amount to 10,887 million
The Social Security allocated in the current month of October the record figure of 10,887 million euros to the payment of contributory pensions, 6.2% more than in the same month of 2021, as reported on Tuesday by the Ministry of Inclusion, Social Security and Migration, which also lowers this increase to 4.5% by passing the figure to homogeneous terms. In total, 9,959,123 contributory pensions have been paid, 0.8% more than a year ago.
The Department you lead Jose Luis Escriva estimates that spending on pensions stood at 11.8% of GDP in the tenth month of the year, a percentage lower than that of 2020 (12.4% of GDP), a year conditioned by the impact of the pandemic on GDP, and also lower than that of 2021 (12.1% of GDP). Of the total pensions, more than 6.27 million were retirement pensions and 2.35 million were widow’s pensions.
The average pension rises 5.4%
The average retirement pension reached in October 1,257.9 euros per month, almost 5.4% more than in the same month last year. For its part, the system’s average pension, which includes the different types of pension (retirement, permanent disability, widowhood, orphanhood and in favor of relatives), also increased by 5.4% year-on-year, to stand at 1,093 on October 1, 13 euros per month.
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