Pension spending reached a record figure of 12,896 million in October

2024-10-25 17:08:00

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In this month of October, Social Security allocated the record amount of 12,895.8 million euros for the payment of the ordinary monthly paycheck of contributory pensions, almost 6.8% more than in the same month of 2023, as reported this Friday the Ministry of Inclusion, Social Security and Migration.

The payroll of ordinary monthly pensions exceeded €12,000 million for the first time in July 2023 and this month once again sets a new record following the increase in contributory pensions by 3.8% for 2024.

Of the almost 12,896 million euros dedicated in October to the ordinary paycheck of contributory pensions, three quarters (73.1%) were allocated to the payment of retirement pensions, which amounted to a total of 9,431.9 million euros, 7% in more than in October. of last year.

2,113.1 million euros were allocated to widowhood pensions, 5.2% more than a year ago, while 1,145.3 million euros (8.4%) were allocated to permanent disability benefits.

For its part, the provision of benefits for orphans amounted to 171 million euros (+4.7%) and that of benefits for family members amounted to 34.39 million euros (+7.7%) .

PENSION, MAIN PENSION FOR 6.4 MILLION PEOPLE

In October this year, 10,238,434 contributory pensions were paid, 1.5% more than a year ago, to 9.3 million pensioners.

Of the total pensions, 6.5 million were old-age pensions; 2.35 million were widow’s pensions; 983,310 were permanently disabled; 340,010 were pensions for orphans, and 46,228, in favor of family members.

Of the total pensioners (9.26 million as of October 1 this year), 4.7 million are men and 4.6 million are women. The number of pensions per pensioner is 1.1.

The main pension received is the old age pension for 6.4 million people, of which 60% are men; widowhood allowance is the main benefit for 1.5 million people (95.8% are women); permanent disability is the main pension for 978,874 pensioners; that of orphans for 321,941 people, and that of favor of relatives for 45,658 pensioners.

THE AVERAGE OLD-AGE PENSION, EQUAL TO 1,447.4 EUROS PER MONTH

After the increase in pensions with the IPC Applied since the beginning of the year, the average old-age pension increased by 5% year-on-year in October, reaching 1,447.4 euros per month.

In the General Scheme, the average retirement pension amounted to 1,605.5 euros per month, compared to 965.8 euros per month in the Self-Employed Workers Scheme. In Coal Mining the average pension is 2,808.9 euros per month and in Sea Mining it is 1,602.7 euros.

The average amount of new pension registrations in the system was equal to 1,644.2 euros per month in September 2024 (latest data available).

THE AVERAGE RETIREMENT AGE RISES TO 65.2 YEARS

Of the new retirement registrations produced in the first eight months of the year (265,685), 71.1% were of ordinary age (188,828), while 9.6% correspond to the delayed retirement method, compared to the 4.8% that they represented in 2019.

On the other hand, according to the Ministry, the number of early retirements has reduced “considerably”, since 28.9% of new registrations (76,793) were early retirements, when in 2019 they were 40%.

As a result of the voluntary delay in retirement, the average age of access to pension benefits is 65.2 years, when in 2019 it was 64.4 years. The Ministry recalled that since then new incentives for delaying retirement have come into force and the framework for early retirement has also been reconfigured.

For its part, the average pension of the system, which includes the different types of pensions (old age, permanent disability, widowhood, orphanage and family pensions), increased by 5.2% on an annual basis, reaching 1 ° October this year at 1,259.6 euros per month.

Similarly, the average pension of widows reached 898.34 euros per month in October, almost 5.3% more than in the same month last year.

The Ministry also reported that in the month of September (latest data available) the average time for resolving cases was 11.10 days in the case of seniority pensions and 9.56 days in the case of widowhood.

In this sense, the Department led by Elma Saiz recalled that, by law, the maximum termination period is 90 days for both old-age and widow’s pensions.

PASSIVE CLASSES

On the other hand, the number of pensions belonging to the passive classes in force at the end of September this year (latest data available) was equal to 713,471, a figure 2.1% higher than that of the same month of 2023. monthly paychecks of these pensions amount to 1,605.2 million euros, 7.4% more.

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

ALMOST 864,000 PENSIONS RECEIVE TOP DUE TO THE GENDER GAP

As indicated by the Ministry, in the month of October, 863,963 pensions received gender gap integration, the aim 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 89.2% of women, is 70.3 euros. Of the 863,963 integrated pensions, 24.5% correspond to pensioners with children (211,816); 47% with two children (406,448); 18.6%, with three (160,743), and 9.8% (84,956), with four children.

This supplement, in force from February 2021, consists of a fixed amount which, after the revaluation for 2024, amounts to 33.2 euros per month per child. It is requested at the same time as the pension request.

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