The monthly payroll of pensions breaks the barrier of 12,000 million euros for the first time. In spending in July it has climbed to 12,017.8 million euros, 10.8% more than a year ago, according to data from the Ministry of Inclusion, Social Security and Migrations.
Last January it already exceeded 11,000 million euros and seven months later it has jumped 1,000 million more. This is due to the fact that, in application of the pension reform, they have risen by 8.5% by 2023 as a result of average inflation for the period December 2021-November 2022.
Pension spending represents 11.7% of GDP in the last twelve months, a figure equal to that of 2022. In total there are 9.1 million pensioners who receive 10.05 million benefits.
Almost three quarters of spending goes to retirement, with 8,758 million euros, 11.6% more. 2,004.4 million euros were allocated to widow's pensions, almost 9.4% more than a year ago, while 1,059.8 million euros (7.5%) were allocated to benefits for permanent disability.
The system's average pension - counting retirement, permanent disability, widowhood, orphanhood and in favor of relatives - is 1,195.1 euros. But the number varies according to the group. Thus, retirees from the general regime have an average pension of 1,532.5 euros, compared to 915.8 euros for the self-employed.
New retirees from the general regime entered the system charging an average of 1,487.8 euros per month in June, the latest data available.
The highest average retirement pension -counting all schemes- occurs in the Basque Country, with 1,683.60 euros, compared to 1,640.84 in Asturias or 1,590.77 in Madrid. On the opposite side are Extremadura, with 1,148.18 euros, and Galicia, with 1,169.07 euros.
