Six of ten retirees in Alicante live with income below average, where the Interprofessional Minimum Wage (SMI) has become a practical threshold after the latest government increase in February, reaching one thousand euros monthly for many beneficiaries. In total, 203,000 people receive this benefit, constituting 62.8 percent of the region’s 328,000 retirees. Across the Valencian Community, the Ministry of Inclusion and Social Security notes 533,000 retirees with incomes under the SMI, which accounts for 58 percent of all beneficiaries in the area. A further 33,884 pensions currently reach the maximum cap, while 352,009 fall between these two extremes.
The regional disparities are striking. Alicante records the highest share of benefits below the SMI at 62.8 percent, followed by Castellón at 57.5 percent and Valencia at 55.4 percent. These figures contrast sharply with the overall national average and with neighboring regions that show healthier earnings structures. In comparison, the Basque Country, Navarra, and Madrid report significantly lower shares of low pensions, around 33 to 40 percent, reflecting stronger job markets and higher salaries that feed into larger pensions over time. Gender differences are evident as well. Among Valencian retirees, 69.1 percent of men are in the lowest income group, compared with 47.3 percent of women. Conversely, only 2.2 percent of women hold the highest pensions, while 5.1 percent of men reach that top tier.
Data from the report also show that as of July 1, 2022, 10.7 percent of Valencians with these benefits had received more than one pension. That represents 98,139 individuals, a share slightly above the national average of 10.3 percent. The ranking shows Catalonia at 13.4 percent, Galicia at 12.8 percent, and the Balearic Islands at 12.2 percent as other regional leaders. In the Valencian Community, women account for the vast majority of recipients with multiple pensions, making up 84 percent of this group and 18.2 percent of all pension receivers, including widows. Among men, the share is just 3.4 percent within this category.
The report also tracks changes in the number of retirees. Valencia recorded 919,752 beneficiaries, receiving 1,036 more pensions on July 1 than at the start of the previous month, which is 7,133 more than on July 1, 2021, 95,316 more than a decade ago, and 166,977 more than in 2007.
Community retirees are among Spain’s “youngest”
Valencia’s pensioners are among the youngest nationwide, a finding highlighted by the Ministry of Inclusion and Social Security. The region’s average age sits at 71.1 years, five months below the national average. Only Andalucía, the Canary Islands, and Murcia show younger cohorts, with the Balearic Islands standing in a similar range. Gender differences persist, as men tend to stay in the 70s while women live longer, with the average for women rising to 72.3. The regional average pension drifts below the national figure, with Valencia averaging 1,045 euros on July 1, down from 1,112 euros, while Alicante remains closer to 1,050 euros and the Valencian total reaches about 1,154 euros. The national average sits higher, around 1,203 euros, with the Basque Country, Madrid, and Navarra reporting notably larger sums.