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Tags: EU | Portugal | Austerity

Portuguese Pensioners to Get Some Small Relief

Friday, 18 December 2015 11:08 PM

LISBON, Portugal (AP) — Portugal's new Socialist government has announced pension increases for around 2 million people as part of its drive to reverse austerity measures adopted during the country's recent financial crisis.

The rises, however, won't amount to much more cash in pensioners' pockets — increases will track the annual inflation rate, which is around 0.3 percent.

Social Security Minister Jose Vieira da Silva said Thursday that only pensions below 628 euros ($681) a month will rise.

That covers more than half of pensioners in Portugal, which is Western Europe's poorest country. The average pension is just over 400 euros a month and the economy is weighed down by high debt.

The government also announced an increase in family allowances of between 2 and 3.5 percent and rises in some other welfare payments.

© Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
Portugal's new Socialist government has announced pension increases for around 2 million people as part of its drive to reverse austerity measures adopted during the country's recent financial crisis.The rises, however, won't amount to much more cash in pensioners' pockets...
EU,Portugal,Austerity
132
2015-08-18
Friday, 18 December 2015 11:08 PM
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