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Spending continues non-stop and approaches 11,000 million in November


Pension spending looks like a wild horse and month after month adds new peaks. In the month of November, Social Security forked out a whopping $100,000 10913 million euros to pay pensions. This is 6.1% more than the same month in 2021, according to data published by the Ministry of Integration, Social Security and Migration. In consonant terms, the increase in spending is 4.5% year-over-year. In any case, the escalation of spending is not over yet because the 2023 budgets that have just been approved open the door to an increase in average pensions of about 8.5%.

In any case, The exact figure will be known on the day the end consumer price index for that month is published November (around mid-December), since the end of last year, the law has been reintroduced to adjust pensions according to the average inflation taken from November 2021 to the same month of 2022. In this sense, it does not help that prices are still at higher levels than they were in previous years. In October, inflation eased to 7.3% but this year it peaked at 10.8% in August.

But from this ministry, they estimate that pension spending has arrived 11.7% of the GDP In the eleventh month of the year. This percentage is lower than in 2020 (12.4% of GDP), a year conditioned on the impact of the pandemic on GDP, and also lower than in 2021 (12.1% of GDP).

In addition, at the end of this month, Social Security must pay the overtime (the equivalent of one overtime wage) and that means another added bill of around 10.649 million euros.

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Always in accordance with the statements of the Ministry directed by José Luis Escrivá, from 10913 million euros For pensions, 72.5% went to pensions. This is a total of 7,914.2 million euros, up 6.7% from the same month in 2021.

The average pension amounted to 1,258.8 euros per month in November, or 5.3% compared to last year. If we analyze the different schemes, in the year the average pension was 1406.4 euros per month compared to 837.9 euros in the self-employed scheme. While the average pension for coal mining was 2,453.7 euros per month and in the sea system 1,397.4 euros. Regarding the amounts of new registrations in October (the latest data), it was 1390.4 euros per month.

According to the average widow’s pension During the eleventh month of the year, it averaged 781.2 euros per month, with an annual growth of 5.2%, while the average pension system that includes the various types of pensions (retirement, permanent disability, widow, orphan). and for relatives) increased by 5.3%, reaching 1094 euros per month on November 1.

to me widow’s pension A total of 1,839.2 million euros were paid. This is 5.1% more than last year. For permanent disability benefits, the government has set aside 981.5 million euros. 3.8% more than a year ago.

invoice Orphan benefits It was 149.6 million euros. This is 4.8% more than in November last year, while benefits for family members amounted to €28.6 million (+7.1%).

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