Spain continues to swell the list of contributory pensions, which was 12,039 million in the month of August, an amount 10.9% higher than that of the same period of the previous year. Expenditure on this item, which once again sets a new record, is equivalent to 11.8% of gross domestic product (GDP) in the last 12 months, as reported by the Ministry of Inclusion, Social Security and Migration.
The figure is one tenth higher than that of last year, but lower than the levels it reached during the first year of the pandemic, when it reached 12.4% of GDP due to the strong impact of the Covid-19 crisis. 19 in the Spanish economy.
However, it was last July when the payroll of contributory benefits exceeded 12,000 million for the first time. In just one year it has increased by more than 1,100 million because, in application of the pension reform, pensions have risen by 8.5% in 2023 as a result of average inflation for the period December 2021-November of 2022.
In total, there are 9.1 million pensioners who receive 10.06 million contributory benefits, of which three quarters -72.9%- are for retirement, while the rest correspond to widow's pensions, permanent disability, orphanhood and benefits in favor of relatives. The number of pensions grows at an annual rate of 1.2%.
The average retirement pension increased by 9.5% year-on-year in August, up to 1,375.7 euros per month. Pensioners in the general regime earn an average of 1,532.7 euros per month, compared to 916.3 euros per month for those in the self-employed regime. The average pension of the system amounts to 1,195.7 euros.
