Average pension rises to 1,254.3 euros in May, 5% more than a year ago

Jun 2, 2024 | Current affairs, Featured, Interview, Portada, Revista Lloseta, Thursday Daily Bulletin, Tradition

Social Security has paid 10.2 million pensions to 9.2 million people. 752,061 pensions receive the supplement for the reduction of the gender gap.

The average pension in the Social Security system is 1,254.3 euros this month, 5% more than a year ago. This average corresponds to the amount of the different types of pension (retirement, permanent disability, widowhood, orphanhood and in favour of family members).

Average pension rises to 1,254.3 euros in May, 5%

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Pensions May 2024

The monthly Social Security contributory pension payroll reached 12,732.2 million euros on 1 May, equivalent to 11.5% of Gross Domestic Product (GDP).

Pensions May 2024

By type of pension
Three-quarters of the contributory pension payroll corresponds to retirement pensions, as usual. Specifically, these pensions account for 73.1% of the payroll, 9,313.3 million euros. Widow’s and widower’s pensions accounted for 2,105.4 million euros, while permanent incapacity benefits amounted to 1,108.4 million euros, orphan’s pensions to 171.1 million euros and benefits for family members to 34.1 million euros.

Of the 10.1 million contributory pensions paid, 6.5 million are retirement pensions, 2.3 million are widowhood pensions, and the rest are permanent disability pensions (953,936), orphan’s pensions (340,503) and pensions in favour of family members (46,097). The number of pensions is growing at a year-on-year rate of 1.3%.

In May, the number of pensioners was 9.2 million. Of these, 4.6 million are men and 4.5 million are women. The ratio of pensions per pensioner remains at 1.1 benefits per person.

The average retirement pension, meanwhile, is 1,441.5 euros. By schemes, the average retirement pension from the General Scheme is 1,601 euros per month, while the lowest is recorded in the Self-Employed Scheme, with 962.4 euros. In the Coal Mining sector, the average monthly retirement pension is 2,804.17 euros, and 1,597.1 euros in the Sea Scheme. The average amount of new pension registrations in the system in April 2024 (latest data) was 1,479.7 euros per month.

In May, the average widow’s or widower’s pension was 896.2 euros per month.

Of the new registrations in the first months of the year (110,479), 69% were at ordinary age (76,275), while 10.5% corresponded to the delayed retirement mode, compared with 4.8% in 2019.

The number of early retirements, on the other hand, fell sharply. In April, 30.9% of new registrations were early retirements, compared with 41% a year ago.

The average time taken to resolve cases in April (the latest data available) was 8.45 days for retirement pensions and 9.61 days for widows‘ and widowers’ pensions. It should be borne in mind that the maximum resolution period for these procedures, according to RD 286/2003 of 7 March and R

The retirement pension is the main pension for 6.3 million people. Of these, 60% are men; in the case of the widow’s pension, of the 1.5 million people who receive it as their main benefit, 96% are women. On the other hand, there are 949,430 recipients of permanent disability, 322,571 of orphan’s pension and 45,502 in favour of family members.

Average pension
As mentioned at the beginning, the average pension in the system stands at 1,254.3 euros per month, 5% more than a year ago.

With gender gap supplement
In May, 752,061 pensions had the supplement for reducing the gender gap, 90% of whose holders are women (675,565). The average monthly amount of this pension supplement is 71 euros. Of the 752,061 supplementary pensions, 23.9% are paid to pensioners with one child (179,919); 47.1% of beneficiaries with two children (353,609); 18.9% receive it for three children (142,335), and 10.1% for four children (76,198).

This supplement, in force since February 2021, consists of a fixed amount, after the revalorisation applied in 2024, of 33.20 euros per month per child. It is applied for at the same time as the pension is claimed.

Passive Classes
For its part, the monthly payroll for pensions from the Pensioners’ Pension Fund amounted to 1,577.6 million euros in the month of April (the latest data available). This figure represents an increase of 108.1 million euros over the previous year, up 7.4%.

The number of pensions in force was 10,138, 15,726 pensions more than in the same month of the previous year (2.2% annual variation).

The State Pension Scheme basically includes military personnel and civilian staff of the General State Administration, the Justice Administration, the Cortes Generales and other constitutional or state bodies, as well as civil servants transferred to the Autonomous Communities.

All the statistical information on Passive Classes can be found on the portal set up in this area by the Social Security. Likewise, the eSTADISS application allows obtaining statistical information on Social Security pensions, with the selection of the parameters that are of interest and the possibility of exporting the results in different formats.