Spending on pensions rises 6.26% in August, to 10,857 million

By: News Team

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The monthly payroll of Social Security contributory benefits stood at 10,856.9 million euros in August, 6.26% more than in the same month of 2021, according to the figures provided this Friday by the Ministry of Inclusion, Social Security and Migration.

Of the total paid, 72.4%, 7,860.1 million, was allocated to the payment of retirement pensions, an amount that has risen 6.85% in the last twelve months, while 1,832 were dedicated to widowhood .7 million, 4.99% more.

In like-for-like terms, excluding the increases applied so far this year, spending on pensions rose by 4.6%.

Social Security highlights that this spending on pensions stands at 11.8% of the gross domestic product (GDP).

The total number of pensioners as of August 1 stood at 9,015,379 people, who together received a total of 9,948,815 pensions.

And of those contributory pensions paid, 0.88% more than in the same month of 2021, 6,258,422 were retirement; 2,350,745 widowhood; 951,986 permanent disability; 343,182 for orphans, and 44,480 for relatives.

The system’s average pension amounted to 1,091.28 euros per month, an increase of 5.34%, while the average retirement pension was 1,255.92 euros, 5.34% more than a year earlier.

The average widow’s pension was 779.62 euros, an increase of 5.16%.

As for the average amount of new retirement registrations, it amounted to 1,396.1 euros per month in July 2022.

On the other hand, and on August 1, 302,576 pensions received the gender gap supplement, of which 93.2% (281,955) corresponded to women, with an average monthly amount of this supplement of 61.6 euros.

This gender gap supplement, in force since February 2021, consists of a fixed amount of 28 euros per month per child, which is applied from the first and up to a maximum of four.

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