11 Aug, 2016 @ 09:02
1 min read

Spain paying €300m a year in pensions to people who are dead

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PensionersMORE than €300 million  was paid in pensions to the dead last year due to the government’s ‘holes and deficiencies’.

A National Audit Office report claims that 30,000 officially registered deceased received pension payments in 2015.

The monthly payment to the dead totalled €25.3 million.

The Organisation for Economic Co-Operation and Development’s (OECD) 2011 statistics show that Spain spent over 10.5% of its GDP on pensions, well over the 7.9% OECD average.

The Audit Office spoke out against the National Social Security Institute (INSS) concerning the systemic failure.

A spokesman said: “The INSS doesn’t employ effective controls over who it pays pensions to, and neither do the banks through which pensions are paid.”

It comes at a bad time for Spain, which is in the midst of austerity measures and faces EU sanctions over its unreined deficit.

Lance Rutkin

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  1. The author of this article should decide, whether 300,000 € had been paid incorrectly per year or 25 Million per month which adds up to 300 Million € a year.

    Now the question still remains: What scandal is more important?:
    a) 25.000 dead in Spain got 300 Million (or Thousand ?) in pensions
    b) the dead Duke of Westminster is ‘worth’ 10,9 Billion (which equals to 909,000 dead Spanish pensions)

    • Gobbledygook Wolfgang. More absurd illustrations. If you wish to decry the financial shenanigans in the Duke of Westminster’s estate, you would do well to concentrate on the approximately three billion pounds of inheritance tax that has been “avoided”.

    • The problem is the Duke’s activities are all legal and the estate employs thousands of people besides paying tax in the Uk on the profit the estate makes. Just stop and think for a moment, if inheritance tax was unavailable just think of all those lucky people living on “benefits”. Best of luck to him and feel absolutely sure if I had his wealth I would do exactly the same like many others.

      Douglas fairbank Jr was once asked on a Eamonn Andrew show what did he find the difference between an American worker and a English worker. Pausing for a few seconds he replied. “Well the difference I find is, with the American worker when he see’s his boss roll up in a Cadillac he say’s, I must get one of those but a English worker when he see’s his boss roll up in a Rolls Royce he say’s I paid for that”.

      Wolfgang, hope you can see the difference.

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