24,000 million for pensions in November with a government loan of 10,000 million for disbursement

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Pension expenditure in November amounted to 23,923 million euros, which is due to the addition of special benefits amounting to 11,823 million euros to the regular monthly wage bill of 12,100.8 million euros. The incumbent government approved on October 30 a loan of 10 billion to the Social Security as its revenues were insufficient to pay the payroll and Christmas bonuses for pensioners in November.

According to data from the Ministry of Integration, Social Security and Migration this Tuesday, spending on contributory pensions amounted to 11.5% of gross domestic product (GDP) in November.

This month, 10.1 million contributory pensions were paid to more than 9.1 million pensioners.

Almost three quarters of the pension payments subject to contributions correspond to old-age pensions, namely 73%, i.e. 8,839 million.

2,010.9 million euros are earmarked for widow’s pensions, the wage bill for permanent disability pensions amounts to 1,055.7 million euros, 163.2 million euros for orphans’ benefits and 32 million euros for benefits for family members.

In total, of the 10,101,961 contribution pensions paid out, 6,415,552 are intended for retirement, 2,355,361 for widower’s pensions, 945,141 for permanent disability, 340,491 for orphans and 45,416 for family members.

The number of pensions is growing by 1.3% annually

The average pension in the system is just under 1,200 euros, or 197.9 euros per month. By type, the average old-age pension was 1,377.7 euros, while the widow’s pension averaged 853.7 euros per month.

The average old-age pension from the general pension system per regime was 1,533.7 euros per month, while for the self-employed it was 917.6 euros/month.

The new pension registrations recorded in the system averaged 1,409.6 euros per month in October 2023 (most recent data).

Social Security also states that 619,832 pensions received the gender gap supplement in November, 90.7% of which were women (562,184).

The average monthly amount of this pension supplement was 65.4 euros.