Spain paying pensioners twice as much as Britain

PENSIONERS in Spain are more than twice as well off as their British counterparts.

- Sarah O'Grady

While the UK state pension offers a maximum of £802.32 a month to retirees, the average Spanish OAP receives £2,287.24.

The study on European pensions found Britain places at just 16th on the Pension Breakeven Index.

Here the state allowance is worth only 16.61% more than the amount needed to cover the average cost of bills, calculated at £688.04 a month.

This means a retiree relying on the state pension has just £114.24 a month left over after expenses are covered, the index suggests.