Pension spending is already close to 11,000 million after setting a new record


November will end with a new record for pension spending, which has increased by 6.1% in relation to the same month last year. Social Security has allocated the unprecedented figure of 10,913 million euros to the payment of contributory pensions, according to the data made public this Friday by the Ministry of Inclusion, Social Security and Migrations. The Department headed by José Luis Escrivá has specified that, in homogeneous terms, the increase in spending is 4.5% in interannual terms.

In the eleventh month of the year pension spending reached 11.7% of GDPa percentage lower both than that of the year of the pandemic (it was 12.4% of GDP due to the decline in economic activity caused by the pandemic), but also that of last year, when spending came to represent the equivalent of 12 .1% of the volume of the Spanish economy that year.

Social Security pays the extra pay for November

Along with this month’s payroll, Social Security will also have to pay the extraordinary pay for November for an amount of 10,649 million euros. In October of this year, 9,975,234 contributory pensions were paid, 0.77% more than a year ago. Of the total pensions, more than 6.28 million were retirement pensions and a total of 2.35 million were widow’s pensions (the average widow’s pension reaches 781.2 euros per month).

The average retirement pension reached 1,258.8 euros per month in November, 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, reaching 1,094 on November 1, 02 euros per month. Of Total pensioners, which are 9,036,457 as of November 1, 4.6 million are men and 4.4 million are women. The proportion of pensions per pensioner stands at 1.1 benefits per person.

Almost 365,000 receive a gender gap supplement

As of November 1, 364,871 pensioners have received the gender gap supplement, of which almost 93% are women (338,628). The average monthly amount of this pension supplement is 61.3 euros. Of the 364,628 supplemented pensions, 21.6% correspond to pensioners with a child (78,936), who previously did not have access to the maternity supplement. In addition, 47.2% of the beneficiaries of these supplements have two children (172,276); 20%, with three (72,860) and with four children, 11.2% (40,799).

This gender gap supplement, in force since February 2021, consists of a fixed amount, after the revaluation applied in 2022, of 28 euros per month per child, which is applied from the first child, unlike the previous maternity and that you apply at the same time that you apply for the pension.


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