Spending on pensions reaches a record figure of 10,867 million in September, 6.2% more

MADRID, 27 Sep. (EUROPA PRESS) -

Social Security allocated in the current month of September the record figure of 10,867 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 ninth 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).

In September of this year, 9,949,869 contributory pensions were paid, 0.8% more than a year ago. Of the total pensions, more than 6.26 million were retirement pensions and almost 2.35 million were widow's pensions.

The average retirement pension reached 1,256.96 euros per month in September, 5.3% more than in the same month last year.

For its part, the system's average pension, which includes the different types of pension (retirement, permanent disability, widowhood, orphanhood and in favor of relatives), also increased by 5.3% year-on-year, to stand at 1,092 on September 1, 18 euros per month.