Social Security will pay out nearly $21,400 million this month to pay pensions, twice as much, as the extraordinary wage is also paid to about nine million people
The nearly nine million Spanish retirees have already received just over 2,150 euros. This is double the income Social Security receives each month as it is paid extra with the June regular payroll, which has increased by 5.8% this year to an average of €1,062. Add to this the 1,090 euros that they receive as an average pension, so that in total the majority of those entitled to contributions have already received a payment of 2,152 euros, since almost all banks tend to pay out to day 27 or 28 of each month.
According to data published Tuesday by the Ministry of Inclusion, the Social Security treasury had to pay a total of 21,368.3 million euros for the payment in June. 10,832.2 million corresponds to the payment of ordinary pension wages, 4.7% more than in the same month of 2021, while another 10,536.1 million has been allocated to the extra, 6.6% more.
Pension expenditure was 11.8% of GDP in the sixth month of the year, a lower percentage than in 2020 (12.4% of GDP), a year defined by the impact of the pandemic on GDP, and also lower than in 2021 (12.1% of GDP), according to the department headed by José Luis Escrivá.
The average pension of the system, which includes the different types of pensions (pension, permanent disability, widowhood, orphanage and for family members), is 1,090.2 euros per month in June, an increase of 5.5% over the past year .
The benefit of the 6.1 million pensioners, whose wage bill rises to 1,254.7 euros, is greater. According to schemes, the average retirement pension from the General Scheme is 1,403.9 euros per month, while the lowest is registered by the Self-Employed Scheme, at 835 euros/month. In Coal Mining the average monthly pension is 2,445.5 euros and in the Regime of the Sea it is 1,392.2 euros.
The average number of new pension registrations in the system increased in May 2022 to 1,376.2 euros per month. The average widow’s pension in effect in June is EUR 778.7 per month.
Source: La Verdad
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