1.1 pensions per pensioner: Spending on pensions soars to 11.902 billion in January, after rising in line with CPI

pensiones playita

Spending on pensions has increased by almost 1,000 million euros compared to last December’s payroll and exceeds 11,000 million euros for the first time in history: 11,902 million. This is because, in application of the pension reform, pensions have risen by 8.5% by 2023, as a result of average inflation for the period December 2021-November 2022.

In January this year, 10,009,149 contributory pensions were paid out, 0.9% more than a year ago, to just over nine million pensioners. The number of pensions per pensioner is 1.1.

Of the total number of pensions, more than 6.32 million were retirement pensions; 2.35 million were widow’s pensions; 948,476 were permanent disability pensions; 340,750 were orphan’s pensions; and 44,848 were family pensions. Of the total number of pensioners (9,067,433 on 1 January this year), 4.6 million were men and 4.5 million were women.

Following the 8.5% increase in pensions this year, the average retirement pension rose by 9.8% in January to 1,368.3 euros per month. In the General Scheme, the average retirement pension amounted to 1,527.8 euros per month, compared with 910.9 euros per month in the Self-Employed Scheme.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.