The average pension has gone up by 98 euros in January and stands at 1,263 per month

The average retirement pension in the Canary Islands will increase by 98.08 euros for the month of January, after being revalued by 8.5% for 2023 in relation to the Consumer Price Index (CPI), which means the average is now 1,263.40 euros in the Archipelago.

This revaluation was approved by the Government of Spain in compliance with Law 21/2021 which is in place to face inflation. According to data from the Ministry of Social Security, in the case of the province of Santa Cruz de Tenerife, the average pension is 1,243.23 euros, while in Las Palmas it stands at 1,280.10 euros,

As for the average monthly pension in the Canary Islands in 2022, this has been estimated at 1,082.53 euros (1,063.81 euros in Santa Cruz de Tenerife and 1,099.46 euros in the province of Las Palmas), which implies an increase of 9.47% more in relation to 2021.

326,000 PENSIONERS IN THE CANARY ISLANDS:
As of 1^st January 2023, there are 326,553 pensioners in the Canary Islands who receive 350,321 pensions, as some receive more than one. Likewise, there are 14,280 people who receive the contributory pension supplement to reduce the gender gap, which is to "repair the damage that women have suffered throughout their professional careers for assuming the leading role in child care".

In turn, 97,516 pensions in the Canary Islands (27.8% of the total) will increase by the minimum supplement, an amount that is added to the amount of the contributory pension when it does not reach the legal minimum.