Pension spending reaches a record figure of 10,913 million in November, 6.1% more

The average retirement pension rises by 5.

Pension spending reaches a record figure of 10,913 million in November, 6.1% more

The average retirement pension rises by 5.3%, up to 1,258.8 euros per month

Social Security allocated in the month of November the record amount of 10,913 million euros to the payment of contributory pensions, 6.1% more than in the same month of 2021, as reported this Friday by the Ministry of Inclusion, Social Security and Migrations, which 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 11.7% of GDP in the eleventh 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).

Along with this month's payroll, Social Security will also pay pensioners the extraordinary pay for November for an amount of 10,649 million euros.

Of the 10,913 million euros that were dedicated in November to the payment of contributory pensions, almost three quarters (72.5%) were allocated to the payment of retirement pensions, which totaled 7,914.2 million euros , 6.7% more than in November last year.

1,839.2 million euros were allocated to widow's pensions, 5.1% more than a year ago, while 981.5 million euros (3.8%) were allocated to benefits for permanent disability.

For its part, the payment of orphan's benefits entailed an amount of 149.6 million euros (4.8%), and that of benefits in favor of relatives totaled 28.6 million euros (7.1%).

THE RETIREMENT, MAIN PENSION FOR 6.2 MILLION PEOPLE

In November of this year, 9,975,234 contributory pensions were paid, 0.77% more than a year ago, for just over nine million pensioners. Of the total pensions, more than 6.28 million were retirement pensions; 2.35 million were widow's pensions; 948,664 were permanent disabled; 340,641 were orphan's pensions, and 44,634, in favor of relatives.

Of the total number of pensioners (9,036,457 as of November 1), 4.6 million are men and 4.4 million women. The number of pensions per pensioner is 1.1.

The main pension received is the retirement pension for 6.2 million people, of which 60.7% are men; widowhood is the main benefit for 1.6 million people (95.9% are women); that of permanent disability is the main pension for 943,344 pensioners; that of orphans for 323,371 people, and that of favor of relatives for 43,905 pensioners.

THE AVERAGE RETIREMENT PENSION RISES BY 5.3%

The average retirement pension reached 1,258.8 euros per month in November, 5.3% more than in the same month last year.

In the General Scheme, the average retirement pension amounted to 1,406.4 euros per month, compared to 837.9 euros per month in the Self-Employed Scheme. In Coal Mining, the average retirement pension is 2,453.7 euros per month and in the Sea, 1,397.4 euros.

The average amount of new retirement registrations rose in October (latest data available) to 1,390.4 euros per month.

In November, the average widow's pension stood at 781.2 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 5.3%, reaching 1,094 euros per month on November 1.

In the first eleven months of the year, 282,102 retirement and 125,831 widowhood files have been processed. According to the Ministry, the average resolution of these files has been 21.8 days in the case of retirement and 20.27 days in the case of widowhood.

In this sense, the Department headed by Escrivá has recalled that, by law, the maximum resolution period is 90 days for both retirement and widowhood pensions.

PASSIVE CLASSES

On the other hand, the number of pensions belonging to passive classes in force at the end of October (latest data available) was 690,790, a figure 1.7% higher than that of the same month of 2021. The monthly payroll of these pensions amounted to 1,348.4 million euros.

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

MORE THAN 364,000 PENSIONERS RECEIVE SUPPLEMENT DUE TO GENDER GAP

As of November 1, 364,871 pensioners received the gender gap supplement, the objective of which 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 by 92.8% by women, is 61.3 euros. Of the 364,628 supplemented pensions, 21.6% correspond to pensioners with a child (78,936); 47.2%, with two children (172,276); 20%, with three (72,860), and 11.2% (40,799), with four children.

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

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