and Denmark (-7%), while many others face double-digit shortfalls. Italy reports a -15% gap, Portugal -17%, and France -23%, three points below the EU average of -20%.
Nine countries have deficits of at least 30%, including Germany, Luxembourg, Norway, Cyprus, Slovakia, Hungary and Slovenia. Croatia records the largest gap, with expenses exceeding pension income by 40% for those over 65.
DataPulse Research reports that the average pre-tax EU pension is €17,300 per year, against estimated retiree expenses of €21,700, a net shortfall of €4,400. In Spain, the average pension is €19,800 versus €19,300 in expenses, leaving a modest surplus of €500.
Luxembourg tops the EU for average pensions at €34,400, followed by Denmark (€30,543) and Norway (€29,176), while Serbia (€4,239) and Bulgaria (€4,479) have the lowest nominal amounts.
More than 6 million pensioners in Spain
Pension spending in Spain reached a record in January, with €14,250.7 million allocated for regular monthly contributory pensions, 6% higher than January 2024 and the highest in the historical series, following this year’s approved revaluation.
The increase, initially rejected by the Spanish Congress but later enacted by government decree, applies to over 6.6 million retirement pensions and 1.5 million widows’ pensions, as well as permanent disability pensions (1,049,580), orphans’ pensions (318,163) and family pensions (46,352) within the Social Security system.