The extra of pensions forces a record expense of 23,000 million in June

The payment of the extra pay for June has led to spending on paying pensions rising to a record of 23,692 million euros, according to data revealed this Tuesday by the Ministry of Inclusion, Social Security and Migrations.

Oliver Thansan
Oliver Thansan
26 June 2023 Monday 16:26
4 Reads
The extra of pensions forces a record expense of 23,000 million in June

The payment of the extra pay for June has led to spending on paying pensions rising to a record of 23,692 million euros, according to data revealed this Tuesday by the Ministry of Inclusion, Social Security and Migrations.

The extra has been paid to 10.02 million pensions. The great part has gone to retirement, with 6.34 million extraordinary benefits and an average of 1,357.39 euros. In addition, 2.34 million extra payments have been paid in widow's pensions and almost 950,000 extras for permanent disability.

After the update of the maximum pensions, this June is the first in which there are charges of 6,000 euros between ordinary and extraordinary payment. The second is paid to all pensions, except those derived from accidents at work and professional illness.

Thus, the cost of the monthly pay amounts to 11,997.2 million euros, for the 11,695 million allocated to the extra. In total, more than 23,000 million.

The Government points out that the expenditure on the payment of pensions does not increase over the GDP, assuming in the last twelve months 11.7% of what the economy produces in a year. It is the same amount as in 2022 and less than 12.1% in 2021 due to the improvement in the economy after the pandemic, which reduces the weight of spending.

In total, 10.04 million pensions have had to be paid to 9.09 million people, with an average for the entire system -retirement, permanent disability, widowhood, orphanhood and in favor of relatives- of 1,195 euros. The figure represents an increase of 9.6% over last year, since to the 8.5% rise in pensions due to inflation we must add the 15% improvement in certain non-contributory benefits.

Retirement pensions take 7.3 of every 10 euros paid, up to 8,740.3 million euros. Those of widowhood follow by importance, with 2,002 million and those of permanent disability up to 1,060 million.

By chapters, the average retirement pension has risen to 1,375 euros, 9.6% more year-on-year. The new retirees who enter the system through the general regime did so with a somewhat higher average, of 1,447.23 euros in May, the last month with data.

The average widow's pay stood at 851.8 euros per month, with year-on-year growth of 9.4%.