The average retirement pension rises almost 5.4%, to 1,257.9 euros per month

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 Migrations, which has specified that, in homogeneous terms, the increase in spending is 4.5% year-on-year.

The Department headed by José Luis Escrivá estimates that pension spending stood at 11.8% of GDP in the tenth 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 10,887 million euros that were dedicated in October to the payment of contributory pensions, almost three quarters (72.5%) were allocated to the payment of retirement pensions, which totaled an amount of 7,890.2 million euros , 6.77% more than in October last year.

1,836 million euros were allocated to widow's pensions, almost 5.1% more than a year ago, while 982 million euros (3.9%) were allocated to permanent disability benefits.

For its part, the payment of orphan's benefits entailed an amount of 149.8 million (4.9%), and that of benefits in favor of relatives totaled 28.5 million euros (6.9%).

In October of this year, 9,959,123 contributory pensions were paid, 0.8% more than a year ago, for just over 9 million pensioners. Of the total pensions, more than 6.27 million were retirement pensions; 2.35 million were widow's pensions; 948,917 were permanently disabled; 341,194 were orphan's pensions, and 44,505, in favor of relatives.

Of the total number of pensioners (9,022,989 as of October 1), 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 6.2 million people; widowhood for 1.6 million people; permanent disability for 943,539 pensioners; that of orphanhood for 323,925 people, and that of favor of relatives for 43,766 pensioners.

THE AVERAGE RETIREMENT PENSION RISES ALMOST 5.4%

The average retirement pension reached 1,257.9 euros per month in October, almost 5.4% more than in the same month last year.

In the General Scheme, the average retirement pension amounted to 1,405.9 euros per month, compared to 837.3 euros per month in the Self-Employed Scheme. In Coal Mining, the average retirement pension is 2,451.4 euros per month and in Sea Mining, 1,396 euros.

The average amount of new retirement registrations rose in September (latest data available) to 1,435.7 euros per month.

In October, the average widow's pension stood at 780.6 euros per month, with year-on-year growth of 5.2%, 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 5.4%, reaching 1,093.13 euros per month on October 1.

PASSIVE CLASSES

On the other hand, the number of pensions belonging to passive classes in force at the end of September (latest data available) was 685,478, a figure 1.7% higher than that of the same month of 2021. The monthly payroll of these pensions amounted to 1,328.8 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 341,000 PENSIONS RECEIVE A SUPPLEMENT FOR THE GENDER GAP

As of October 1, 341,470 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 pension supplement, received 93% by women, is 61.4 euros. Of the 341,470 supplemented pensions, 21.5% correspond to pensioners with one child (73,403); 47.2%, with two children (161,341); 20%, with three (68,379), and 11.2% (38,347), 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.