Spain: Contributory Pensions Amount To 8.58 Billion Euros In October

The monthly total of contributory pensions paid out by the Spanish Social Security system amounted to 8.58 billion euros at 1 October. The year-on-year increase stands at 3.13%, according to the Spanish government.

The average retirement pension stood at 1,047.90 euros, 2.08% higher than for the same period last year. The average pension from the Spanish Social Security system as a whole, which includes all the various types of pension available (retirement, permanent disability, widowhood, orphanhood, and those paid out to relatives), stood at 907.70 euros, representing a year-on-year increase of 1.9%.

In summary, currently the public system comprises 9,447,945 contributory pensions in total, an increase of 1.21% on last year. At 5,764,058, more than half of these are retirement pensions, while 2,362,301 are widowhood pensions, 940,553 are permanent disability pensions, 341,091 are orphanhood pensions and 39,942 are pensions paid out to relatives.