SPAIN - The Spanish government has paid out €429.7m to more than eight million pensioners to compensate for the unforeseen rise in inflation in 2006.
The Ministerio de Trabajo y Asuntos Sociales (ministry for work and social affairs) today paid an average of €60 each to retired pensioners in compensation for the unexpected 0.6% rise in prices seen over the 2% predicted rise.
State pensions for 2007 will also rise from this month, by between 2.6% and 7.13% on last year's amounts.
Spanish law guarantees the purchasing power of pensions remains the same, regardless of inflation. For this reason, pensions are reevaluated at the start of each year with regard to the Consumer Price Indices for the year just finished and the year ahead.
In the last three years, the minimum pension has increased by between 19.78% and 24.99%.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.