Spending on pensions reaches record €12,668 million in February, 6.2% up on February 2023

pensiones playita

Social Security allocated a record €12,668 million to the payment of the ordinary monthly payroll of contributory pensions in February, 6.2% more than in the same month in 2023, according to the Ministry of Inclusion, Social Security and Migration, which reported on Tuesday.

Following the rise in pensions in line with the CPI applied since the beginning of the year, the average retirement pension increased by 4.8% year-on-year in February, to 1,437 euros per month.

Of the €12,668 million spent in February on the ordinary payroll of contributory pensions, almost three quarters (73%) went to retirement pensions, which totalled €9,270 million, almost 6.9% more than in February last year, €2,097 million (+5.2%) went to widowhood pensions and €1,095 million (+3.5%) to permanent disability benefits.

In February, 10,128,762 contributory pensions were paid out, 1.2% more than a year ago, to just over 9.17 million pensioners, 1.1% more than a year ago. Of this total, 6.5 million were retirement pensions, 2.3 million were widowhood pensions and 943,561 were permanent disability pensions.

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