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

Social Security allocated this 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 Migration , 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 spending on pensions stood at 11.8% of GDP in the ninth month of year, a percentage lower than that of 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 have been 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 rose by 5.3% The average retirement pension reached 1,256.96 euros in September monthly, 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