Pension spending reaches the record figure of 10,857 million in August, 4.6% more

Aug. 26 () –

The Social Security allocated in the current month of August the record figure of 10,856.9 million euros to the payment of contributory pensions, 4.6% more than in the same month of 2021, as reported this Friday by the Ministry of Inclusion, Social Security and Migrations.

The Department headed by José Luis Escrivá estimates that pension spending stood at 11.8% of GDP in the eighth month of the year, a lower percentage than in 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 10,857 million euros that were dedicated in August to the payment of contributory pensions, almost three quarters (72.4%) were allocated to the payment of retirement pensions, which totaled an amount of 7,860.1 million euros , 6.8% more than in August last year.

1,832.7 million euros were allocated to widow’s pensions, almost 5% more than a year ago, while 985.3 million euros (+3.2%) were allocated to permanent disability benefits.

For its part, the payment of orphan’s benefits entailed an amount of 150.5 million (+5.1%), and that of benefits in favor of relatives totaled 28.4 million euros (+7.1%) .

RETIREMENT, THE MAIN PENSION FOR SIX MILLION PEOPLE

In August of this year, 9,948,815 contributory pensions were paid, 0.9% more than a year ago, for just over 9 million pensioners. Of the total pensions, more than 6.25 million were retirement pensions; 2.35 million were widow’s pensions; 951,986 were permanently disabled; 343,182 were orphan’s pensions, and 44,480, in favor of relatives.

Of the total number of pensioners, 4.6 million are men and 4.4 million are women. The number of pensions per pensioner is 1.1.

The main pension received is retirement for 6.1 million people; widowhood for 1.6 million people; permanent disability for 946,478 pensioners; that of orphanhood for 325,823 people, and that of favor of relatives for 43,725 pensioners.

THE AVERAGE RETIREMENT PENSION INCREASES BY 5.3%

The average retirement pension reached 1,255.92 euros per month in August, 5.3% more than in the same month last year (+3.7% in like-for-like terms).

In the General Scheme, the average retirement pension amounted to 1,404.4 euros per month, compared to 836.1 euros per month in the Self-Employed Scheme. In Coal Mining, the average retirement pension is 2,447.8 euros per month and in Sea Mining, 1,394.4 euros.

In August, the average widow’s pension stood at 779.6 euros per month, with year-on-year growth of 5.1%, while the system’s average pension, which includes the different types of pension (retirement, permanent disability, widowhood , orphans and in favor of relatives), increased by 5.3%, reaching 1,091.3 euros per month on August 1.

The amount of new retirement registrations rose in July (latest data available) to 1,396.1 euros per month.

PASSIVE CLASSES

On the other hand, the number of pensions belonging to passive classes in force at the end of July (latest data available) was 683,331, a figure 1.8% higher than that of the same month of 2021. The monthly payroll of these pensions amounted to 1,318.7 million euros.

The State Passive Class Regime basically includes military personnel and civil servants from the General State Administration, the Administration of Justice, the General Courts and other constitutional or state bodies, as well as civil servants transferred to the autonomous communities.

MORE THAN 300,000 PENSIONS RECEIVE A SUPPLEMENT FOR THE GENDER GAP

As of August 1, 302,576 pensions received the supplement for gender gap, whose objective is to gradually correct the difference that occurs between the average pension received by a man and that received by a woman.

The average monthly amount of this supplement in the pension, received by 93.2% by women, is 61.6 euros. Of the 302,576 supplemented pensions, 21.3% correspond to pensioners with one child (64,401); 47.3%, with two children (143,209); 20.1%, with three (60,753), and 11.3% (34,213), with four children.

This supplement, in force since February last year, consists of a fixed amount of 28 euros per month per child, which applies from the first child and up to a maximum of four. It is requested at the same time that the pension is requested.