SPAIN’S treasury spent 9,513 million euros on pensions in February, the highest monthly figure ever. Year on year the figure has gone up by 7.15%, a ten year high. The Ministry of Labour and Social Security say there are two main reasons for the change, the ever increasing amount of pensioners and the recent rises in payments. The average pension in retirement now stands at €1,131.86, 5.04% higher than February last year. The average “new pension” for people drawing one for the first time is now €1,446.11.