Social Security allocations in October totaled a record figure of 10,887 million euros for pension payments. Contributory pensions showed a 6.2% year-over-year rise compared with October of 2021, a month that itself reported a 4.5% increase in spending, according to data released by the Ministry of Social Security and Immigration on Tuesday.
The Department, led by José Luis Escrivá, estimates pension expenditures at 11.8% of GDP for October. This percentage is lower than 2020’s 12.4% of GDP, a year shaped by the pandemic, and also below 2021’s 12.1% of GDP. Of the 10,887 million euros spent on contributory pensions this October, about 72.5% went toward retirement pensions, totaling 7,890.2 million euros, which is 6.77% higher than October of the previous year.
Contributory payments include 1,836 million euros for widow’s pensions, a rise of nearly 5.1% from the prior year, and 982 million euros for permanent disability benefits, up by 3.9%. Orphan’s benefits required 149.8 million euros (+4.9%), while family-related benefits totaled 28.5 million euros (+6.9%).
pension
In October this year, 9,959,123 contributory pensions were paid to a little over 9 million retirees, up 0.8% from a year earlier. Of all pensions, 6.27 million were retirement pensions; 2.35 million were widow’s pensions; 948,917 were for permanent disability; 341,194 belonged to orphan’s pensions; and 44,505 covered relatives’ support.
As of October 1, the total number of retirees stood at 9,022,989, including 4.6 million men and 4.4 million women. The average number of pensions per retiree remained at 1.1.
The most common pension type remains retirement pensions for 6.2 million people, followed by widow’s pensions for 1.6 million, permanent disability for 943,539 retirees, orphans for 323,925, and relatives’ pensions for 43,766.
Average
The average pension rose to 1,257.9 euros per month in October, up about 5.4% from the same month a year earlier.
Among the general scheme, the average pension was 1,405.9 euros, while in the Self-Employed Plan it stood at 837.3 euros per month. The average for Coal Mining pensions reached 2,451.4 euros per month, and 1,396 euros in Marine Mining. The latest available data shows that the average new pension enrollment amount was 1,435.7 euros per month in September.
In October, the average widow’s pension was 780.6 euros per month. The overall average pension across the system, covering retirement, permanent disability, widow, orphan, and relatives pensions, increased by 5.2% from the prior year and rose to 1,093.13 euros per month as of October 1.
passive classes
On the other hand, the latest data show 685,478 active pensions within the passive classes regime at the end of September, up 1.7% from September of the previous year. The monthly payroll for these pensioners amounts to 1,328.8 million euros.
The State Passive Class Regime primarily includes military personnel and officers from the General State Administration, the Administration of Justice, the General Courts, and other constitutional or government agencies, as well as officers who have transferred to autonomous communities.
gender inequality
As of October 1, 341,470 pensions received a gender gap supplement. The purpose is to gradually close the gap between the average pension received by men and that received by women.
The monthly average amount of this supplement for women is 93% of the pensioners, totaling 61.4 euros. Among these, 21.5% of the 341,470 additional pensions go to pensioners with one child (73,403); 47.2%, with two children (161,341); 20% have three children (68,379); and 11.2% (38,347) have four children.
The supplement, in force since February last year, consists of a fixed monthly amount of 28 euros per child, applicable from the first child up to a maximum of four. Applications are submitted at the same time as the pension request.